In a shocking bit of news, AC Milan announced that Technical Director Paolo Maldini and Director of Football Frederic Massara have been fired from their respective roles. As both these individuals were pioneers of leading Milan into a successful era after years in the doldrums, the man responsible for the firing, Gerry Cardinale, is under hot water.
So, who is Gerry Cardinale, and what do we know about the firing so far?
Who is Gerry Cardinale?
Gerry Cardinale is the Chief Executive Officer and Managing Partner of RedBird Capital, the principal investment firm situated in the US that owns AC Milan.
RedBird Capital Partners bought AC Milan from Elliott Management at the start of the 2022/23 season, on August 31, to be exact, in a deal worth $1.2 billion.
Including Milan, Cardinale’s firm has assets totalling up to $7.5 billion under its umbrella. These include investments in Fenway Sports Group (Liverpool FC), Toulouse FC, and Indian Premier League team Rajasthan Royals.
When AC Milan’s acquisition was confirmed, Cardinale said (via acmilan.com):
“Our vision for Milan is clear: we will support our talented players, coaches and staff to deliver success on the pitch and allow our fans to share in the extraordinary experiences of this historic club. We will look to leverage our global sports and media network, our analytics expertise, our track record in sports stadium developments and hospitality to deliver one goal – maintaining Milan’s place at the summit of European and world football.”
Gerry Cardinale net worth
As per various outlets, Gerry Cardinale’s net worth is approximated to be around $200 million. That comes as no surprise as he is the CEO of a firm that has assets of $7.5 billion.
Tensions with Paolo Maldini and eventual sacking
Considering Paolo Maldini and Frederic Massara were at the club before it was bought by Gerry Cardinale’s RedBird, it perhaps comes as no surprise that there were tensions between the parties.
Maldini and Messara are not Cardinale’s appointments. As per MilanNews, Maldini had been asking for more investments in the club while Cardinale’s stance remained unchanged. Reportedly, it was a brief meeting where Cardinale reaffirmed his respect for all Maldini has achieved as a player and Technical Director but there was no room for discussion on his future. The decision was already made.
With Maldini and Massara’s departures, it is the end of an era at San Siro. No matter who comes in through the door next, they will have a tall task replacing the influence and gravitas of the two, especially Paolo Maldini.
For Gerry Cardinale and RedBird, the next appointment will be the defining moment of their spell as owners. They are already unpopular with the fans after this sacking and if the replacements for Maldini and Massara are not successful and popular, it could lead to unrest at Rossoneri.