Exactly one month ago to the day, Elliott announced the sale of AC Milan to the American company RedBird, led by Gerry Cardinale. And the latter has since been looking for financial backing.
RedBird will close the takeover in September and the deal is worth around €1.2bn. Cardinale has been working on raising funds back in the United States and one of the investors he has been in talks with is Vivek Ranadive.
This was reported by Mediaset, stating that the Indian tycoon is ready to fund part of the money that RedBird need to raise for the takeover. In fact, the feeling is that an agreement could be reached soon and that is positive for Cardinale.
Ranadive is already known in the world of sports as the owner of the NBA team Sacramento Kings. He also made an offer for Chelsea before the club was sold to Todd Boehly, meaning he’s keen to get into the world of football.
The figures of Ranadive’s investment, as the report concludes, are unknown but he could be part of RedBird’s backing.
What the…this is becoming ridiculous. We look like a gypsie club if we let anyone buy a piece if the club to “back up” our main owners
and from all the investors to pick that just irritates me he owned sacramento kings for 9 years now nothing good happened to them except their team value which is good for him only he is so problem magnet
Ranadive was even named the worst owner in the NBA, according to a poll in 2022. An unnamed executive claimed Ranadive was bad at hiring people and would not let them do their job, 10 years after where are they now plse no we dont need him
Elliot is only playing games with Milan. He’s looking for a way to put redbird into trouble and get d club back. This is total rubbish
Yes
Hahahaha, amazing! Maybe someone else could chip in so these guys even manage to collect the funds to buy the club. Unreal, they don’t have the money to buy it and we will go into a bright future with these people. WOW!
Cardinale don’t own 100 million dollar worth of assets , how you think a guy like that mange to buy milan !? i’m 100 % there is something fishy about this deal ,
milan real value is between 800 _ 1 billion dollar at most
milan sold for 1,8 in total 70 % for 1.2 billion ,
i think either eliot tried to manipulate arab investors investcorp by using Cardinale to rise the money and fail and kept the bluffing or
Cardinale and elliot both are trying to scam american investors by selling the club for overpriced ,
milan right know real value is around 700 _ 1 billion i’m 100 % of that .
i think Cardinale will not become milan owner because i don’t think he mange to find dumb investors to complete the deal
Oh, god. Here we go again. Another terrible decade after such a nice revival.
why not Elon Musk buy milan
Why can’t you guys wait until the takeover deal is completed to make judgements? So far, the takeover isn’t complete they’re in due diligence stage. Instead u guys keep gobbling up every story to come out and vent about something that may or may not be invented. It just boggles my mind. At least if they have a track record like the Glazers or other owners who have owned for a while then sure u might want to vent but they haven’t even started their era of ownership as yet.
These people not gonna wait. They throw angry rant just because they wants to look cool or smart like they know everything.
why do you think all milan fans worry about this? that is because previously elliot said they will sell milan to a good hand that has credibility, money etc etc.. they reject investcorp because they said investcorp doesn’t have full cash to buy milan.. investcorp at least has the backup of many rich arab families.
but look at redbird now, they also don’t have the full cash just like investcorp and they also need to find investors to raise funds to buy milan..
so why they reject investcorp and accept redbird terms when they’re both don’t have cash to buy milan?
these personally makes me think that there’s something fishy with elliot..
Forget it J,
You asked profound questions begging for answers, and if one cannot hold up an argument with this kind of mindset, please just don’t bother, please pass.
Everyone can read, but assimilation and understanding is what makes the difference.
Not everyone remembers the anticident before the sale.
I don’t think ALL Milan fans are like this but u can look at the comments section here and it’s the same set of ea ts trying to bashing Redbird and for some strange reason praising Investcorp like they absolutely know that they would have been different. U raise points but it’s all part and parcel in the mix. I can also say Cardinale has found 6bn for a purchase before, what’s 1.2bn 🤷♂️
It’s why I’m saying why not wait until the whole thing is completed
as long as it means more money for Maldini? I am in
Crash course in private equity for those not familiar (buyout specific).
RedBird manages funds, which are comprised of portfolio companies that it owns. RedBird bought AC Milan to be a portfolio company in this fund.
Limited partners then invest in these funds with expectation of significant returns when the portfolio company is sold or goes public. Most funds have a 5-10 year lockup, so that should be RedBird’s expected ownership horizon.
So RedBird talking to investors to invest in the fund is 100% normal. It’s just not usually public.
Thank you for this. At least it’s not just me that’s wondering why everyone is so hysterical about Redbird and then it dawned on me that none of them ever bought something for 1.2bn much less taken a basic course in business
USC, it’s worthless to try to explain finance to the simpletons on here. I’ve tried, it’s like banging your head on the wall.
What they also can’t seem to grasp is that Investcorp would have been doing the same thing. Except they told Elliot that they had even less already lined up and wanted to saddle Milan with outside debt while Redbird was willing to finance the remainder through Elliot. Just what Elliot was talking about when they said that they didn’t want to see their years of work get wasted and Milan end up beholden to a high-interest loan from an investment bank.
They also don’t seem to realize that nearly every team that trades hands these days is purchased by a consortium. Todd Boehly didn’t just buy Chelsea, his consortium did with financing through Clearlake Capital. Sound Familiar?
Plus you borrow money to make money if the interest rates are in your favor. Never use all your funds if you are able to get an advantageous deal to finance part of a purchase.
These naive keyboard warriors don’t understand anything about finance other than asking mommy for a few dollars/euros/yen whatever.
I’m beginning to think that Elliott sold to redbird on purpose hoping that they would default on their payments and once again Elliott can come and take full control after 600m in their pockets. Lol I don’t know but this is getting a little ridiculous. Red bird puts in a crazy bid and now all of a sudden they need financial backing and can’t buy players.
Another cheap owner for the Milan ⚫️🔴🇺🇸🇦🇱
Gotta love the armchair anal-yst here talking crap about Redbird even they know they didn’t have any solid knowledge about the situation 😂
Absolutely no one knows. Boggles my mind
Nasib Milan jatuh kepada Redbird yang Miskin dan Eliot yang Pelit
This might just be worse than Li.
“Ranadive is already known in the world of sports as the owner of the NBA team Sacramento Kings”
Very true.. but as the worst owner in NBA.
The Ranadiv guy is a freaking clown. Hires bad people and doesn’t let them do their job.
https://www.basketballnetwork.net/latest-news/the-sacramento-kings-problem-starts-and-ends-with-vivek-ranadive
GGWP.
Hopefully whoever stays at the helm of Milan at least knows what Football is.
But why didn’t Berlusconi buy Milan back? Redbird should be owning a team like Monza, while Silvio comes back for us.
Why not oil money in milan.. what hell up with elliot..
This “show” with Redbird is just beggining. By Janyary or summer 2023, Elliot will be again in possesion of ACM. What is real game between these two funds, I do not know, but something is wrong.