RedBird Capital are edging closer to becoming AC Milan’s new owners and they have a plan for taking the club forward, a report claims.
A podcast for Il Sole 24 Ore (via MilanNews) involving Marco Fernando, Carlo Festa and Marco Valsania spoke about the American fund that are close to an agreement with their compatriots Elliott Management over the acquisition of the Rossoneri.
Gerry Cardinale’s company have invested heavily in sport in recent years, including football, basketball, American football and baseball, so they do have experience in that particular sector where Investcorp might not have.
RedBird’s goal is to transform Milan from a simple football club to a Global Media Company that would not only focus on what happens on the pitch, but also on TV rights and stadium revenues but would exploit the name and the brand power of Milan in all aspects, especially with regards to international revenues.
Thanks to the work done by Elliott over the last four years, the Rossoneri have enormous potential from an economic point of view as the accounts are now in order after a precise policy on the amount of wages and cuts to unnecessary costs.
In addition, the talks related to the new stadium have been launched, as Cardinale would like to push ahead with what could be a ‘golden egg’ and a guarantee significant growth of the Milan brand.