GdS: Cardinale wants stadium and trophies as Milan’s revenue continues to increase

Contrary to reports that emerged yesterday, Gerry Cardinale and RedBird have no intention of giving up a stake in AC Milan. Instead, the Americans are convinced that they can take the Rossoneri to the next level, as a report highlights. 

La Repubblica reported yesterday that RedBird had put 22% of Milan’s shares on the market, looking to get additional backing for the project. However, this is something that was quickly denied by RedBird themselves, making it clear it was fake news.

As stated by today’s edition of Gazzetta dello Sport (see photo below), Cardinale and RedBird are convinced that they can take Milan to the next level. Since September 2022, Sandro Tonali has been the only ‘big departure’ and players such as Christian Pulisic, Alvaro Morata, Tijjani Reijnders and more have been added to the team.

Winning, as such, is the big goal and Cardinale wants to do it by increasing the revenue even more. The accounts for the 2023-24 financial year were closed with a record revenue of €457m thanks to the sale of Sandro Tonali, though there was an early exit in the Champions League.

Finishing in the top four is still the minimum, as the newspaper continues, as the money guaranteed from the Champions League is essential. This is also why Cardinale has given the club a strong foundation on the sporting side, while continuing to increase the revenue through the brand. Furthermore, the new stadium remains a big goal for the Rossoneri.

Then, by August 31 2025, RedBird will have to repay the vendor loan to Elliott from two years ago (€550m with an interest rate of 8%). In any case, Cardinale has no intention of selling the club.

In our latest bonus on Substack, we took a deep dive into the ‘top four narrative’ and why this is no longer the minimum for Milan, despite what Gazzetta dello Sport suggests. The evidence is clear, showing that the Rossoneri need more.