Despite the fact they only bought the club just over a year ago, RedBird Capital could well soon receive a lucrative offer to sell AC Milan from the Middle East.
Italian journalist Maurizio Pistocchi claims the PIF are keeping tabs on both Milan and Inter having seemingly gone cold on the idea of acquiring Juventus. The Public Investment Fund is the sovereign wealth fund of Saudi Arabia, and they own majority shares in four of the Saudi League’s most popular clubs Al Nassr, Al Ittihad, Al Ahli and Al Hilal.
Pistocchi suggests on Twitter that they first tried to buy a minority share of Juventus from EXOR but things did not really get to an advanced stage, however they are still keen to buy an Italian side. We have translated his tweet below.
“One year ago – 28 November – the wholesale resignation of the board of directors and the president, Agnelli . Since 2019 – the year of Cristiano Ronaldo’s signing – Juve has accumulated losses of €719.4m, which have forced the parent company Exor to make 4 capital increases for a total of €900m,” he said.
“Juventus currently on the stock market capitalises €631m, €300m less than what was injected by the parent company, while in 2019 it capitalised €1.7bn. In 4 years, the management of the club has burned €2bn, and in February 2024 the €175m (€#CR7Bond) expires, a bond that is not guaranteed but which Exor will certainly honour.
“In this context, the owners negotiated with the Arab fund PIF for the sale of a minority share, a negotiation that did not go beyond a letter of intent: the Arabs were not interested in a minority share, and the overall valuation of the club made by the owners had been €2bn, while the fund valued the company at €1.4bn.
“Having abandoned Juventus, today the sovereign fund of Saudi Arabia is looking with interest at two Serie A clubs: Inter – for which the evolution of the situation is awaited, linked to the refinancing of the Oaktree bond of €275m expiring in February 2024, and Milan, for which, coincidentally, there is a request for €1.4bn.”
The differing financial situations of Milan and Inter were recently outlined in a piece by The Athletic, but the shortened version is that the Rossoneri are debt-free and posted a profit last year while their city rivals are in a lot more difficulty.
Before everyone lose their sh#t and say that Arabis should buy us amd we would have more money for transfers let me remind you that thats not how FFP(financial fair play) works. Owners cant just pump money into transfer window, club actually has to earn their budget from sponsorships, deals, revenues etc.
The only positive maybe would be better stadion in shorter time but that also has to be agreed with city of Milan
Except they would buy the whole council, same wave length there, Americans cant do that.
In addition yes they can pump money to elevate profile and then with that revenue and everything increases. So the truth is inbetween, you have to soend money to make money
ffp won’t matter trust me man city,psg,chelsea under roman and now boehly,man utd,barcelona have spent like crazy with no regard for ffp in massive debt but have no problem with spending more besides with arabs you can get massive fake sponsorships so you can get easy profits
Well, lets hope this happens. At least these investors aim for the heights of football and red bird aim for Yankees model. Btw, they haven’t won anything in over 2 decades.
“with arabs you can get massive fake sponsorships so you can get easy profits”
Lol, too true. That’s exactly how PSG does it. Their shirt sponsor and the Ligue 1 TV distributor (BeIn) are Arab owned and it’s like a circular economy. Get’s right past FFP if your shirt sponsor and TV company are overpaying for rights.
Rubbish. Every deal is scrutinized to prevent that. City, Chelsea, Barca etc all have FFP breathing down their necks now for past sins.
Great. Aramco can sponsor Mbappe and pay his wages. I wouldn’t mind seeing the back of Cardinale and Furlani.
But the Arabs at least will bring more sponsorship, having true serious technical ambitions, choosing skillful managers and overlooking the growth decree
“But the Arabs at least will bring more sponsorship, having true serious technical ambitions, choosing skillful managers and overlooking the growth decree”
And you know this for a 100% fact? How? Has this company done it before? What is their ambition? Trophies or money? Do they have a “we want everything now”-attitude? What is their knowledge of football? 🙂
Milan is owned by a bunch of bankers that have 0 clue about football. They didn’t really control anything in top sports before, whatever anyone says. They don’t control any of the clubs they have minority shares in. So their knowledge is basic. Saudis, if you don’t know, use the same fund to pay for players coming to their league. That fund is sorting out transfers for clubs and paying it, the clubs are not paying for them. So this fund has experience in bringing in big profile players to their league. I’m sure they know a thing or two, definitely not less than the bankers from USA: 100%.
P.S. I know you’ll write something stupid but try reading how the transfers in Saudi Arabian league work before you do, I know you don’t know.
Fake sponsorship = massive spending influx into the club. Fifa or uefa won’t be the wiser.
This has been happening and its happening as we speak. Of they become wiser it will be for all, however it helps to have unlimited funds behind you.
Arabs are crazy about football and dont mi d oaying for the very best, u like Cardinale
Yeah buy the club, put M&M in charge, sign a multibillion sponsorship deal with whatever company from SA, then recruit Mbappé, Valverde, van Dijk and we’re good to go.
You literally know nothing about football or FFP.
I’d bet my house on the fact that Bartholomeo there was being sarcastic.
No, you don’t know nothing about the real world. There are rules for peasants that think they need to follow them. It has always been like that.
Sarcasm he is giving
I mean, before everyone here starts anything, we should get a report from a more credible source before anything else.
I guess when Maldini in the interview was asked about his future he said big club but also said Saudi looks interesting. I’m going to lose my sh!t if Saudi buys Milan and installs Maldini back at the helm 😂😂😂
They can just buy the whole league for all they care, lmaoo.
Haha after the rain the sun! Imagine Maldini gave his 35-page plan for Milan to the Saudis and they actually read it and endorsed it. Then Jerry can go play with Toulouse, which is going straight to Ligue 2 this season.
Haha, picture this: Maldini hands over his 35-page master plan to the Saudis, and they don’t just read it – they frame it! Next thing we know, they’re turning it into the club’s new holy grail. Meanwhile, Jerry can go back to playing fantasy football with Toulouse. Now that’s what I call a happy ending …
Hahahahaha!!!
How ironically EPIC that would be. Paolo back strolling in with pink slips for little George lol
For the love of God please let this happen so we no longer have to see that fat old bastard Scaroni and his “mini me” Furlani at our club any longer.
Haha this reminds me of the Batman scene where Lucius Fox just told the old CEO, “I got another job. Yours. Didn’t you get the memo?”
Same here🤣😂🤣
Let’s pray that will happen
Laughable b/s for the weekend 😀
I can’t believe it yet BUT…
What is Maldini loves this team so much he convinced a Saudi group to buy it and let him run “most” off field operations so that we could become great again?
OMG.
At this rate, i don’t care whoever buys Milan as long as Cardinale and Furlani get lost from Milan and never coming back.
What an utterly stupid comment. They invested over €100 million in one window, WFT are you complaining about?
There is a difference between spending the clubs money and your own, we made profits last year, and the year before, barely anything was spent, thanks to maldini and massara the club was led in to a healthy position that allowed Furlani to spend and take the credit for doing so
They splurged around 115M in transfer expenditure, but gained 70M from Tonali’s sale. So, say we didn’t sell Tonali, we would have around 45-50M in budget. This is around the same with what Elliott usually grants. And considering the profitable CL runs, that amount is actually quite underwhelming. No, I’m not asking them to bill us like Man City – I don’t. I’m just saying that it’s nothing to write home about.
They didn’t invested any money from their own pocket you id*ot!
Fvck outta here you Cardinale c*cksucker
And you call someone an idiot.
What owner spends his own money for transfers?
Every transfer at every club goes on the tab of the club, not the owner. Who do you think is paying for all the transfers Chelsea owner is making? The club , not Boehly.
That’s the point of having a business, you put all the debt on the actual business not on yourself.
Chelsea as a club has to return that money not Tod Boehly.
Arrogance and even worse ignorance.
At least know the hell you talking about before you hurl insults at people.
“They didn’t invested any money from their own pocket you id*ot!
Fvck outta here you Cardinale c*cksucker”
One reason for that is that THEY CAN’T. There are rules to be followed. You don’t remember Milan being banned from euro games for a few seasons ago? That’s what happens when you don’t follow the rules and your name isn’t Barcelona, PSG, ManCity or Chelsea.
No, that is what happens when you don’t follow the rules and you owners are not important. This is how the world works. Cardinale is a blip and a personal assistant for rich people that really have a say. Even the Fiorentina owner is making fun of him…
Everyone is getting so excited about some rumor.
Fúck no
If it is Inter and we have the sustainable Gerry and co, we won’t see titles for a long time.
That would be an absolute disaster. Loss of identity & the end of the club as we know it. I wouldn’t be able to look at the club the same way any longer should that happen.
Milan must never become arabic.
What do you think Berlusconi represented when he took over Milan? Although the club was already quite successful before Silvio’s era, he was the Abramovic of AC Milan.
Yes, and the identity of the club is amazing with the US bankers and firing of Maldini because they think they know better. ? What is the difference? I think you are just racist.
You sound like a racist there fella👀👀👀👀
Well the club is already american by now, and inter, arguably the best team is Italy this season, is now chinese.
Unless we have a very rich Italian willing to buy the club, we can’t really say no to an offer.
But we’re getting ahead of ourselves, this is probably just another rumor, and even if it was true, we don’t know if Cardinale will sell the club (like Elliot before refused to sell the club to Bahrain).
Oh man they even put this rumour article up top for anxieties to flare.
It should really be Maldini’s interview up top for the whole week.
i dont think sanity works in england,where big spenders go free with their breach in ffp, but seria a is leading by good example(juv- 10 pt deduction) – tryin 2complement vero’s comment.
Oh god please no.
Id love to see Redturd out!
Hopefully the Saudis take over and bring back Maldini!
Maybe Mbappe goes to Madrid for 4 or 5 seasons and then joins Milan at 28/29 for his final big challenge.
Win the CL back to back.
That’s the dream anyway