News broke this morning of the fact that Gerry Cardinale is seeking a three-year extension of his vendor loan to pay for AC Milan, and there could be new possibilities as a result.
There are no doubts in Cardinale’s mind about the Milan project. Despite this season’s shortcomings so far, there is still a fantastic project possible, and the Rossoneri can only progress, especially with the possibility of a new stadium being built.
For this reason, there is no interest in selling his shares or anything of the like, at least not yet, according to reports yesterday.
However, investment in the future is very possible as Gazzetta dello Sport (seen below) reports. Should Cardinale refinance the loan owed to the Singer family – which currently stands at €693 million – then it will allow the American greater flexibility with the payment.
As a result, the belief is that there will be a better ability to find ‘new investors’ given the longer timescale of the loan – it was reported that he was searching for investment earlier in 2024, so a year of payments compared to three probably was not favourable.
Additionally, the entry of a ‘new fund’ cannot be excluded, according to the report, which opens up other possibilities.
just leave…. please… just…leave
Just sell the club already.
Hey….mr. Clowndinale, my dream is : you get the f**k out of AC Milan. Sell the club to an ambitious and smart rich owner. You are a loser from sportive perspectives. “Winning is boring” says everything about you abd what we see now shows us you talking serious when you said that. GTFO !
Didn’t I tell you that this guy is only good at taking press pic at Milan! Haha
For me, this news is confirming he is looking for selling Milan a little further. He’s trying to quietly quite. Does this clown really think people buying into this?.. except his Redbirdie fans lol
When this takes longer, he only gets a portion back.
This is a bad news for Milan overall.. while good news for Singer and Redbirdie fans! Hah
We as fans need to protest this man out of the club!!!
Is it wrong that I’d rather have Elliott back in charge? This is just going to end up racking up serious debt with the loan interest and defaulting at some point, just like Li and Zhang did. The stadium that he actually needs to raise the value of the club feels no closer than when he took over.
Elliot wasn’t that bad actually. They messed up with renewal but when needed to make investment they did. Remember Tonali transaction it wasn’t within their budget but they did manage to approve the sale which became crucial.. what does Cardinal do hide and make beautiful speech that make fan dreams but nothing else.
If Redbird defaults, as you say they will, then Elliott WILL own Milan again, as they’re the lender.
Guy .. redbird is not a hedge fund.. they look to invest and grow their brand… get used to this…
Seeking a loan refinance, where the “loan” is really a 40+% stake in the club from Elliot. There is no way to pay up a dude date loan on hi interest Nd build a stadium at the same time. And the factt how the club has appreciated in value means only there is appetite for investment… but you want to spread that out …or it just takes money for capex(new players).
All you guys hope, want is another fing oligarch…. seriously is this the only model in football? Come on….
I get the sporting critique but corporate management of the club is great….
I remember when some on this forum were so screaming with joy when Elliot sold to Redbird instead of InvestCorp because they “didn’t want that dirty oil money” LOL….
Wonder how they feel now???🤡🤡🤡🤡🤡
First, Elliot are snakes and IF they had the clubs best interests at heart they would have sold to InvestCorp who didn’t need a loan from Elliot to purchase and who would have bought 100 percent ownership. However, they don’t care about the club and only their profit – which is their right – so they sold to Redbird who didn’t have the $$ and needed THEIR loan on THEIR terms and KEPT equity – so in the event of a Li type default – they get the club for Pennie’s in the dollar – AGAIN. Brilliant business by Elliot.
Now Gerry isn’t selling the club NOW to break even or for a loss – he’s not stupid nor a poor business man. So unless he gets a crazy offer from Saudi Arabia that he cannot refuse – He will bring in a minority shareholder to front the loan and extend – and once the stadium breaks ground and the value of the club increases because of it – sell at that time. Gerry always said this was a 7-10 yr investment, tops. So look for him to hold on and start to dump around 2028-2029 if/when that stadium (if ever) breaks ground.
Business is business. So unfortunately we are in this mess for another 3-4 years…
💯💯💯 but ppl are so blind
Elliot imo has done brilliantly both on the sporting and business side. They literally took over a billion dollar as.set for $300m. Then stand to gain $600m in the short run and either another 700m or repossess a 1.2bn a.sset for zero effective dollars lol. Insane..
But here we are with our “owner” trying to find the money to complete the purchase of the club. Smh 🤦♂️
Yeah unfortunately now Milan are slaves to some loan sharks like Elliott who will continue to sell the club to incompetent people to gain on interest.
People forget that they pulled this same stunt wth Yonghong Li.
Gerry, time to go, you don’t have the money for a club like Milan. You can’t even find people to back you up again.