Gerry Cardinale negotiates with Alpine-Corriere.it

Gerry Cardinale negotiates with Alpine-Corriere.it


The RedBird fund would be in very advanced negotiations with the Renault group to acquire a minority stake in the Alpine team. The deal would then see the fund contribute to the automaker's core businesses

While AC Milan fans are trying to digest the sale of Sandro Tonali to Newcastle and are curious to understand how the club based in via Aldo Rossi will move on the transfer market, Gerry Cardinale - owner of the club with RedBird - is planning new investments in the world of sport . We are not talking about a new company in football, but Cardinale intends to broaden his horizons and the presence of his own investment fund, seizing new opportunities to expand his sports empire, which already has stakes in Toulouse, Liverpool, Boston Red Sox and the Pittsburgh Penguins.

In particular, his eyes rested on Formula 1. According to reports from Bloomberg, in fact, the RedBird fund would be in very advanced negotiations with the Renault group to acquire a minority stake in the Alpine team. The deal would then see the fund contribute to the key activities of the car manufacturer, those which, in a period of strong growth for Formula 1, generate revenues, such as media rights and relationships with sponsors. However, the figures for the deal are not yet known. What is known, again according to Bloomberg, is that the announcement could arrive as early as next week in the United Kingdom.

June 23, 2023 (change June 23, 2023 | 14:50)



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