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Home Primo Piano

AC Milan under watchful eyes of InvestCorp as Gerry Cardinale seeks new capital to strengthen his project

Wajih by Wajih
6 December 2023
in Primo Piano, News
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InvestCorp

A partial view shows the logo of Bahrain-domiciled asset manager Investcorp in the capital Manama on April 18, 2022. (Photo by Mazen Mahdi / AFP) (Photo by MAZEN MAHDI/AFP via Getty Images)

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As reported by Il Giornale, two Serie A teams have been watched closely by investors in the middle east. We are talking about Milan and Inter.

As for the Rossoneri, it can be said that they do not have "money to throw around," but at least for years they have been trying to keep their accounts in order, and the year just ended was a success: no red in the balance sheet.

Despite this, RedBird still has debts to pay each year: in fact, when it purchased the Rossoneri club (for €1.2 billion from Elliott) it received half the money (€580 million) on loan - with a somewhat unusual formula - from the very person who was selling the club (Elliott).

This loan is divided into annual installments of €40 million, at an interest rate of 7%, which means that by 2025 it will have to repay approximately €700 million, not exactly an insignificant fee. But what do the Arabs have to do with it? Cardinale does not want to sell, he knows that it will be very difficult to recoup the investments before building the stadium, and then he is in no hurry. At the moment, he would simply be looking for capital to strengthen himself, and Investcorp is the most concrete of all, because it is one of the few that still does not own shares in any European club.

As for Inter, they move to Qatar, as the Qatar Islamic Bank (the same bank that had its €6 billion offer for Manchester United rejected) could be the new owner of the Nerazzurri in the near future, everything depends on Zhang, whether he will be able to pay his debts or not.

Gerry Cardinale AC Milan جيري كاردينالي ميلان
Gerry Cardinale at the SportiConference Invest In Sports 2023 at The Times Center on October 11, 2023 in New York City (Photo by Bryan Bedder/Sportico via Getty Images)
Tags: Gerry CardinaleInvestcorpMilanRedBird
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Wajih

Wajih

A writer, passionate about football: Serie A and AC Milan in particular. For business inquiries: Wajihmzoughi1996@gmail.com

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