Gazidis could take a step back from Milan
According to La Gazzetta dello Sport, Milan CEO Ivan Gazidis could take a step back from his role, if the club is sold to InvestCorp. Talks are still ongoing between the Elliott Group and the Bahrain based fund over a possible purchase of the club. A tweet from the Bahraini Embassy in the UK has […]
According to La Gazzetta dello Sport, Milan CEO Ivan Gazidis could take a step back from his role, if the club is sold to InvestCorp. Talks are still ongoing between the Elliott Group and the Bahrain based fund over a possible purchase of the club.
A tweet from the Bahraini Embassy in the UK has since been deleted, but originally read: “The Investcorp investment fund has launched an exclusive negotiation for the purchase of Milan for 1.1 billion dollars. Investcorp was founded in 1982, offers a diversified and truly global investment portfolio and manages over $ 42 billion in assets worldwide.”
Gazzetta report that there are still around two weeks of exclusivity for the deal to go head, during which time the due diligence will be concluded, namely the analysis of Milan’s accounts. At the end of that period, there will be no extensions and either a sale to InvestCorp or the club remains under the ownership of the Elliott Group.
The report also suggests that while it is still too early to understand what will change in the Rossoneri organization hierarchy in the event of a sale, there could be doubts over the management team, in particular the future of Ivan Gazidis. The South African CEO may decide to take a step back given his very strong bond with Elliott. For now, there are no definitive answers, either way.
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