La Gazzetta dello Sport highlights two major doubts regarding talks between Milan’s Gerry Cardinale and Newcastle owners PIF and suggests that a potential partnership may not grant the Rossoneri a higher transfer budget.
La Gazzetta dello Sport confirms Milan owner Gerry Cardinale is looking to potential partners in the Middle East and that Newcastle owners PIF, the sovereign wealth fund of Saudi Arabia, are among the parties interested – not the only one – in a possible collaboration, as first reported by Il Sole 24 Ore.
However, Gazzetta notes that talks between Cardinale and PIF are not yet at an advanced stage and that it’s premature to predict a future with ‘multi-million investments and technical revolutions’ for the Serie A giants.
According to Gazzetta, UEFA regulations raise doubts about PIF’s potential involvement in Milan. Article 5, in fact, prohibits the same individual or legal entity from having “control or influence” over more than one club playing in the same UEFA club competition.
However, there are examples that show how clubs controlled by the same individual or entity have been allowed to participate in European competitions. The most obvious one concerns RB Leipzig and RB Salzburg, both owned by Red Bull.
At the same time, Cardinale resigned from the Toulouse FC board this past June, resolving concerns over Milan and the French club’s participation in UEFA competitions.
Gazzetta journalist Luca Bianchin also wonders whether it would make sense for PIF to invest in another top European club. City Group controls many clubs across the globe, including Serie B side Palermo, but none is as big as Manchester City.