June 28, 2022

Wire Service Canada

Complete Canadian News World

Big deal in football: Milan flies towards Red Bird and an American attack against the Sheikhs. Show on Barcelona

After Scudetto, Milan in the heart of financing appetite to sell the controlling stake. Italian football promises to be great but also Barcelona…

This time, Paul Singer, number one at Elliott Partners, was contained. On Sunday evening, after celebrating his “car” Milan in Reggio Emilia, he didn’t seem to make an appearance at the 2006 World Cup, when he ended up wearing an all-German fountain. This time it didn’t happen that way. Maybe because he doesn’t know the fountains in Reggio Emilia, maybe because Elliott Partners’ agenda already includes more Italian appointments today.

This was followed by the acquisition of the Bper platform, Reggio Emilia Bank (see group) which auctioned off a non-performing loan portfolio (€2.5 billion) in a tender in which Gardant, the Italian specialist backed by Elliott, which teamed up with Amco to bid for the platform.

Big deal in football: AC Milan’s control package worth the gold

But the big deal is another: selling the Milan control package, the club got for just over €300m from the shaky Chinese consortium it bought from Fininvest. Elliott is about to sell the Rossoneri Club fresh Scudetto based rated at 1.3 billion It is set to rise to €1.8 billion if construction of the new stadium finally begins. The purchase will be another American fund, Redbird led by Jerry Cardinale, who already controls 10% of Liverpool, after a deal that valued Jurgen Klopp’s team at 7.35 billion. That estimate, plus the $5 billion paid by another consortium of American operators to Chelsea led by Roman Abramovich, convinced Singer to stay with a minority stake in the Italian club in the belief that Italian football was destined to become a company. As many believe, given the declining number of American contributors to domestic football, from La Spezia to Bologna, and eventually to Friedkins Roma, in search of the first prize for the Gielorossi, which is just beginning to write off the club from Piazza Avari.

READ  Boys Parma protest against modern football

Read also Milan and Twitter via the Elliott Fund website: via Maldini and Boban

The battle between the capitals of the United States and its sheikhs

In short, AC Milan is still under the control of the American capitals after its victory over the Chinese Inter. This is not an insignificant detail in the comparison between the capitals of the United States and the capitals of the Gulf sheikhs. The American solution overcame the Saudi card of the Investcorp card, which seemed to be the favourite. All this in an endless struggle, which exploded with the assignment of Qatar to the World Cup (and subsequent judicial investigations) at the expense of the United States. A struggle beyond European football: UEFA, which is now firmly in control of the Manchester-Paris Saint-Germain hub, has ridiculed the concept of financial fair play. The last episode, 300 million euros guaranteed to Kylian Mbappe to prevent him from joining the ranks of the Real Madrid revolution. It might be a Milan operation It will boost the top of the Premier League Or in any case the anti-UEFA team. Behind Redbird, in fact, is JP Morgan, the US bank that was ready to fund the Premier League. A project not abandoned by Juventus, Real Madrid and Barcelona.

The big football bargain: Barcelona is the weak link

The blaugrana, which has a total debt of 1.173 million, is the weakest link in the system. By tonight, El Confidential wrote, the club should provide an answer to the offer made by English fund CVC with Goldman Sachs and venture capital All Sports Finance to launch a 900 million capital increase funded in part by CVC itself. But Barcelona also intends to make money from the sale of 49% of its subsidiary Barça Licensing to Investindustrial, the fund led by Andrea Bonomi that boasts a long and successful history of investments in Spain. Club members must agree to the sale, according to local press sources (the team is in the hands of about 144,000 members).

READ  Alpine Hockey League, win over the weekend for Vipiteno and Asiago - FIFA

In short, in a world where rates are rising, we may as well put our heads in the ball.