AC Milan president Paolo Scaroni has admitted that he is expecting big things from new owner Gerry Cardinale and his fund RedBird Capital.
Milan officially confirmed RedBird Capital’s takeover of the club after Elliott Management decided to sell the majority of their shares. The club announced the highly-anticipated deal on Twitter and their website on Wednesday morning.
This has raised a lot of questions about what the future holds Milan and whether it will constitute a period that is more unsettled compared to the stable environment that allowed them to win the Scudetto.
Scaroni spoke during the Festival of Economics held in Trento and was asked about the new Rossoneri owner Cardinale, with his comments relayed by MilanNews.
“Gerry Cardinale, the son of second generation Italian immigrants, studied in Philadelphia, then high school at Harvard, then won the Rhodes Scholarship, which is the most important scholarship to go to Oxford and they get two people a year, then he spent 23 years at Goldman Sachs,” he began.
“Then he created a fund and bought Milan. He didn’t buy Milan because he likes to play football but because it’s an important investment. He’s a champion.”
He then addressed the idea that the takeover will not in fact be an immediate transaction but rather will take a few more weeks for everything to be fully ratified.
“It will take 2/3 months for the closing but the transaction is done. And I am happy that all this happened before the market because we are entering a phase in which decisions will have to be made and it is nice to make them,” Scaroni added.
