According to Sole24ore, a collaboration between AC Milan and the PIF Fund is imminent, with the Arab fund entering Milan by taking over the loan of around 550 million euros that RedBird will have to pay Elliott.
The negotiations would already be at an advanced stage, as Sole24Ore writes. However, according to sources close to RedBird, Gerry Cardinale is not currently negotiating with PIF. As the AC Milan owner stated a few days ago, RedBird is always open to collaborations or partnerships that can grow the club, including in the Middle East.
Right now there is a lot of capital in the Middle East interested in investing in sport and we are open to collaborating with potential partners who could join us either as sponsors or as partners in the construction of the new stadium, or as minority shareholders as true value-added partners, but as I said I will not give up control. - said Cardinale in a recent interview with Calcio & Finanza
"I will not relinquish control" -
This is the phrase that appears repeated several times in Cardinale's latest interviews, precisely to underline his desire to pursue a long-term project, especially now that great and concrete steps have finally been taken for the construction of the new stadium that will further increase the value of a brand, that of Milan, which first with Elliott and now with RedBird is constantly growing.
Another key passage in Cardinale's words in recent days reads the following:
So, I would say, I would try to find a way to capitalise and monetise the investment for my investors, while still owning it. And I think there are many ways to do that, but at the moment we are not even close to being ready for that kind of thing'.
As also reiterated by RedBird's top management, the fund is also looking for new partnerships and opportunities to try to monetise the investment for the investors themselves (as is the case with any fund) - however, there is no hurry for this at the moment either.
🗣️📢 Gerry Cardinale talks about his plans for #ACMilan and discusses potential partnerships 🤝#ForzaMilan 🔴⚫️ pic.twitter.com/KqxigHnbbg
— MilanReports (@MilanReportscom) February 24, 2024
