Italian journalist Gianluca Di Marzio has revealed the latest update regarding AC Milan's future as RedBird are closing for the transfer of shares from Elliott Management Corporation.
Red Bird will be the new owner of the entire AC Milan corporate package. Gerry Cardinale will take possession of 99.97% of the Rossoneri club, which will be managed by the small shareholders for 0.03%. To make the agreement official, the signatures will be needed, which will arrive in the next few hours, writes the journalist mentioned above.
After the closing, there will be the immediate release of the official statement and Gerry Cardinale will explain his new vision of the club and policy of the new Milan.
As for Ivan Gazidis' future, it may be out of the Rossoneri club. The current CEO of Milan has a contract expiring in November. This, however, I will not be renewed: instead Giorgio Furlani (Elliott Portfoilio manager in Italy) will replace him, concludes Di Marzio.
