RedBird may sell shares in the Rossoneri club: comes a surprise rumor on the subject.
Gerry Cardinale vende quote del Milan? L’indiscrezione (Ansa Foto) – MilanLive.it
For months there have been Milan fans furious with RedBird Capital Partners, the American company that owns the club. At the stadium and on social media, there are many fans urging Gerry Cardinale to sell.
The Pennsylvania-born businessman is being blamed for many choices he has made since becoming the Devil’s patron. One of these is the ouster of Paolo Maldini and Frederic Massara. Considering that the Furlani-Moncada-Ibrahimovic triad is certainly not making waves, there are many who hold that decision against him.
Moreover, he had pitched himself as someone eager to win, but hunger for victories does not seem to be top of mind. Not to mention the absenteeism that has lasted for several months: in the stands in Rome for the Coppa Italia final was Gordon Singer of Elliott Management Investment, the former owner. He is also a member of Milan’s board of directors and has certainly seen more matches than Cardinale since the latter acquired the club, also taking advantage of a loan provided by Elliott itself.
Cessione Milan, RedBird cede quote rossonere? Le ultime news
Journalist Carlo Festa of Il Sole 24 Ore revealed an interesting thing on his official X profile: “From London financial circles leaks some activism of the Elliott/Cardinale couple to find an equity partner/buyer of Milan. Saudi track is weak, real problem is to find buyer at the price wanted by Cardinale, expected to reappear on the public scene.”
Gerry Cardinale’s desire to welcome new partners to the Rossoneri club is nothing new. It was already being talked about last year, when some news sources were giving the entry of Saudi investors as highly likely. Specifically, PIF, Saudi Arabia’s sovereign wealth fund, had been mentioned. In recent months, however, the leaked name is that of the oil company Aramco (PIF holds about 16 percent).
Festa reports that the Saudi lead is weak right now, we will see if anything changes in the coming weeks or months. Certainly a time when the club could increase its value will happen when there is approval of the stadium project. It is no secret that RedBird Capital Partners is banking heavily on the implementation of this work to make a maxi capital gain by selling Milan. By the way, it also has to repay Elliott the remaining part of the vendor loan (489 million euros plus interest, due in July 2028).
The article Milan turn, Gerry Cardinale sells: sensational indiscretion was written and published in its original version on Milanlive.it.
