Cardinale says MSE will give Milan ‘financial muscle’ and reiterates: “I will never sell”
By: Isak Möller
Gerry Cardinale has commented on the launch of AC Milan’s new holding company, Milan Sports & Entertainment (MSE), stating that he will never sell the club.
Yesterday, it was confirmed that RedBird had launched the new holding company to ‘consolidate RedBird’s Milan-based investments in sports, infrastructure, and entertainment’. From the new stadium to the NBA Europa project, there are big plans for the company.
Brett Yormark has been appointed as the CEO of MSE after impressing as the Commissioner of the Big 12 Conference (college sports), labelling it ‘an honour’ to get the position. It doesn’t mean that we will see less of Cardinale though, quite the opposite.
Cardinale aims high
In an interview with Gazzetta dello Sport this morning, Cardinale outlined exactly what he wants to achieve with MSE and explained why he will never sell the club. Silvio Berlusconi 2.0, as he calls it, with the goal of taking Milan back to the very top.
Cardinale, what benefits will AC Milan gain from the holding company?
“The driving force behind deals like this is to provide AC Milan with the financial muscle needed to compete in the transfer market and secure the best players in the world.
“I will transform the club’s financial profile with the resources that will come from the stadium, the San Donato Arena, and the other activities we are working on with NBA Europe.
“I’m doing everything I can to ensure that, when we want a player, no one can tell me, ‘You can’t sign him because you can’t afford him.’ Currently, only Premier League clubs are able to invest such sums and secure top players.
“If I want to bring AC Milan back to the top of European competition, not just in Italy, we need to figure out how to compete with the world’s top clubs.”
This project confirms that your commitment to Milan is long-term…
“Yes. I will never sell AC Milan. Never. And this is a project to get them back to winning ways. I’m not willing to tolerate it taking a long time to achieve this. I want to do it as soon as possible. We’ll see how quickly…
“My goal is to consistently win Scudetti and, of course, return to the Champions League. Milan Sports & Entertainment represents the foundation to make all this possible.
The connection with Milan deserves a separate mention: RedBird and the city are now even more connected…
“This is the legacy we will leave in Milan. The stadium, obviously, represents a huge legacy that will transform our financial profile, but then there’s also the San Donato development project and the rest.
“If we want AC Milan to become great again, we need to close the revenue gap with the Premier League clubs. When I bought the club four years ago, I used the expression ‘Berlusconi 2.0’ and no one understood what I meant. Now perhaps we are starting to see it.”
Please elaborate a little…
“Everyone thought I was making an arrogant, self-centred comparison between me and Berlusconi, but that wasn’t my point. What I was trying to explain was that, just as Berlusconi transformed AC Milan and Serie A, we want to be able, through our ownership, to lead the club into a new era.
“We need to do it in the same way Berlusconi did, albeit in a modern way. I’m used to working a certain way because that’s how I do things, at the highest levels worldwide and in America.”
Could your “recipe” also be valid for Serie A?
“Of course, even for Serie A. In my opinion, it wouldn’t have been a good deal to sell 30% of the league’s international TV rights when JP Morgan made that offer. That’s not how Serie A can return to the top of Europe.
“It needs to be done through business planning and by creating every opportunity to generate new revenue. Like we will do with Milan Sports & Entertainment.
“We will be the first to build a stadium since 2011, and that’s a huge achievement. I started working on it when I bought AC Milan, and finally… the right time has arrived.”
Do you think others will follow you on this path?
“No. Some may do it, others may not. We know what it takes to innovate and change. To avoid continuing to practice Einstein’s definition of insanity, according to which everyone wants a different outcome, but doesn’t want to do anything different to get it.”
How long do you think it will take to complete the other projects that will be part of the new holding company?
“I think the NBA is negotiating with the Euroleague, but one way or another, if they can’t reach an agreement, NBA Europe will still launch. Perhaps the first batch of new franchises for Europe will be announced at the end of the year or in early 2027.
“We will see when that happens… We own the land in San Donato, and if I’m granted the Milan franchise, I will be able to start construction fairly quickly because we already have planning permission for a 20,000-seat arena.
“We will also continue to explore opportunities and hold discussions within the tennis world and to organise a tournament in Milan. Finally, we are already making progress in building and launching a hospitality and facility management company.”
Does your plan include organising and managing hospitality services for other clubs’ stadiums as well, not just the new San Siro?
“Yes, the model is the company I created in 2009, called Legends Hospitality. I created it with the New York Yankees and the Dallas Cowboys. Now that company is worth several billion dollars.
“We not only sell premium seats, suites, merchandise, and hospitality, food, and beverage services for Yankee Stadium and Cowboys Stadium, but also for other clubs. I would like to adopt the same model here, probably in partnership with another club.”
Not many football clubs in the world have established an organisation like the one you are leading…
“Exactly. My ambition is to compete with the best clubs in the world. I want to do so thanks to my global vision of the world of sports and entertainment.
In an effort to generate new revenue, are you also considering a tour for AC Milan next summer? Will that still be Australia or the United States?
“We have already discussed it with Amorim, and I will just tell you that if we play friendlies abroad, they will be in the United States next summer. If we do… We haven’t decided yet, and the decision will be up to Ruben.
“It will depend on what’s best for the team: playing friendlies abroad must add value to the group, not bring in a couple of million for the club. Those extra two million will no longer be our goal, as they were under the previous management. That won’t happen again under this ownership.
“Everything we organise in terms of friendlies will be carefully considered with our coach. Every move. And we won’t participate in tours organised by others. We put our players first. We want to help them prepare well to win. That’s our goal, and we aim to achieve it as soon as possible.”
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