Headline: Gerry Cardinale Outlines Vision for AC Milan’s Future and Commitment to Club Ownership
Milan owner Gerry Cardinale announced that the RedBird-backed holding company will provide AC Milan with the financial capabilities necessary to compete in the transfer market. He emphasized his dedication to the club by stating, “I’ll never sell” the team.
On Friday, RedBird Capital Partners established a holding company aimed at consolidating its investments in Milan, which also includes an emerging NBA Europe project that will involve Milan fielding its own team.
“The driving force behind transactions like this is to provide Milan with the financial firepower required to compete in the transfer market to secure the best players in the world,” Cardinale remarked in an interview with Gazzetta.
Cardinale is set on transforming the club’s financial structure by leveraging resources from the stadium, the proposed arena in San Donato, and various other initiatives, including NBA Europe. “I am doing everything possible to ensure that, when we want a footballer, nobody can tell me: ‘You can’t sign him because you can’t afford him,'” he noted, highlighting the current financial dominance of Premier League clubs in player acquisitions.
To restore AC Milan to its former glory in European competitions, Cardinale believes it is essential to compete with the world’s biggest clubs. He affirmed his long-term commitment to the club, stating, “Yes. I will never sell Milan. Ever.”
Further detailing his ambitions, Cardinale expressed urgency in returning the team to winning form, underlining his goal to consistently capture Scudetti and return to the Champions League. “This is the legacy we will leave to Milan,” he said, mentioning that the new stadium will significantly transform the club’s financial situation, alongside the other major projects in the pipeline.
Cardinale aims to narrow the revenue gap between AC Milan and Premier League teams, reiterating his comparison to Silvio Berlusconi, the previous club owner. He explained that his ownership seeks to usher in a new era for both Milan and Serie A, akin to Berlusconi’s transformative impact.
“Everyone thought I was making an arrogant, self-centred comparison between myself and Berlusconi, but that was not my aim,” Cardinale stated. He elaborated on the necessity of effective business planning to elevate Serie A back to prominence in European football.
The establishment of a new stadium, jointly with Inter, marks a significant milestone, one Cardinale has been pursuing since he took over the club.
Looking ahead, Cardinale shared updates on the NBA Europe project, stating that negotiations are ongoing and, if a deal isn’t reached with EuroLeague, they will still initiate NBA Europe. He mentioned the readiness to begin construction on a 20,000-seat arena in San Donato if granted the franchise for Milan.
In addition to basketball, the project will explore opportunities in tennis and aims to develop a hospitality and venue management company, which will enhance services for not only the San Siro but also the new Generali Stadium.
Cardinale concluded with aspirations of replicating the success of Legends Hospitality, the company he co-founded in 2009, which has grown into a multi-billion-dollar enterprise. He aims to adapt this business model for AC Milan, possibly in collaboration with another club, to elevate the club’s operations.
Having acquired AC Milan for €1.2 billion in the summer of 2022, just following the Rossoneri’s title win, Cardinale remains focused on the club’s future and its place in both Italian and international football.
