Gerry Cardinale has been actively engaging with the media in recent weeks, participating in interviews across various outlets, with another one released today.
The owner of AC Milan has confirmed his openness to relinquishing a minority share of the club, particularly in response to interest from the Middle East.
In a comprehensive interview with Calcio e Finanza, Cardinale delved into several aspects concerning AC Milan, addressing topics such as the San Donato stadium project, the potential divestment of Milan shares, and the Super League.
Confirming our previous Substack report from December, he expressed genuine consideration for bringing in a minority partner.
Drawing upon his 25 years of experience in sports investment, Cardinale emphasized the importance of strategic financial considerations and non-emotional factors guiding investments.
Despite his pragmatic approach, Cardinale acknowledged a unique emotional connection to Milan due to the fervor of the fans and the team’s significance, a sentiment he had not encountered in his extensive sports involvement before.
Addressing queries about a vendor loan, he dismissed any notion of naivety, citing his two decades of experience at Goldman Sachs.
Regarding a potential sale, Cardinale asserted his commitment to a long-term stay at the helm, expressing a desire for permanence.
However, he acknowledged the influence of global economic dynamics and the abundant liquidity and eagerness for sports investment in the Middle East.
While open to collaboration with potential partners for sponsorship, stadium construction, or as minority shareholders, Cardinale clarified that he would not relinquish control.
On the prospect of sharing a stadium with Inter, he expressed readiness to independently fund the Milan stadium but remained open to exploring alternatives, including collaboration with Inter.
He highlighted the significance of stable ownership for the progress of Inter, Milan, and Juventus, considering them as the leading group in Italian football.
Delving into broader league matters, Cardinale expressed a vision to elevate Milan to the pinnacle of European football and concurrently revive Serie A’s competitiveness.
Recognizing the revenue gap between the Premier League and Serie A, he emphasized the need to bridge this divide to restore the league’s prominence at the European level.
Addressing the contentious issue of the Super League, Cardinale firmly advocated for operating within the frameworks of UEFA and the European Club Association, stating that the Super League, in any form, does not align with the interests of Milan, Serie A, or European football.
While the future of the stadium remains uncertain, Cardinale aims to bolster Milan’s financial standing through Middle Eastern investments while reiterating his steadfast commitment to not selling the club. He sees his ownership as a mission to be fulfilled.