In the past week, it has been reported that AC Milan owner Gerry Cardinale has been interested in buying a stake in Al-Nassr and there’s now an update.
Over the past few years, there has been a lot said about Cardinale’s interest in getting investment from Saudi Arabia in Milan. However, it seems that the script is being flipped, with the American now looking to invest himself.
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The reports from last week would have you believe that Cardinale is now interested in acquiring a stake in Al-Nassr and some more information about this has come to light.
Cardinale’s investment in Saudi Arabia
According to Al Riyadh, as relayed by MilanNews, RedBird and Cardinale are leading a consortium, which also includes Ibrahim Al-Muhaidib, SMC Media, and other local Saudi investors, that is working to buy a share in Al-Nassr.
It’s important to note that this is unlikely to be a full takeover based on what is being reported here.
The goal would be to reach an agreement with the Saudi Arabian Public Investment Fund by the end of the current season. Interestingly, the report claims that a PIF source has confirmed these discussions in line with ‘the [Saudi] club’s investment objectives and future interests’.
We’ll have to see what filters over the next few months…
Why? Saudi Arabia seems to be a money burn. How many players have they signed just to be loaned out the next year and then sold for pennies?
Especially with the country being right next to a war zone… what is the purpose of this ?
Who the hell knows. There must be more behind the se scenes that we the public know about.