Gerry Cardinale, his Milan project is moving forward quickly (photo Lapresse)
Milan, under scrutiny also procures sale price for Cardinale. But Forbes in 2023…
The fairness of the price of the sale of Milan is also among the issues at the center of the Milanese investigation which raises doubts about the actual sale of the Rossoneri team from the Elliott fund to RedBird. Ansa reports this according to what has been learned from Milanese judicial circles. The club was formally bought for approx 1 billion and 200 million eurosa figure that has long been considered too high in circles.
It should be remembered that according to a study by Forbes, an authoritative American economic newspaper, dated 31 May 2023, the value of Milan was set at 1.4 billion dollars (i.e. around 1.3 billion euros at the exchange rate in that period) with a growth by 17% compared to the 2022 analysis.
This figure – explained Forbes through Calcio e Finanza – “is not the result of the change in the clubs' revenues, which in any case grew by 2.5%, but of the higher corporate multiples (figure calculated by dividing the company value by the revenues) that the buyers they are paying to take over the clubs.”
THE FORBES RANKING
Real Madrid – $6.07 billion
Manchester United – 6 billion dollars
Barcelona – 5.51 billion dollars
Liverpool – $5.29 billion
Manchester City – $4.99 billion
Bayern Munich – $4.86 billion
Paris Saint-Germain – $4.21 billion
Chelsea – $3.21 billion
Tottenham – $2.8 billion
Arsenal – $2.26 billion
Juventus – 2.16 billion dollars
Borussia Dortmund – $1.93 billion
Atletico Madrid – 1.54 billion dollars
Milan – 1.4 billion dollars
West Ham – $1.08 billion
Inter – 1.03 billion dollars
Los Angeles FC – $1 billion
Los Angeles Galaxy – $925 million
Atlanta United – $850 million
Crystal Palace – $806 million
New York City – $800 million
Newcastle – $794 million
Leicester – $781 million
Aston Villa – $756 million
Everton – $744 million
Lyon – 734 million dollars
Rome – 724 million dollars
Read also – Milan: Elliott-RedBird and the same address in Delaware? Here because
Milan, Lawyer Raimondo: “Rb Fund Iv Fc Aiv Cv vehicle attributable to RedBird: just log in to the Dutch Chamber of Commerce”
According to what the lawyer Felice Raimondo writes on his website, the RB Fund IV FC AIV CV – the Dutch law vehicle which according to the prosecutor's office would have paid a good part of the money to Elliott and whose money “would appear – as the Milan Prosecutor's Office writes and reports the ANSA – coming from a vehicle not attributable to RedBird” – is a vehicle attributable to RedBird.
Raimondo writes that to “prove it it was sufficient to make a simple access to the Dutch Chamber of Commerce today”, which shows that “RB FC Holdings Fund I AIV CV is owned by RedBird Capital Partners Fund IV GenPar LLC (registered at the usual address in Delaware where there are thousands of other companies). Well, as can be seen from the Form ADV filed with the SEC RedBird Capital Partners Fund IV GenPar LLC, a fund registered with the SEC under number 805-5462648909, is a vehicle attributable to Gerald Cardinale and, therefore, to RedBird. The Fund IV is mentioned with the American stock exchange authority and is clearly attributable to Gerald Cardinal”.
“If there had really been any “subterfuge”, the SEC would have already taken action, as would the Dutch authorities. But all this did not happen because the supervisory bodies responsible for checks in the respective countries where the vehicles used are based (Holland and USA) did not detect any type of anomaly”writes Felice Raimondo on his website (here is the article)
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