Profile: AC Milan’s new owners will channel their inner Hulk to create a multibillion business
PR | Gerry Cardinale
Sports teams have become mini Disneys, but the people and infrastructure haven’t kept pace. AC Milan’s new owners aim to change this.
RedBird’s Gerry Cardinale has been critical of sports valuations, saying they are too low and neither reflect the scarcity value or the coming convergence of sports, culture and entertainment industries.
Why it matters: Milan’s €1.2 billion takeover would have been the biggest in football history had it not been for the enforced sale of Chelsea a few days earlier.
The perspective: With a reported price of less than €20 million, RedBird’s previous football acquisition of Toulouse represented a low risk bet. Milan’s value proposition remains harder to judge.
15 June 2022 - 2:52 PM
The first thing that greets visitors to RedBird Capital Partners New York offices is the angry visage of a comic book hero-cum-villain.
A ten-foot-high statue of the Incredible Hulk, huge and sinewy, face in a paroxysm of rage, glares at guests as they disembark from the elevator.
The Hulk’s presence, RedBir
Get smarter in minutes. Straight to your inbox
21-day free trial
Activate instantly with the link we’ll send you.
