Gerry Cardinale is due back in Italy in the next few days for some very important meetings regarding the planning of AC Milan’s future, a report claims.
La Gazzetta dello Sport (as seen below) writes how it has been exactly one year has passed since RedBird Capital Partners and Elliott Management announced that they had signed a definitive agreement for the sale of the club.
The gift was Champions League qualification, crucial for the development of the project at all levels, and Cardinale will return to the city for Sunday’s game against Hellas Verona but it will not just be an anniversary party.
Milan could yet finish third and that would be worth an extra €5m, but either way Gerry’s visit – whether it is over the weekend or just after – will be an opportunity to meet with the other members of the management.
Summer combines two important things: the transfer window and the closing of the 2022-23 accounts. The two matters are linked to each other too, because all the profits generated by the club will be reinvested.
This means that the proceeds from the qualification for the Champions League and the run to the semi-finals this season will be used to strengthen the team. That amount will be able to grow with the money obtained from the sales.
Cardinale will also be able to celebrate the financial year ending on June 30, which will not only see a break even but a profit, after recording a loss of €194.6m three years ago. The July-December 2022 half-yearly accounts closed with a profit of €9.8m.
The stadium is the other hot topic. The most discussed areas remain San Donato (easier to enter the operational phase but in a less extensive site) or Sesto San Giovanni (longer bureaucracy but enormous square footage available).
