An Italian media report has indicated that an Arab investment fund linked to the Saudi Public Investment Fund is planning to purchase AC Milan. The Italian newspaper "La Repubblica" stated that the fund is seeking to acquire 100% of the club's shares, which means complete control over it. This comes as Milan is struggling this season under coach Stefano Pioli, having exited the Champions League and distanced themselves from the Serie A title race.
According to the newspaper, Saudi Arabia intends to repay the loan obtained by Gerry Cardinale, the owner of Milan and head of RedBird Group, from Elliott Management. "La Repubblica" reported that the loan amounts to 550 million euros plus interest, and Saudi Arabia will pay this sum to Elliott, allowing them to sell RedBird's stake. Press reports have confirmed that the total cost of purchasing Milan will be 1.5 billion euros.
