GdS: Cardinale in the USA on a fundraising mission to lower amount of Elliott loan

By Oliver Fisher -

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, 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.

Tags AC Milan Gerry Cardinale


  1. Watch now all the keyboard financial experts come out and say how RedBird is broke and Elliot should have sold to Investcorp, even though they have no idea who Investcorp are or how they would have run the club

    1. True. On the other hand there were reports that Investcorp rejected taking any loan from Elliot, so in this sense the club is partially sold. And fundraising is a modern term for begging, this should be done before takeover. This does not look good, Longo, Di Marzio, all journalists admit that.

    2. Dude, you just need a bit of functioning braing to get simple conclusions from how Arab owners ran every club they bought. Redbird looks better by the day, maybe they will sell fan vouchers to collect more money, I think it would be best if we paid for them buying the club. Elliott picked them because they make more money through additional loans, simple as that. And if Investcorp didn’t want to take the loan from them, because they have their own banks and funds, that makes sense why Elliott went public with the deal to gain other interest. It is becoming more obvious by the day and Elliott would give money to anyone as long as they can default the loan and take the club back. They have financed Yonghong Li, not someone else.

      1. So you are profiling based on where the owners are coming from?
        Can you name me one Arab money owned club that has won anything of importance like Champions league, Europa league or even conference league. And than compare that with clubs owned and run with American money. It doesn’t matter how much money you have if you don’t know how to use it in the right way. Throwing bags of money at every player hasn’t helped PSG or ManCity

        1. Manchester City is one of the most dominant clubs at the moment. Destroying the strongest competition (Yes, PL) on the planet. Hasn’t helped them? Ok. 😀

          So, we have an amazing scouting team and you think that if we got owners that want to spend we would sign bad players?

          I don’t think even you can’t see there is no logic in that.
          The only difference would be that we would probably sign De Kateleare already and we would look at a great RW like Antony, not sign Messias in case we don’t get anybody else. I mean even NEWCASTLE is spending big, competing with us 2 months after they saved themselves from relegation, doesn’t even have to be a top club that was taken over by someone from the Arab nations.

        2. @ Coco you sound like an idiot. Your changing your argument. First it was “we have no idea who Investcorp are or how they would have run the club” (which is completely fabricated) – now it’s well “ Can you name me one Arab money owned club that has won anything of importance like Champions league, Europa league or even conference league” LOL. You are a racist prick it would seem. Make up your mind which racist argument are u backing up with your nonsensical BS? Now you have to qualify it with “well it hasn’t helped them win CL” LOL. Ya cause PSG and Man City never win anything LMAO. Ya they just win titles each year and are in top 8 of CL every year. Ya that’s horrible for the PSG and Man City fans LOL, While we haggle over signing Florenzi for 4M. Ya we have it much better than PSG and Man City fans LOLOLOLO….You sound like a complete idiot pal honestly. And YOU are the one “PROFILING based on where the owners come from” with your “Arab money owned club” garbage – are you that dense you don’t even realize that? ??? Get off this chat you racist troll. You should be ashamed of yourself.

    1. Ha! I like the voucher idea lol. Maybe they can get the players nonna’s to make some cannoli and raise some extra cash with a bake sale. My nonna will chip in for a dozen lol.

  2. OF COURSE he is on a fundraising mission.

    Redbird was supposed to be a wallpaper to get more money from Investcorp for Elliot. But Cardinale saw the prospect of Milan and took the deal they offered to Investcorp.

    Redbird doesn’t have the money, never had that kind of purchasing power. They pretty much used up ALL the money They had to buy Milan.

    AKA, we are stuck with a 30 mil transfer budget this season. Y’think we are gonna get CDK ? No way. We are not looking for all the free transfers. Belotti, Dybala and all. Tho it isn’t a bad idea in my honest opinion.

    Elliott isn’t gonna use a single penny this season for transfer budget and the club is still owned by Elliot till September.

    NOT ONLY Elliott isn’t gonna spend money, they are gonna sell every valuable asset we have. AKA, Bennacer, LEAO and anyone that even thinks about leaving to squeeze as much money as they can from Milan this transfer window.

    If Cardinale is smart, he would use the money from fundraiser to add to this transfer market so Milan has a strong Squad to ruin Elliott’s plan to squeeze out life from Milan or back off from the deal because Redbird was never considered as a serious buyer by Elliott.

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