Recent reports claiming that RedBird Capital, the owners of AC Milan, were planning to sell a portion of their stake in the club have been denied by the investment firm. Despite ongoing rumors, RedBird remains committed to Milan’s long-term success, while also considering new investment opportunities. The Rossoneri are intent on enhancing their standing on the Italian and European scene. Especially as they strive for ongoing improvement in all aspects of their game.
On Friday, the Italian newspaper La Repubblica published an article suggesting that RedBird’s founder, Gerry Cardinale, was preparing to sell 22% of his stake in Milan. This sparked widespread speculation about the potential impact on the club’s future. According to the report, Cardinale’s decision was linked to RedBird’s desire to “rebalance its portfolio”. Thus, possibly selling shares worth up to $165 million of their initial $747 million investment.
However, the company’s spokesperson swiftly denied the claims. Speaking to Reuters, the representative clarified, “The reporting by La Repubblica about selling a stake in AC Milan is a complete fabrication. It is wholly untrue”. RedBird acquired the club from Elliott Management in a $1.32 billion buyout in 2022. They now appear focused on the team’s current objectives rather than divesting from it.
Although the initial denial was firm, RedBird did not completely dismiss the idea of future investments or share adjustments. Both La Gazzetta dello Sport and Calciomercato hinted that the owners could still bring in new investors. However, they stressed that any share exchange would not affect the club’s day-to-day management; nor interfere with Milan’s broader strategic vision.
Commitment to Milan’s growth and success
RedBird’s primary objective remains clear: returning AC Milan to the top tier of both Italian and European soccer. After years of rebuilding, the team is once again contending for…
Source link : https://worldsoccertalk.com/news/could-redbird-end-up-selling-milan-shares-despite-clubs-rise/
Author : Martina Alcheva
Publish date : 2024-10-06 22:49:41
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