Speaking to the microphones of 'The Deal' podcast, Gerry Cardinale did shed light on the process of the acquisition of AC Milan. Here are his words:
"Billy Beane has been attending Milan for several years, and in a way, we observed it. But again, you think you know a lot about sports, but then you realize that's not really the case because of all the feedback you receive. Every time I raised the topic of AC Milan internally or here in the United States, everyone said, 'You're crazy.' 'Never think of investing in Italy.' But the answer to your question is that, in the end, we found ourselves going full circle. Elliott was the owner of Milan. Milan was indebted; originally there was a Chinese owner who made a hole in the water, and Elliott came in, foreclosed on the pledge, and became the owner."
Gerry Cardinale added:
"So, initially, it's not someone you would associate with owning a club in the sports world. I think Paul would tell you that. But I have to say that the thing that changed my mind was meeting Paul and Gordon Singer, his son, who led the investments and Elliott's team. And I can't speak highly enough of them. They are very informed on how they did a phenomenal job in the four years they owned Milan, from 2018 when they bought it until we bought it in 2022, to turn it around."
