AC Milan owner says Serie A should steer clear of outside investment

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LONDON: Italy's Serie A soccer league should avoid the temptation of handing over some of its business to outside investors in exchange for a short-term cash injection, the owner of champions AC Milan said on Thursday. Gerry Cardinale, the founder of RedBird Capital, was asked about reports that banks and

LONDON: Italy's Serie A soccer league should avoid the temptation of handing over some of its business to outside investors in exchange for a short-term cash injection, the owner of champions AC Milan said on Thursday.

"I'm not a buyer of that, I'm not a supporter of that," he told the Financial Times Business of Football Summit. Serie A's key media business has drawn interest from a number of banks and investment funds and its clubs are due to meet later this month to consider their next step.

 

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