World Lab Technologies announced their interest to buy AC Milan from Elliot but there is great skepticism on its economic capacity.
Yesterday, World Lab Technologies officially announced their interest to buy AC Milan club. The investment fund that deals with technology and renewable energy at an international level released a press release, expressing the desire to acquire AC Milan and becoming part of Italian football.
The curiosity of fans and journalists was immediately enormous. But according to the information gathered by Corriere dello Sport, it seems that there is still nothing concrete or even realistic.
In fact, the Singer family, that through Elliott Management fund has controlled AC Milan since 2018, appears rather skeptical after yesterday’s statement from WLT.
World Lab Technologies is a company led by the Moldovan entrepreneur Alexandr Jucov and, as mentioned, mainly deals with investments in the technology and energy sector. However, for some time Yucov seems to want to enter the world of sport. And the last idea would be to move in Italy, trying to snatch Elliott’s yes and negotiate for Milan’s shares.
Nevertheless, there is little optimism and a lot of skepticism after the official statement from the WLT lawyers. Elliott does not consider the expression of interest to be concrete, so at the moment the Americans have refused to express themselves, remaining silent without filtering any reaction to this press release.
In addition, Jucov, on his personal blog, brags that he has also attempted to acquire the shares of other sports clubs, such as the Washington Wizards (basketball) or Washington F.C. (American football), but without having succeeded.
Announcing that you want Milan is a very distant from being able to acquire it. According to the Italian newspaper this could be an operation of self-promotion rather than concrete interest. Further such important transactions are done in great secrecy and Elliott would hardly accept anything less than 1 billion euros for the sale of the Rossoneri. The figure seems out of reach for WLT.
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