After his visit to Italy for the closing of the takeover with Elliott Management, Gerry Cardinale of RedBird Capital seems to have gone quiet.
As reported by La Gazzetta dello Sport (via Calciomercato.com), Cardinale is currently busy in New York in the United States where he is implementing a large fund raising project in search of more capital to allow him to complete the acquisition of Milan after signing.
The deal is not in doubt, but the more capital Cardinale manages to raise from investors, the lower the amount and the impact of the loan from Elliott Management will be. Elliott have offered to help RedBird in their acquisition with a vendor loan which is not uncommon, and the amount will depend on how much Cardinale can raise.
In terms of the actual operation of the club, Milan’s daily work proceeds regularly with Elliott and everyone is going about their jobs as planned. Paolo Maldini and Ricky Massara however are 10 days away from their contract expiry however, so that must be resolved ASAP.