Two separate US-based sports investors are preparing bids to buy AC Milan as Italy’s most successful club at an international level is on the verge of being taken over by Elliott Management, after its Chinese owner failed to meet a deadline to repay debt to the hedge fund.
Rocco Commisso, an Italian-American cable television entrepreneur and owner of New York Cosmos soccer club, and the Ricketts family, which owns the Chicago Cubs baseball team, are expected to present plans to take over the troubled Serie A football club, people briefed about the matter said.
One person added that the US investors were hopeful that with Elliott taking control of AC Milan it would be easier to negotiate a deal.
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