AC Milan's owner and RedBird founder, Gerry Cardinale, has granted an interesting interview to those at GQ.com.
In this interview, he spoke about a level of stress never experienced before.
Less than two years after acquiring Milan, RedBird's number one, Gerry Cardinale, explained how he is experiencing owning an Italian team, one of Europe's biggest clubs.
Here are the words of the American businessman who discusses the burden of ownership:
"It stresses me out, to be honest with you. In a way that I’ve never experienced before. My thing was always to look at sports as any other industry. You could be manufacturing widgets in Omaha or you could be owning the Giants in New York City. It should be the same. It’s stressful to own things in general, it’s stressful to put this kind of money to work, it’s stressful to be a fiduciary for third-party capital. I now have a new level of stress I’ve not experienced before... It bothers me."
On the subject of ownership, Gerry Cardinale said:
"Will Bezos buy an NFL team? Probably. He could buy the whole league if he wanted to…. If it’s not gonna be the Silicon Valley guys, the next rung down in terms of their ability to pay are the hedge fund guys, the private-equity guys... It's my world", said Cardinale, "the finance-investing-Wall-Street crowd... If it's risky? It’s the right question to ask. It’s not gonna stop."
Gerry Cardinale continued:
"Once capitalism gets involved, there is no moderating it. We are going into corporatized ownership. It’s an arms race. And it’s just gonna keep going. Capitalism will find its way into the cracks."
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