Cardinale strongly hints that Milan will soon welcome Middle Eastern investment
In recent weeks Gerry Cardinale’s travels to the Middle East have intensified and he is looking for investors to become a part of AC Milan, a report claims.
As this morning’s edition of La Gazzetta dello Sport (seen below) writes, Cardinale wants to find investors interested in collaborating as sponsors or partners in the new Milan-owned stadium, or minority shareholders.
This was announced in an interview given to Calcio e Finanza in the last few hours by Cardinale himself who however reiterated that he does not want to give up control of Milan.
“We need to keep into account the movements of the global economy and there is no doubt that in the Middle East there is a lot of liquidity and willingness to invest in sport,” he said.
“We are open to potential partners who could join us also as minority shareholders, but as I said I will not give up to control.”
It is the first time that Cardinale has publicly opened up to the idea of selling a stake in Milan. RedBird’s interests in that area are known: the American fund in fact has an agency in Dubai, an office in Abu Dhabi and is also waiting to open an office in Riyadh.
The objective of looking for new subjects willing to invest in the Rossoneri is very simple: to build an ever stronger Milan, one that generates more and more revenues to then reinvest in the club.
In the Middle East there is certainly no shortage of money and desire to invest in sport and in particular in football.
