As reported this morning by La Gazzetta dello Sport, Gerry Cardinale has decided. Inter, it's goodbye. Milan, meanwhile, will go it alone in constructing their new stadium, with three potential sites under consideration - Sesto, San Donato, and La Maura.
The importance of ownership cannot be understated, not just for the romantic allure, but for sound economic reasons. Milan's balance sheet is on the rise, with strong and established ownership, primed and ready to invest millions of euros into a state-of-the-art facility. These are the conditions that set Milan apart from their cross-town rivals, Inter. Oaktree, similar to Elliott's role with Li Yonghong in the past, is waiting for Suning to repay their loan. Failure to do so would result in Oaktree taking ownership of the shares.
While the future remains uncertain, Milan have already charted their path, which barring major surprises, will lead them to a destination different from Inter. The Mezza demolition bond issue remains unresolved, and soon, Milan will have to choose among the three sites on offer. President Paolo Scaroni is leading the charge, while Gerry Cardinale, RedBird's founder, is monitoring developments from New York. A connoisseur of sports, entertainment, and stadium construction, Cardinale recognises the pressing need to provide Milan with a state-of-the-art, proprietary facility. There is no other big city in the world where two such iconic teams share a stadium. Cardinale's last visit to San Siro sealed the deal, with the 74,000 fans present against Tottenham helping Milan collect over 9 million euros, a new Italian record. A new stadium will be even more enticing, with gates always open, not just on matchday.
Need new stadium now.. have travelled from Canada to Milan several times and unfortunately this stadium is outdated, worn badly and is not now suitable for a world class team as Milan…..let’s build soon !!!