The owner of Milan and number one of RedBird, Gerry Cardinale, spoke to the microphones of 'Fortune' microphones.
The American entrepreneur begins by talking about investments in the world of sports:
"Sport is no longer a hobby for rich kids. Sport is a multibillion-dollar business for live event entertainment, and to succeed in these things, you need to have relationships and multidisciplinary skills in a whole range of activities."
RedBird's number one continues talking about San Siro, Gerry Cardinale said:
"It's time for Milan to do what the Yankees did in 2008 (Building the new stadium, Yankee Stadium, Editor's note). Their old stadium was old. Babe Ruth, Joe DiMaggio, Mickey Mantle, and Roger Maris played there; it was iconic, but they realized a new facility was needed."
And on investments, the owner of Milan specifies:
"It's not about spending more than others; it's important to spend better than others."
The organization of live events is also crucial:
"Many years ago, just organizing a party would attract people, but today there is tremendous competition for people's leisure time, so if you intend to charge for an event, you have to ensure that the event lives up to the price."
Meanwhile, the new Rossoneri ownership has purchased a series of lands in San Donato, intended for the construction of the new stadium, Gerry Cardinale said:
"I wanted to have the certainty of having a concrete feasible option for the stadium. If we don't succeed, we'll stay at San Siro,"
Cardinale specifies. Speaking of Serie A, the Rossoneri patron stated:
"It's a type of league that attracts American investors. They have realized the legacy and history of some of these poorly managed brands. They have realized the potential of having a great investment in their hands, simply by professionalizing ownership."
Regarding the ongoing investigation into the sale of Milan, a RedBird spokesperson wanted to clarify:
"The idea that RedBird does not own or control Milan is simply false and contradicts all evidence and facts."
Meanwhile an Elliott spokesperson provided further clarification: "The Elliott fund has no equity interest or control over AC Milan."
Relayed by Milan Press
