Investcorp's Executive Chairman Mohammed Al Ardhi says a deal for AC Milan is OFF.
Al Ardhi made a statement on Thursday admitting terms could not be reached with Milan's owners, Elliott Management.
He said, "We had discussions with Elliott about a potential investment in #AC Milan. As can be the case with premium deals, a commercial agreement wasn't reached, and we have mutually decided to end talks. We wish AC Milan the best for next season and beyond."
The Bahrain fund had offered €800m in cash and another €400m as debt to banks, but Elliott insisted on more of the offer being made up in cash.
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