“A long-term commitment to the Club” – Cardinale’s first comments after RedBird refinancing

This afternoon, it was confirmed that RedBird had refinanced the vendor loan used to initially purchase AC Milan, thus seeing Elliott exit the club. 

It has been an interesting few weeks where RedBird have been concerned. In December, it was reported that they would not be supporting any moves made in January, with the budget expected to be fairly low.

However, this now seems to be changing, with Milan desperately pushing to make a few late signings, which would be headlined by the addition of a new striker in Jean-Philippe Mateta.

Additionally, the renewal of Mike Maignan could be confirmed shortly, which would only strengthen the image of the owners.

Cardinale speaks after RedBird refinancing

The position of RedBird has also been strengthened by another significant piece of news. After a few weeks of rumours, the vendor loan agreement with Elliott Management has now been refinanced with Comvest, meaning the club is in a significantly better financial position.

Gerry Cardinale, in the public release of the information, stated the following.

“Over the past three years, we have worked to consistently strengthen AC Milan’s financial and sporting performance, returning the Club to profitability and building a strong, more sustainable foundation for its future.

“Our ownership of AC Milan is driven by a long-term commitment to the Club, its leadership in the city of Milan and its heritage as one of the most successful European football clubs in the world. With the San Siro project now underway, we are even more confident in the Club’s trajectory and our ability to support its continued growth and success.

“We will continue to identify opportunities to enhance value while elevating AC Milan and the city of Milan on the world stage.”