Earlier today, reports suggested that Gerry Cardinale had listed 22% of his stake in AC Milan for sale. A reply emerged from RedBird in the hours that passed, and now, a further update has been provided.
It does not come as a shock to see reports about Cardinale parting ways with some of his stake in the club. After all, he has previously confirmed that he would explore the idea of it if it was the right thing for him and the club.
Therefore, when a report emerged this morning stating that he was looking to sell 22% of his shares in Milan for face value to ‘rebalance his portfolio’ it was not a complete shock as similar ideas have been spoken of previously. However, this has quickly been challenged by RedBird.
Initially, it was suggested that Cardinale had no knowledge of Washington Harbour who were reportedly involved with the process. In the last hour, a follow-up reply to the report has been published by Reuters.
“The reporting by La Repubblica about selling a stake in AC Milan is a complete fabrication. It is wholly untrue,” a spokesperson for RedBird said.
Whether the RedBird owner and managing partner will eventually take action similar to what had been suggested in the original report remains to be seen, as there likely would be interest in shares if they become available. However, it does not seem like that time is now.
You only deny something so vehemently if its true 🙂
Either way, none of this is a surprise.
Haha man you live in a world of gummy bears.
I hope what you said, makes sense in Italian, because in English, it doesn’t.
The truth is for the Americans every thing has a price, so denying that Redbird are not willing to sell a 22% stake and it is a fabrication is not really true, so denying it is a ploy to announce that a stake is available without saying it is available….
Prefer Cola bottles to gummy bears…
If they really were selling 22%, why would they be denying it? They would actually made it known, so that prospective buyers would consider it.
Do you realize that 95% of what the media say about Milan is made of lies, fabrication, and speculation?
Wait for an official communication from RedBird before believing in what some journalist says.
Tabloids need to sell DAILY copies and their online versions need clicks to sell ads. The amount of new information generated by true events is insufficient to feed the tabloids daily, so they make it up.