Elliot Management Corporation, who own AC Milan, will probably close the deal to sell the club in early May.
Since July 2018, the American hedge fund has been the majority shareholder of the Rossoneri, but the club is in process of being sold to Investcorp, an investment fund from Bahrain.
La Gazzetta dello Sport reports that Investcorp will pay €1.1 billion to acquire AC Milan from Elliot Management Corporation and that the deal will be completed in a fortnight.
The deal is not expected to take very long and no extensions to complete the deal will be given. If the purchase is not completed within the fortnight, it is possible that the deal could collapse, but this seems unlikely.
AC Milan had been acquired by Chinese businessman Yonghong Li in April 2017, who had borrowed €303m from Elliot Management Corporation to complete the purchase and his company Rossoneri Sport Investment Lux became the major shareholders.
The American fund took control in July 2018 when Li was not able to maintain the payments to pay off the loan.
