The CEO of Milan, Giorgio Furlani, intervened during the 'Investopia 2024 Abu Dhabi' event, initiated by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai. Here are his statements, as relayed thanks to Milan News:
"Before taking on the role of CEO, the focus was on achieving a turnaround, with priorities on efficient management and profitability. Subsequently, with the acquisition by RedBird Capital Partners, which led to my appointment as CEO, an exciting phase of global growth was initiated."
Dubai and the Middle East...
"Thanks to the guidance of our ownership, we are strategically positioned to enter a new phase of growth, with a strong focus on the Middle Eastern market as well. We are here to talk about investments in football, and one of the main investors is undoubtedly our partner Emirates. This is the 15th year we've had Emirates on our jersey, demonstrating the strength of our relationship; they are a wonderful partner. The opening of an office in Dubai further demonstrates our commitment to the region for further collaborations and growth. Dubai and the surrounding region are of great importance to us, and we anticipate continued expansion and growth opportunities with Emirates, consolidating our presence in this market."
Furlani spoke about sports investments...
"Several factors come into play when assessing the attractiveness of the sports market. The transformation of the industry from purely 'recreational' activities to a thriving economic sector has greatly increased its appeal. Additionally, governance and institutional investments have further contributed to its growth potential. With RedBird's experience in this sector, we are well positioned to seize emerging opportunities. Considerations such as liquidity needs and regulatory frameworks have played a crucial role, especially in light of the challenges posed by the COVID-19 pandemic. Leagues and clubs have faced unprecedented financial pressures, making investments necessary to navigate uncertain times. Looking ahead, the sports industry remains fertile ground for partners, sponsors, and advertisers, given its wide participation and entertainment value."
Private equity and investment strategies...
"In terms of corporate strategy, we operate on three fundamental pillars: football – the reason we exist; financial sustainability – we need to be financially sustainable; and social responsibility – we are not just a football club but a social and cultural institution. Regarding the second pillar, sustainability is crucial for attracting capital. We have seen this in our financial structure. The other aspect concerns the company's growth; we have something called intellectual capital and we work together with other financial capital providers to develop business models and bring the two things together. This ranges from academies to the retail sector, from experiential to the medical sector."
Investments in the football industry
"Premier League clubs and top continental clubs stand out as promising investment targets within the sports industry. The solid structure of these leagues, particularly in Europe and the United States, offers substantial opportunities for investors seeking long-term profitability."
On the future of Milan, Furlani said:
"Looking ahead, AC Milan's future path involves continuing our international expansion into the Middle East and America, along with the ambitious project of a new stadium in San Donato. Our current stadium, with its age and limitations, no longer meets the necessary standards to offer an optimal experience to our fans."
On the new stadium issue...
"Regarding the stadium, the Club's position is clear: we have listened to Mayor Sala, with whom there is strong esteem and respect, but the priority is the San Donato project."
