"After securing financing to repay the vendor loan, RedBird and Gerry Cardinale have some big plans for AC Milan, which is something that Oliver and Isak discussed in the latest bonus podcast. Yesterday afternoon, it was announced that RedBird had repaid the vendor loan to Elliott, with the American hedge fund officially exiting the club. This was made possible by financing from Comvest, and no representatives are expected on the board of directors from them."
"With a longer deadline and a lower interest rate, RedBird will have both time and more money to focus on what matters. From the new stadium in the San Siro area to the exciting NBA Europe project, there are certainly things to look forward to. In the latest edition of the bonus podcast, Oliver and Isak sat down to discuss what the new loan actually means for the club. Furthermore, they extended that discussion into some of the projects that Cardinale and Milan are working on (such as an indoor stadium in San Donato)."
RedBird and Gerry Cardinale secured financing from Comvest to repay the vendor loan to Elliott, enabling Elliott's exit from AC Milan. Comvest provided the loan without seeking board representation. The new financing carries a longer deadline and a lower interest rate, giving RedBird more time and cash to prioritize club projects. Planned initiatives include a new stadium in the San Siro area and involvement in the NBA Europe project. Cardinale and Milan are also exploring an indoor stadium in San Donato among other developments. A bonus podcast preview outlines these developments, with full episode access behind a Substack subscription.
Read at SempreMilan
Unable to calculate read time
Collection
[
|
...
]