Bahrain-based Investcorp has entered into"'exclusivity talks* to purchase Italian club AC Milan, a source close to the deal told Reuters on Friday.
The source said the deal to buy the Serie A club from current owners Elliott Management Corporation was close to being completed.
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Investcorp is an asset manager with lines of business including: private equity, real estate, absolute return investments, infrastructure, credit management, and strategic capital. It manages over $42 billion in assets.
American firm Elliott Management Corporation took over seven-times European champions Milan in 2018.
Investcorp would not comment when contacted by Reuters while the club and Elliott Management did not immediately respond to a request for comment.
Milan have won Serie A, Italy's top flight league title, 18 times but not since 2011.
The club are top of the table on 68 points with six matches remaining, though city rivals Inter Milan and Napoli are just two points behind. Inter have played a game fewer.