Journalist Carlo Festa has claimed that Gerry Cardinale is evaluating the potential opportunity for investors to enter AC Milan.
After such a dreadful 2024-25 season, this summer is one that Milan really cannot afford to get wrong. It starts with a new sporting director, which is expected to be Igli Tare, and from there more clear ideas should emerge on the direction to take.
However, at the very top of the club there are frequent rumours about the possibility of RedBird Capital selling a piece of their ownership in the club. It has been written about for months now, and the rumours resurfaced again recently.
Speaking on Carlo Pellegatti’s YouTube channel, Carlo Festa – a writer for Il Sole 24 Ore – spoke about Milan, focusing in particular on the possibility of RedBird selling the club in the near future. MilanNews transcribed his comments.
“There is no process underway, but there is certainly an interest in evaluating subjects that can bring new finance, therefore new money, into the coffers of Cardinale who, as you know, made this acquisition with debt,” he said.
“He bought Milan for 1.2 billion with almost 700 million in financing from Elliott. This financing was then reduced over the course of these months with the repayment of 170 million, therefore towards Elliott it went down to almost 500 million.
“So, what does that mean? He always finds himself with a very high debt, and therefore he is looking, but he was already doing it before, then this process slowed down, he is evaluating equity partners.
“It is also well known that in these weeks he is in Qatar, in that area where there are the only investors interested in Italian football today. Between Qatar, Bahrain and Saudi Arabia there is possibly money for Italian clubs and therefore possibly also for Milan.
“Cardinale is a very silent shareholder. It seems to me that since September he has not revealed himself. This is because for him Milan is not a sporting affair, but a pure and simple business. Let’s say he does not reveal himself, he does not show himself, he does not give interviews also because his management is very financial.
“What I predict is that he will evaluate possible partners, obviously to a partner who enters in the minority you cannot deny an option to then purchase the majority later, but it is certainly more than a hypothesis. They are detailed rumours that say precisely that he is evaluating a partner, an activity that he had already previously studied.”
Memang sudah layaknya Cardinale dan Elliot Mundur dan Menjual sahamnya dari kepemilikan Milanisti secara keseluruhan. Mereka tidak layak sebagai pemilik Milan yang penuha juara liga Champions, piala club antardunia, Scudetto dll.
Been saying this. He doesn’t have the capability to invest in the club. His company manages assets, doesn’t mean he has the cash flow to spend for a club at our level to succeed. He thought it would be easy. 40 million euros per window is okay for mid table clubs. European football requires more when your team isn’t complete and the wages at 98 million euros per season confirms that. It is below our spending power and allowed amounts by ffp. He isn’t a sports team manager. Nor are his people.
I wholeheartedly believe that Cardinale is trying to get out of the club. That’s why Furlani has taken control with Elliot trying to force him out.
Elliot already had the chance to let him default on the loan and take it back once, they let him refinance (probably on worse terms) – they’ll take his interest payments until eventually he stops and they can take it back then, assuming the value of the club doesn’t dramatically rise (and without our own stadium I don’t see that it can).
He runs this club like the Glazers have run Manchester United. Trying to turn a profit to flip it again. This isn’t real estate.
I have been saying this for years. He doesn’t have the $$$ so he will eventually sell. First minority then majority.
Refinancing the Elliot loan only bought him extra time – but there is no way he can play that loan ($500M) 15% interest on it in the next two years. missing out on Europe only accelerated his timeline to sell. And he will NEVER build us a stadium. Smoke and mirrors he hasn’t the $$$$$
Thank god for that. GTFU and sell already
I don’t see him owner for too long unless it’s the will of Elliot honestly. From the approach of the transfer window only spending 15-30mill on players shows us not only does he lack ambition but I genuinely don’t think they have the funds to invest the way Elliot did, this dude bought a club he couldn’t afford and treated it like fifa manager mode
For rejeinders 100 million or stay with Milan he is the best midfielder in Europe 2024 2025