AC Milan on verge of £1billion Bahrain takeover which will see them become one of richest clubs in Europe

AC MILAN are the latest club set to be taken over by billionaire Arab owners.

Newcastle were bought out for £320million by the Saudi Arabian Public Investment Fund in October last year.

While Manchester City were snapped up by Abu Dhabi's deputy prime minister Sheikh Mansour, who has a net worth of £17bn, in 2008.

Qatar plutocrat Nasser Al-Khelaifi scooped French club Paris Saint-Germain through Qatar Sports Investments in 2011.

And the group is allegedly worth an incredulous £338 billion.

Now, AC Milan are on the verge of joining the billionaire's ball.

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Bahrain-based asset manager Investcorp are in the final stages of buying the Serie A side from current owner's Elliott Management Corporation for an eye-watering £995.5 million, Reuters reported.

The publication claim that the deal could be finalised on Friday when an exclusive negotiation period with US fund Elliott concludes.

The astronomical amount will include any debt the Rossoneri has, the report also states.

If the deal goes through as suggested, it would be the first time a Serie A club will have Middle Eastern owners.

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And the Italian side will reportedly plan to woo Manchester City ace Raheem Sterling with their new-found wealth, although the England star is not thought to be keen on a move to the San Siro.

Sterling is not the only big name being linked with Milan should the takeover go through.

They are believed to be keen on Real Madrid duo Marco Asensio and Isco, as well as Ajax forward Sebastien Haller.

RB Leipzig’s Christopher Nkunku, who has been linked with a move to Manchester United, is another player the San Siro outfit are allegedly interested in.

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