The NBA star was directly involved in the project by Gerry Cardinale, owner of RedBird, with whom he is already in business. As well as with the baseball franchise, already closely linked to Manchester City.
RedBird continues to demonstrate the seriousness and judgment with which he is approaching the closing for the Milan, with the club chaired by Gerry Cardinale who in these hours would also have concluded a very important economic agreement with some partners ready to join the acquisition project of the Rossoneri club, guaranteeing financial solidity and those prerogatives that the Gruppo Elliott has always asked – and never found in the first InvestCorp solution.
A few hours after the definition of the passage of the Rossoneri quotas, in a closing now at the gates and awaited by the end of the season, since Milan was dyed with the tricolor, a last indiscretion on the work of the American fund that will pick up the club arrived with a purchase of approximately 1.2 billion euros: and the “Financial Times“to highlight an agreement between RedBird, the New York Yankees and the Main Street Advisor fund, all first-rate names in the American financial landscape.
The idea of Elliott, the outgoing owner, is not to speed up the times and take all the space to conclude the transition in the best possible way, with the month of September identified in the decisive period to leave the hand, even if the “Financial Times“anticipates the timing by indicating in the next 24 hours the closing. RedBird’s latest approach in confirming on the finish line that it has found additional travel partners, in solidarity with the objectives and guaranteeing financial sustainability, is a further step that confirms the excellent choice that fell on Gerry Cardinale. The Italian-American entrepreneur has thus identified a reality very close and well known to him, the Steinbrenner family, owner of the Yankees with whom he has already collaborated in the recent past.
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Gerry Cardinale, new owner of AC Milan, alongside Paolo Maldini
Own with the baseball franchise’s ownership New York Yankees Cardinale was able to work in synergy when he held the position at Goldman Sachs, becoming one of the first investors also in the team’s regional sports channel, the “YES Network”. A detail that is not of secondary importance and which could today also turn into a further vehicle for the dissemination of the Rossoneri’s exploits, with the “Financial Times” as rivals as the AC Milan matches could also be broadcast on the channel.
Not only. Jerry Cardinale also involved another investment fund in the Milan project, the Main Street Advisorsa Los Angeles-based finance company that counts celebrated music producer Jimmy Iovine and rapper Drake among its investors, as well as LeBron Jameswith whom Cardinale had already established business relationships, becoming a shareholder of a media group founded by the American star of the NBA.
As further proof of RedBird’s desire to keep its promise in managing Milan as the Elliott group has done better up to now, there is also the precise desire to have chosen partners who will not be completely new with the world of football: Yankees, in fact, are owned by Yankee Global Enterprises, which is directly linked to the Premier League club Manchester Citythrough New York City FC which is a 20% shareholder.
