It was reported yesterday that RedBird have overtaken InvestCorp in the negotiations to buy AC Milan from Elliott Management Corporation. The two American companies continue to get closer to finding an agreement over 1.3 billion euros (which could be increased to reach 1.8 billion euros according to Il Sole 24 Ore).
The same newspaper mentioned above claim today that JP Morgan and 'BofA Merrill Lynch' (Bank of America Merrill Lynch) are acting as advisors in this deal. Work is already ongoing.
The financial structure remains to be thoroughly defined. The difference between RedBird and InvestCorp in these talks is that the American companies are moving towards a partnership in running AC Milan. Elliott, if a deal goes through successfully with RedBird, would be able to remain in the club as minority shareholders. The American hedge fund's owner Paul Singer is likely to be present in the final matchday of the season at MAPEI stadium (which should hopefully decide the Scudetto in favour of the Rossoneri): that is a sign of Elliott still wanting to play a part in the club.
