Bahrain-based Investcorp has entered into"'exclusivity talks* to purchase Italian club AC Milan, a source close to the deal told Reuters on Friday.
The source said the deal to buy the Serie A club from current owners Elliott Management Corporation was close to being completed.
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Investcorp is an asset manager with lines of business including: private equity, real estate, absolute return investments, infrastructure, credit management, and strategic capital. It manages over $42 billion in assets.
American firm Elliott Management Corporation took over seven-times European champions Milan in 2018.
Investcorp would not comment when contacted by Reuters while the club and Elliott Management did not immediately respond to a request for comment.
Milan have won Serie A, Italy's top flight league title, 18 times but not since 2011.