The Bahrain Embassy in the United Kingdom has confirmed Investcorp are in talks to buy AC Milan.
Investcorp, based in Bahrain, opened talks with Elliott Management last week for the takeover of the Rossonero.
The Bahrain Embassy also confirmed the $1.1 billion figure that has been circulating in the media.
The Embassy posted to social media: "Bahrain based asset manager Investcorp has entered in exclusive talks to buy Italian Serie A club AC Milan for $1.1 billion.
"Investcorp was founded in 1982, offers a diverse and truly global investment portfolio and manages over $42 billion in assets across the globe."
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