La Gazzetta dello Sport has raised two significant concerns regarding the talks between Milan’s Gerry Cardinale and Newcastle’s owners, the Public Investment Fund (PIF), indicating that a potential partnership might not result in a higher transfer budget for the Rossoneri.
The newspaper confirms Cardinale’s interest in potential partners in the Middle East, with PIF, the sovereign wealth fund of Saudi Arabia, among the interested parties, as previously reported by Il Sole 24 Ore. However, La Gazzetta notes that discussions between Cardinale and PIF are still in early stages, making it premature to anticipate substantial investments or technical changes for the Serie A club.
UEFA regulations also cast doubt on PIF’s potential involvement with Milan. Article 5 prohibits an individual or entity from having “control or influence” over more than one club in the same UEFA competition. However, there are precedents where clubs under the same ownership have been permitted to compete in European competitions, such as RB Leipzig and RB Salzburg, both owned by Red Bull.
Cardinale’s resignation from the Toulouse FC board in June has addressed concerns regarding potential conflicts with Milan’s UEFA participation.
Journalist Luca Bianchin from La Gazzetta also questions the rationale behind PIF investing in another top European club, considering City Group already controls several clubs worldwide, including Serie B’s Palermo, though none are as prominent as Manchester City.
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