Reuters: ‘A complete fabrication’ – RedBird reply to Milan stake sale suggestions | OneFootball

Earlier today, reports suggested that Gerry Cardinale had listed 22% of his stake in AC Milan for sale. A reply emerged from RedBird in the hours that passed, and now, a further update has been provided.

It does not come as a shock to see reports about Cardinale parting ways with some of his stake in the club. After all, he has previously confirmed that he would explore the idea of it if it was the right thing for him and the club.

Therefore, when a report emerged this morning stating that he was looking to sell 22% of his shares in Milan for face value to ‘rebalance his portfolio’ it was not a complete shock as similar ideas have been spoken of previously. However, this has quickly been challenged by RedBird.

Initially, it was suggested that Cardinale had no knowledge of Washington Harbour who were reportedly involved with the process. In the last hour, a follow-up reply to the report has been published by Reuters.

“The reporting by La Repubblica about selling a stake in AC Milan is a complete fabrication. It is wholly untrue,” a spokesperson for RedBird said.

Whether the RedBird owner and managing partner will eventually take action similar to what had been suggested in the original report remains to be seen, as there likely would be interest in shares if they become available. However, it does not seem like that time is now.