AC Milan are heading for a decisive summer, and it is one in which there must be a unified vision for how to get back to being competitive.
Read SempreMilan ad-free and get access to exclusive news. Click here for a free trial!
Today’s edition of Tuttosport (via MilanNews) has a section on Milan headlined: ‘Milan, two souls and too many heads’. Behind the failed season, there is certainly also the great confusion that reigns with regards to the ownership situation.
One of these ‘souls’ is RedBird Capital, which is the owner of the club, and the other is Elliott Management who sold the Rossonero to them. Why are they still in the picture? Due to the €498m that Gerry Cardinale’s fund must pay them, as per the terms of the vendor loan.
That vendor loan was actually refinanced over the summer to buy RedBird more time to pay it back. While that guarantees some stability, having Elliott looming ‘slows down every corporate decision’ that must be made.
A very clear example is the issue of the new sporting director: the first discussions were carried out by Cardinale and Zlatan Ibrahimovic who met three candidates in London, namely Fabio Paratici, Andrea Berta and Igli Tare.
Then the CEO Giorgio Furlani entered the scene, who is very much an Elliott man. After flying to the United States to meet Cardinale and remind him of his powers, Furlani then started the casting process from scratch.