"AC Milan's owner Gerry Cardinale will not be present at San Siro for the derby between Inter and AC Milan on Sunday, but that perhaps isn't a shock. As Quotidiano Sportivo report, by his own admission Cardinale aspires to be a Berlusconi 2.0, waiting to see the first brick of the new San Siro put in place to increase revenues and invest more on the sporting side."
"The American has been missing for over a year: the last time he attended a Rossoneri match was on 5 November 2024, at the Santiago Bernabeu for the game against Real Madrid in the Champions League, while he hasn't been seen near Milanello since August 26 of last year. Barring any sensational (unannounced) last-minute flights, Cardinale won't be in the stands for Sunday's derby either, but his absence is now making less noise."
"Everyone is well aware of the complex situation: at the time of the transfer of ownership (in August 2022), RedBird borrowed money from the seller (Elliott Management) to complete the €1.2bn acquisition and are still exposed for €489m in principal, after repaying €170m and extending the maturity to July 2028. It's clear that in this situation, RedBird cannot escape the watchful eye of the lender who - as collateral for the exposure - hold a pledge on AC Milan shares."
Gerry Cardinale has been largely absent from AC Milan matches and club facilities for over a year. He aspires to emulate Berlusconi and is waiting for the first brick of the new San Siro to boost revenues and enable greater sporting investment. Operational control has been centralized with CEO Giorgio Furlani while Zlatan Ibrahimovic keeps a lower profile. Cardinale's public statements are infrequent and often delivered from the USA, with no formal Italian press conference held. RedBird financed the €1.2bn acquisition with a loan from Elliott Management, remains exposed for €489m after repaying €170m, and extended maturity to July 2028, with lenders holding a pledge on AC Milan shares.
Read at SempreMilan
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