AC Milan owner and founder of RedBird Capital Partners, Gerry Cardinale, has spoken exclusively to Fortune.
Here are his words:
"If you have the right intellectual property, you can absorb the transitional changes from one distribution model to another."
There are some clues to glean from Cardinale’s approach at RedBird. There, he has expanded the definition of intellectual property: RedBird’s portfolio includes AC Milan; an investment in the holding company that owns the Boston Red Sox; and a company built around the work of children’s book author Mo Willems. "We’re an IP monetization engine", Cardinale says. "That’s what we do."
On wanting to build a new impressive stadium for Milan with a gargantuan Yankee Stadium–style temple to commerce, filled with VIP boxes, restaurants, and merch shops, Cardinale said:
"I’m able to look at the sports industry, and the media and entertainment industry, as ecosystems. And then what I do is I look for dislocations. I look for areas where there’s a need for improvement, evolution, and professionalization."
Cardinale chalks some of his success up to being in the right place at the right time...
"Look, I’m not a genius. I mean, I just got lucky in my career that Steinbrenner came calling in 2001. Sports wasn’t an asset class back then. Next thing you know the world caught up to me, and I just kept going with sports, not knowing that it was going to become what it became."
Despite having worked in sports, movies, and media for virtually his whole career in finance, Cardinale doesn’t see himself as entirely part of this world...
"I really think being from outside that ecosystem—or at least one foot in, one foot out—is a huge competitive advantage. I don’t get caught up in the headlines. I don’t get caught up in the emotionalism. I’m not running to go to the Oscars."
