"Well, first of all, it depends on the jurisdiction you own in. It's probably the hardest thing I've ever done. It's a challenge because the ecosystem I operate in is very resistant to change. But that's also the investment thesis. In three years of owning AC Milan, we've been cash flow positive for the first time in 17 years. And I don't keep that money for myself, I reinvest it in the team."
"We're building a new stadium. Not to pocket money, but to transform Milan's financial profile and bring it to the level of Premier League teams. The real competition isn't the other 19 Serie A teams, it's the Premier League. That's an economic black hole that drains wealth from the continent. They have almost four times the TV revenue of other European leagues - and that's a problem. Yet, in Serie A, the last team can beat the first on any given day."
Gerry Cardinale founded RedBird Capital Partners in 2012 with a focus on sports, media and entertainment. He purchased AC Milan from Elliott Management after the 2021-22 Scudetto campaign. The club registered three consecutive years of profit and reached cash flow positive for the first time in 17 years. Profits are being reinvested into the squad, and Milan spent more than any other Serie A team in the last summer window. A new stadium project aims to elevate Milan's revenue profile to Premier League levels. The Premier League represents the primary economic competitor while Serie A remains highly competitive on the pitch.
Read at SempreMilan
Unable to calculate read time
Collection
[
|
...
]