Milan owner Gerry Cardinale reiterated his ambitions in charge of the club and explained the ownership status amidst doubts.
Last month, the Rossoneri’s offices were raided by Italy’s financial police as part of an investigation into the club’s sale from Elliott Management to RedBird back in August 2022, with concerns that the former were still in control despite the apparent takeover deal.
Both Elliott and RedBird denied the accusations, affirming that control of Milan lay firmly with the latter following the €1.2 billion deal. In the meantime, the Rossoneri are trying to move their new stadium project forward, focusing on the San Donato area.
Cardinale clarifies
Speaking to Il Sole 24 Ore via TMW, Cardinale first underlined his plans to move Milan forward in a competitive manner.
“I’ve just arrived, and I have no intention of selling Milan. My goal is to build a reality together, solid and successful. Financial solidity and autonomy are necessary conditions to win competitions in a healthy manner.
“Milan have extraordinary margins for growth in sporting performance and enormous margins for economic improvement.”
Cardinale then discussed the situation regarding the Milan ownership, noting how his RedBird almost entirely own the club despite the alleged links to Elliott.
“Given the interest I see in our ownership, I would like to clarify the facts once and for all. RedBird is the controlling shareholder of 99.93% of Milan, the remaining 0.07% are 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 together with RedBird as part of our overall investment, given the strong partnership I’ve had with them for 25 years.”