The media called the amount of the transaction for the purchase of AC Milan

Italian football club AC Milan may be sold to new owners for 1.2 billion euros, according to calciomercato.com, citing Il Sole 24 Ore.

Bahrain-based Investcorp will pay 800 million euros, with another 400 million coming from other funding sources, including a group of banks that includes Goldman Sachs and JPMorgan Chase, according to the publication.

The €1.2bn cost is based on three factors: €400m for Milan’s new stadium project, €400m for staffing and commercial purposes, and €400m for other expenses and club turnover. The deal is expected to close in the coming weeks.

AC Milan is owned by the American hedge fund Elliott Management, which acquired the team in 2018 after former owner Li Yonghong failed to repay a €32 million debt to the fund.

AC Milan is an 18-time Italian champion, five-time Italian Cup winner and seven-time Italian Super Cup winner. The Italian club has also won the Champions League seven times. This season of the championship of Italy “Milan” takes first place in the standings.

Lately, AC Milan defeated Fiorentina in the match of the championship of Italy.

The meeting in Milan ended with the score 1:0. The only goal in the 82nd minute was scored by Rafael Leau. Fiorentina’s Russian striker Alexander Kokorin spent the entire match on the bench.

Milan tops the Serie A standings with 77 points, three rounds to go ahead of second-placed Inter by 5 points. Inter played one less game.

Milan will play their next game on May 8 against Verona, while Fiorentina will host Roma on May 9.

In another match of the day, the Torino players won the away match against Empoli – 3:1.