"AC Milan's Celebration: Cardinale Absent, but Singer Present"
That was the headline this morning, explaining that on Monday evening, Milan celebrated its 125th anniversary. Gerry Cardinale, however, was not in attendance. Instead, Gordon Singer was present, along with his father Paul, as pointed out by the Italy-based newspaper QS.
By August 31, 2025, Gerry Cardinale must repay the debt granted by Elliott in the summer of 2022 as part of the sale process of Milan. The vendor loan, a common practice in this type of financial operation, was originally valued at €550 million but, over the years, has accrued interest, bringing the total to €693 million.
In recent weeks, it has been reported that the current owner of the club is seeking new partners and even investment funds to refinance or settle part of the debt.
