Milan owner Gerry Cardinale once again clarified the situation of the clubs ownership: “AC Milan belongs to RedBird and I have no intention to sell”. In an exclusive interview with Il Sole 24 Ore (via Gazzetta dello Sport), Cardinale, the head of RedBird, outlined his entrepreneurial vision, the genesis of his expertise, and his projects—including AC Milan—emphasizing his commitment to the club and the city of Milan:
“With regards to my identity as an entrepreneur, I strive to conceive what does not yet exist and develop it with financial and social benefits for all involved in a business,” Cardinale stated. “For me, the business world is not just about material wealth but also a life experience.”
Cardinale reiterated: “I would like to clarify once and for all that RedBird holds 99.93% of AC Milan’s controlling shares; the remaining 0.07% consists of individual Italian investors who are long-time fans of the club. I have also asked the New York Yankees to invest a small minority stake alongside RedBird as part of our overall investment, given the strong 25-year partnership I have with them.”
Detailing further, Cardinale explained: “When we took control of the club at the time of closing, Elliott provided RedBird with a three-year loan with zero governance rights. This loan is no different from any other third-party financing we could have obtained.”
Regarding the future of AC Milan, Cardinale affirmed: “I have just arrived, and I have no intention of selling Milan. My goal is to build a solid and winning entity together. Milan has extraordinary room for growth in both sporting performance and economic improvement. Are we not leading the league? Nonetheless, we are in second place. And we will never stop aiming to win. Why should I give up ownership? There are no talks with any investor who could gain control or governance of Milan. I intend to stay in Milan for a long time.”
