Another US dream Milan goes to RedBird for 1.3 billion

the case

MILANO

The ball rolls in Europe, but business is done in the United States. The signature on the sale of the majority of AC Milan from the Elliott fund to the compatriots of RedBird Capital was affixed in recent days in New York by the founders of the two financial companies: Paul Singer and Gerry Cardinale, friends and protagonists of this operation that maintains control of the club Rossonero in North America, after the attempt to move the axis to the Middle East with the offer of 1.18 billion euros arrived in April from the Bahrain giant, Investcorp.

In the end, RedBird also won thanks to the common origin across the Atlantic, an element that guarantees continuity with Elliott’s strategy in the management of Milan as the freshest champion of Italy thanks to a policy based on low expenses and trust in young people. talents. This shared vision will translate into the permanence of some figures in the Rossoneri organization chart. The CEO Ivan Gazidis, Giorgio Furlani, manager of Elliott, member of the Rossoneri board of directors, and Paolo Scaroni, always present since 2017 in all AC Milan ownership changes, should remain, starting from that between Silvio Berlusconi and the mysterious Chinese Yonghong Li. These are the three people who yesterday met Cardinal in a hotel in the center of Milan.

“I hope that there is a situation defined in order to be able to face the market that we have before us, with a clear ownership, because this makes life easier for everyone”, explains Scaroni referring to the need to get out of the typical interregnum phase of these handovers at the top of a club. A situation in which the contract renewal of Paolo Maldini, who will now speak with Cardinal, remained entangled. The Rossoneri flag will not only address the issue of his work situation, but also that of strengthening plans after the Scudetto. Maldini pushes for a market that will allow Milan to compete immediately at high levels even in the Champions League. Origi only has to undergo medical examinations, Renato Sanches is close, Bremer has overtaken Botman in the Rossoneri wishes. But for Maldini something more is needed.

After the signing, it will take a few weeks to define the closing, the actual passage of the shares. Today, however, the official announcement is expected which will clarify some very significant details, starting with the overall assessment given to the club: in recent days there has been talk of 1.3 billion euros, to which another 500 million could be added in the coming years. , linked to the enhancement of Milan thanks to the new stadium. And the size of the minority stake that Elliott will retain. From the combination of these two factors you will understand how much RedBird will pay. Thus, a negotiation lasting at least six months is closed. The first contacts between Singer and Cardinal date back to last winter. Then Investcorp joined. But Milan remained in New York. –