THE FUSE

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Red Bird Capital launches Milan Sports and Enternainment, a holding company that will bring together Cardinale’s investments in Milan in the sports, infrastructure and entertainment sectors. Brett Yormark will be CEO.

He has 30 years' experience in sport and heads the Big 12, one of the most important leagues in American NCAA college basketball. His appointment will not affect AC Milan's management structure. Massimo Calvelli remains firmly in place as chief executive.

AC Milan and the city of Milan will become the fund's second operational hub, behind only New York. The aim is to develop other activities that generate revenue for the holding company, Milan Sports & Entertainment, while also benefiting AC Milan.

Cardinale and his staff are working on several projects: developing the new Generali Stadium, making use of the land in San Donato Milanese (where AC Milan had originally considered building their new stadium), possible involvement in the NBA Europe project, and new investments in hospitality, events and international tennis.

Based on Via Aldo Rossi, the club will be the newly established platform's main asset. The plan is to increase the value of the AC Milan brand and use its international recognition to create commercial opportunities and links with other sports and entertainment activities.

Red Bird Capital previously bought the San Donato site for a new stadium before turning to the project shared with Inter at San Siro. The site will be central to the new project.

There, MSE intends to develop a new destination for sport and live entertainment, creating value from its investment. The most concrete idea to emerge in recent months is a multi-purpose arena for basketball, concerts and events. Cardinale has already confirmed the possibility of a venue with around 20,000 seats.

MSE also intends to explore ways to strengthen Milan's position in international tennis and expand the range of sporting events the city hosts.

For Cardinale, these investments signal a long-term commitment to AC Milan and an ambition to return the club to the elite of international football. His enthusiasm as the 2.0 version of the AC Milan owner shows in his regular visits to Milanello and full support for the new sporting project. The investments also point to a commitment to putting down deep roots locally.

The Generali Stadium, due to open in 2031, does not appear to be the final stage of RedBird Capital's AC Milan project. That puts to rest recent speculation about a possible sale of the club. Cardinale is stepping up his commitment, not backing down: AC Milan are at the centre of the American fund's investments.