Gordon Singer was spotted at the Stadio Olimpico last night, but it seems he was involved with the AC Milan preparation.
There were several people of intrigue in attendance at the Stadio Olimpico last night. From a celebrity perspective, Milan were well supported, but the more important information, respectfully, comes from the management attendees.
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According to Sky, via Milan News, an almost full management was in attendance at the Olimpico, with Zlatan Ibrahimovic, Geoffrey Moncada, Giorgio Furlani and Paolo Scaroni all in attendance to watch the game unfold.
However, Gerry Cardinale was not present, which may have been a good thing considering he was recently angered by the fan protests, and after the defeat, the noise against him was rather loud from the travelling Milanisti.
Who was there, though, was Gordon Singer, the son of Paul, and member of the Diavolo’s board of directors, representing the Elliott Fund.
It seems his involvement was more than just being at the game, with the report stating that he had been at the club’s hotel in the morning of the game, where all the senior members of the club were present. The American is believed to have spoken to Furlani, about what is unknown.
My guess is there will be a sale announced this summer. Cardinale doesn’t have the money to invest in the team. Without CL and Europe, they need someone to come forward and purchase a majority of shares to remain viable as well as competitive. Gerry will probably remain with a 15% to 20% stake at most.
I would be shocked if they sell before the new stadium is confirmed (if it ever will be). Once that bureaucratic hurdles are completed, I would be shocked if the club isn’t sold within the following year as the market value would be at its highest.
He will sell because his investment capabilities are not enough to keep our value from falling further. He can barely put in 40 million a season into the market despite being profitable all thise years. We can afford higher wages but he can’t spend more. Everyone says we spent 200 million. We didn’t. We shrank the wage budget, lost assets for free and sold players to balance sheets.
We are allowed to declare losses up to 70 millon euros over 3 years if they are in good financial health. Our wage budget this year was 98 million euros. We can afford at least 150 comfortably with our revenues over 350 million euros during the last 3 years. So Kessie, Hakan, Tonali, Donnaruma etc could have all been kept with wages between 4.5 to 7.5 million euros without batting an eye while adding to the squad.
I am far from a financial expert so I could be wrong but the team only posted a profit of 4m-5m euros last year. Increasing wages to run a yearly deficit would decrease the value of an organization. That is why I suggested that the real value would be derived from the real estate once a new stadium is secured (not necessarily built, but secured). At that point the value of the club would grow significantly and that is when they will sell. At this point, without European competition, I would be surprised if they can get a high enough offer to cover the interest on the loan and their initial purchase price.
The presence of the Elliott Fund itself doesn’t mean much—they own more than 50% of Milan, so their presence is justified. What becomes strange or even bizarre is the absence of Milan’s operating ownership, the RedBird fund, specifically in the person of Cardinale. If the top decision-maker is absent, it’s not by chance or bad luck—it carries a clear meaning. Adding to this, the fact that the PIF Fund has taken steps to become part of Milan’s ownership makes everything more understandable.
The real owner showed up I suppose lol 🤣🤣🤣