Gerry Cardinale has opened up about his first year and a half as the owner of AC Milan in a recent interview. He also shut down the recent takeover rumours, also depressing his support for Stefano Pioli who has been doing ‘a good job’.
Cardinale completed the takeover of AC Milan from Elliott Management in August of 2022, having agreed to pay €1.2bn for the club. The first season was a success financially, with the Rossoneri registering a profit, but there was great disappointment on the pitch still.
Speaking to Corriere della Sera this morning, Cardinale shared his thoughts on Milan’s current season and the work of Pioli. He was also asked about the recent sale rumours, shutting them down and assuring that he will stay for a long time.
On the win against Rennes…
“I’m very satisfied with what I saw, matches like this give the players a lot of confidence, it was needed. Despite the many new signings, the group is making progress.”
On his many visits to the Gulf area…
“I have an office in Dubai, one in Abu Dhabi and I’m opening one in Riyadh. RedBird has many interests in these countries.”
On the sale rumours…
“I want to be categorical: it is completely false. I’m here to stay for the long haul, I have a job to do. I’m committed to bringing Milan back to the top of Serie A and Europe and I will not stop before achieving these results. And when we have reached them, I will want to reach them again.
“I feel sorry for the fans, because they are led to believe that instability exists. However, I’m not letting myself be distracted and I’m focused on things to do.
On Pioli…
“We have changed a lot and it takes time to create a cohesive team. However, we are growing, close to second place, and credit for this must be given to the players, staff and coach.
“I will be satisfied when we win the Champions League. But not being happy at a certain stage doesn’t necessarily translate into firing the manager. I believe that Pioli is doing a good job in a difficult situation, with a very renewed team, I don’t give in to the temptation to fire someone just to change something.
“I say: the season is still long, anything can happen, we’ll see. We need to improve in many things, with injuries for example. Everyone, starting with me, needs to do a better job. But I’m not quitting, I’ll be here for a long time. Nobody wants to win more than me.”
On the vendor loan from Elliott…
“I’m the one who wanted it, because Elliott did a great job. Nobody put a gun to my head. You can disagree with my strategies, but don’t invent stuff about them. I’m a corporate finance expert, so it’s baseless to assume that I’m experiencing difficulties 18 months after making these choices.
“It would be better to stimulate debates on how to bring Serie A back to being a reference league, or on the importance of modern stadiums for clubs.”
On the stadium…
“I’m very satisfied with the progress we are making, definitely a lot in 18 months, to build the first new stadium in Italy since 2011, with 70,000 seats. Reconsider San Siro? I don’t think so at this point, but every option deserves attention.”
The stadium will be a very important piece of the puzzle for Cardinale as Milan’s brand value continues to grow. And with a new stadium, the Rossoneri will also be able to rely on a lot more revenue every year, which will enable them to spend more.
