Cardinale flew to London on May 5 to meet Gordon Singer, who runs Elliott’s European operations and is the son of the founder. As RedBird set out how it would improve AC Milan’s cash flow, its original plan to buy the club via a private equity deal morphed into a more unconventional one in which Elliott is helping with the financing.
When Elliott Advisors rescued a club at risk of insolvency just 4 years ago, the plan, as managing partner Gordon Singer explained, was “to create financial stability and to return AC Milan to where it belongs in European football”. To say the plan came together is an understatement.