RedBird Capital Partners (“RedBird”) today launched Milan Sports & Entertainment (“MSE”), a holding company that will bring together RedBird’s investments in Milan across sport, infrastructure and entertainment.
The new company will bring individual assets together on a single integrated multisport platform, with centralised management, shared expertise and coordinated partnerships across its activities.
As Italy's financial and commercial capital and a global centre for fashion, design and culture, Milan brings together sectors reshaping the future of sport, entertainment and live events. New private investment, infrastructure development and changes across the sports industry are reshaping Europe. Milan has the characteristics and scale to become one of the world's most influential sports and entertainment markets. MSE aims to seize the opportunities created by the convergence of these sectors, bringing world-class sports organisations, infrastructure, live entertainment and cultural experiences together on a platform rooted in Milan, with global reach and ambitions.
Above all, MSE represents RedBird's long-term investment in Milan and commitment to the city's future.
AC Milan sit at the heart of MSE. The second-most successful club in Champions League history have seven European titles, 19 Serie A titles and a global community of more than 650 million AC Milan fans. The club underpin MSE's ambitions, bringing an internationally renowned brand and a deep connection to the city whose name they bear.
MSE also aims to develop a broader sports and entertainment ecosystem in Milan. Its plans include a stadium and arena management business covering food and beverage services and sales, merchandising and premium suites; an assessment of the opportunity to own a Milan-based franchise in a proposed NBA Europe league; a new sport and live entertainment destination in San Donato; and an exploration of opportunities to strengthen Milan's role in international tennis.
RedBird has created and developed businesses in sport, media and hospitality, including Legends Hospitality, On Location, YES Network and EverPass. MSE will draw on that experience to build a platform with greater overall value, commercial opportunities and global influence than its individual businesses could achieve alone.
Gerry Cardinale, Founder and Managing Partner of RedBird Capital, said: "Over the past 25 years, we have worked alongside rights holders in sport and media to create innovative businesses that have transformed their respective sectors. This evolution is founded on a deep respect for the intellectual property underpinning these organisations, long-term partnerships with rights holders and the ambition to realise the full potential of these teams and leagues, on and off the field.
Milan Sports & Entertainment is the result of that journey and the work we have undertaken since we first invested in AC Milan four years ago. Becoming club owners has given us an even deeper understanding of what creates long-term value: winning, serving fans and investing in the communities that give these institutions meaning.
Today, we are applying that experience on a different scale: not to a single club, a single sport or a single venue, but to an entire city and a portfolio spanning sport, lifestyle and entertainment. I have known Brett Yormark and worked with him for 25 years, and I cannot imagine a better executive in international sport to help deliver this strategy. With Brett, we can bring the best of American sport and live entertainment to Milan, helping to write a new chapter in the city's growth and international standing. With Milan as our point of reference, who will always be the driving force behind all our initiatives, we intend to build a world-class sports and entertainment platform capable of shaping the future of Milan and European sport and bringing European sport back to the forefront of the global stage."
Brett Yormark appointed CEO
RedBird are assembling the leadership team for the new holding company and have appointed Brett Yormark as CEO. Reporting directly to Gerry Cardinale, Yormark will lead MSE's strategy and oversee its current activities while assessing future investment opportunities.
With more than 30 years of experience creating, developing and leading organisations in sport, media and entertainment, Yormark is currently Commissioner of the Big 12 Conference. He will leave that role at the end of January 2027. During his tenure at the Big 12, he has:
- Led a period of significant expansion, commercial growth and brand transformation.
- Agreed a landmark media-rights deal with ESPN and Fox running through the 2030-31 season.
- Overseen the conference's geographical expansion through the addition of the Four Corners universities: University of Arizona (Wildcats), Arizona State University (Sun Devils), University of Colorado Boulder (Buffaloes) and University of Utah (Utes).
- Brought an entertainment-focused approach to college sport, enhancing the Big 12's major events and strengthening its brand through innovative marketing, partnerships and storytelling.
- Established the first Big 12 Business Advisory Board, bringing prominent business figures together to support the conference's commercial strategy and long-term growth.
- Before joining the Big 12, Yormark was Chief Executive Officer of Brooklyn Sports & Entertainment ("BSE"), where he oversaw the Brooklyn Nets NBA franchise and the Barclays Center. During his tenure, he: Played a central role in the franchise's move to Brooklyn and agreed a record-value, 20-year arena naming-rights deal with Barclays in 2007.
- He established the Barclays Center as a leading live-entertainment destination after it opened in 2012, with around 11,000 season tickets sold and around 80% of suites allocated in its first season. In its first year, the arena hosted around 200 events and welcomed more than 2.1 million visitors.
- Positioned the Nets among the leading NBA teams and as a global brand, taking them from 31st to 4th in NBA merchandise sales and from 27th to 5th in ticket sales
- Expanded BSE's venue portfolio, leading the renovation, reopening and subsequent management of NYCB LIVE, the Brooklyn Paramount and Manhattan's historic Webster Hall.
- Oversaw all activities at the Barclays Center and NYCB LIVE, including operations, event programming, sales and marketing
Brett Yormark said:
"It is an honour and a privilege to take on this role in a city with Milan's history and passion for sport. I recognise the responsibility of leading an organisation connected to institutions that mean so much to their fans and communities. Throughout my career, I have helped sports organisations evolve, expand their reach and create new opportunities. I look forward to drawing on that experience to deliver RedBird's vision for MSE. I am excited to work alongside Gerry, RedBird and our colleagues in Milan to turn this vision into concrete, lasting results."
