RedBird Capital, the investment fund that owns Milan, are thought to be considering selling their controlling stake in Ligue 1 side Toulouse according to recent reports, following suggestions over a potential conflict of interest.
RedBird, controlled by its founding and managing partner Gerry Cardinale, have owned an 85% stake in Toulouse since 2020.
Earlier this year, RedBird representatives were summoned by UEFA to discuss a potential conflict of interest given that both Milan and Toulouse qualified for European competitions at the end of the 2022-23 season.
Even though Milan qualified for the Champions League and Toulouse for the Europa League, there is still a possibility that both teams could meet in the same competition if Milan were to finish third in their group and be demoted to Europe’s secondary competition.
Following on from UEFA’s requests, Cardinale stepped down from the board of directors at Toulouse in June in order to allow both of his teams to compete in Europe.
However, as reported by Bloomberg via Calciomercato.com, Cardinale and RedBird are now considering selling their Toulouse shares altogether.
No foreign business should be able to buy European Football Clubs , end of.