Several recent reports have suggested that AC Milan is in “exclusive talks” about changing ownership.
Investcorp, the Middle East’s biggest alternative asset manager, is allegedly close to purchasing the club from Elliott Management for $1.1 billion.
- Before the Bahrain-based asset manager can purchase the club, there must be a guarantee that the project can move forward.
- It has been stalled by the local government.
The deal was reportedly set to close on May 4.
A New Home
The project for a new stadium was originally announced in 2019, but a design was only unveiled last December.
“The Cathedral,” which would replace the historic yet antiquated San Siro, features blueprints created by well-known stadium developer Populous. The stadium would be LEED-certified and carbon neutral. Part of the plans include a pedestrian-only district and area of greenery outside.