Repubblica: Rumours of Cardinale departing Milan emerge from USA but denials arrive | OneFootball

Gerry Cardinale has been subject to reports about his position several times this year, and today, the AC Milan and RedBird chairman has seen more emerge.

At the start of the year, reports emerged stating that the American businessman was travelling the world to seek investment into the club, linked to repaying the vendor loan to the Elliott fund which must be paid next year.

Since then, reports have been frequent throughout the year about a search for investment, but there has been little to nothing to suggest that any success has been had so far.

Then, it was suggested that the club was partly up for sale, with some details about a potential deal being leaked through a contract being floated around, however, RedBird later stated that these reports were untrue, and that Cardinale was not selling any shares.

Today, a similar event has occurred, with La Repubblica (via Milan Press) reporting that the businessman had been reflecting on an ‘early farewell’ in February to ‘recover’ the money which he had put into Milan – to date around €150 million.

RedBird have again come forward to deny this, but if it were to come to fruition the management would be shaken up. Elliott’s loan would become equity, and the fund would ‘take control’ of the majority of the club.