Bellinazzo responds to PIF-Milan rumours: 'There are discussions'

Rumours about AC Milan and a takeover have not died down, and in the latest installation of the rumours, there has reportedly been more interest from the Middle East. 

There has been discussion about the possibility of investment into Milan from America and the Middle East for some time. However, it was reported this morning that Gerry Cardinale and RedBird could be subject to an offer from the Saudia Arabian Public Investment Fund (PIF) for a majority stake in the club.

Furthermore, this offer could come very soon. The belief at the moment is that the fund are ‘interested in acquiring the majority shares of the club by the end of the season’.

There is a setback, though. The report stated that RedBird and Cardinale have ‘no intention’ of selling the majority shares of the club in the short term, which is the opposite of what is wanted by the PIF fund.

Journalist Marco Bellinazzo – who is a football finance expert – spoke to Tutti Convocati, and his words were relayed by MilanNews.

Is it true that there are discussions between PIF and RedBird?

“I don’t know specifically if it is PIF directly but I know that there are [discussions about investment], and I can confirm this because I have picked up rumours, and contacts from Milan. In particular, there’s Elliott’s share of the loan, RedBird would like to find partners to repay that very onerous debt and come into the company. They are looking very very hard at the Arab world.”