Italian press reports revealed a new indication that the Saudi Investment Fund is close to acquiring a percentage of AC Milan shares in the coming period.
The Saudi Investment Fund expressed great interest in buying Milan, similar to what happened with Newcastle United, but Jerry Cardinale, the club’s owner, refuses to sell.
The newspaper reported,La Repubblica“, that there was a meeting that took place during the past hours between Jerry Cardinale and Pablo Dana, the financial mediator who represents an Arab economic group in negotiations to purchase shares in the Milan club.
It became clear that Cardinale had become more open to selling a percentage of the club’s shares in the hope of increasing the club’s purchasing power to improve its situation, after a season during which the Rossoneri declined greatly at the local and continental levels.
Pablo Dana is considered the godfather of the Milan stock sale deal, as his name appeared on the scene for the first time when he was an intermediary for Mr. B, who wanted to buy the club during the Silvio Berlusconi era, but the deal was not completed in the end.
Reports indicate that the reappearance of Pablo Dana on the scene, with Cardinale open to selling a percentage of the club’s shares, confirms that the deal is on its way to success as soon as possible.