Elliot Management, the hedge fund firm headed by Paul Singer is set to cash in on AC Milan after entering into talks for the sale of the Series A football club for €1 billion, according to a report by Nasdaq.com.
Eliot took control of the Rossoneri in 2018 for an effective value of €400 million in 2018 when the club’s Chinese owners defaulted on a €32 million payment. Elliott had previously provided the owners with a €300 million loan.
Bahrain’s Investcorp is said to be in ‘exclusive talks’ to acquire the club with a deal close to being finalised.
