Finance expert Marco Bellinazzo says Investcorp will be positive for AC Milan.
The Bahrain-based fund is in talks to buy Milan from Elliott Management.
Bellinazzo wrote for Il Sole 24 Ore: “Elliott has in its DNA the idea of buying a company, creating value, putting it back on the market and selling on at a profit.
“The sovereign wealth funds, or at least those connected to sovereign wealth funds like Investcorp, also want a return on their money, but their objectives are not purely financial. In football, that means victories.
“We shouldn't be surprised by their interest in Milan. For years now these sovereign wealth funds have been operating important investments in the world of sport in general, particularly in football, for example PSG and Manchester City.
“At the end of 2021 there was an agreement between the sovereign funds of the Emirates and Bahrain, so they basically forged an alliance to invest in sport.
“However, Mubadala did not propose a direct investment in Milan because the CEO of Mubadala is the President of Manchester City.
“There is a very fertile market in Italy at the moment, as shown by how many clubs are now owned by foreigners.
“Elliott don't actually need to sell Milan, but can make an important profit. They could wait for the stadium to be built or even make more if they win the Scudetto, but it looks like Investcorp want to get the deal done pretty quickly.
“Atalanta were valued at €700m thanks also to the ownership of their stadium, which Milan do not currently have, but the AC Milan brand has a global importance that gives them that value."
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