AC Milan are in a crisis on a sporting level. But on a corporate level, the porsecutor's office is looking for any whiff of problems.
According to La Repubblica this morning on their website, In the papers there is also the reconstruction of the negotiation that began in November 2021 and fell through in May 2022 with the Arab fund Investcorp (together with Multi Family Office Equity Partners). The potential buyers invested the same amount (1.2 billion euros) in cash without any loan from the seller. The Singer family preferred Gerry Cardinale, to whom they lent around 600 million euros, at an interest rate of 42 million euros a year. RedBird has also left the Singer fund a substantial say in the corporate decisions of the AC Milan club, starting with the strategy line on the mercato.
The Italian-American financier Carmine Villani, managing director of MFO who participated in negotiations between Elliott and InvestCorp said to La Repubblica the following words:
"I can't go into details, but I can confirm that our consortium had undertaken both to acquire all the majority stakes in Milan and to guarantee the subsequent investment on the market of 300-400 million euros, to immediately bring the team back to the highest level in Europe, as its history deserves. It was all 'equity'. If Elliott had wanted to, we would have left them minority interests."
Relayed via Calciomercato.com