A big summer is approaching for Gerry Cardinale, one that could potentially see him commit to a huge amount of investment.
La Gazzetta dello Sport writes that the RedBird Capital No.1 will have ‘a billion and a half things’ on his mind. Indeed, Cardinale will have to make decisions in many areas in the coming months, both in relation to Milan and other interests in Italy.
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There is the stadium, which for Milan and Inter represents an investment of at least €800m each. Then there is the NBA Europe opportunity, with an estimated entry cost of €500m and an arena to build for (initial hypothesis) another €400m. Plus, the squad needs some help.
The market
Fans are primarily focused on the club and the pitch, and understandably so. With all the interest imaginable in NBA Europe, their Monday morning mood depends on the 20:45 CEST kick-off the night before.
RedBird have a decision to make: either keep the current structure of Giorgio Furlani, Zlatan Ibrahimovic, Igli Tare and Massimo Calvelli as seems likely, or make some changes pending a review into how the season has gone.
Then, they have a plan to pursue: strengthening a team that needs, first and foremost, a central defender and a striker, as well as more quality depth ahead of a season with both the league and European football.
So far profitable accounts have been the trend, but the transfer window envisioned for the summer is inevitably ambitious, and therefore expensive. As always, it will be a matter of choice which in turn dictates the cost.
In attack, for example, there are solutions for all tastes and all price points. There is a €62m man like Moise Kean (his release clause), €35-40m projects like Mateta (or Gimenez, or Nkunku), or a venerable samurai who’s available for free like Robert Lewandowski.
The stadium
The stadium is a decidedly less popular but equally interesting topic. Milan and Inter have been discussing the stadium for months with Manica and Foster + Partners, the two architecture firms responsible for its design.
Decisions are being made, some highly technical, others of collective interest. For example, what will the stadium’s exterior look like? Discussions (and debates, some heated) are underway. Regardless of the decisions, the stadium is a complex and expensive project, costing at least €1.5bn.
For RedBird, therefore, it will be an investment of at least €800m, obviously a significant one. The first decisions are expected in June and the crucial hearing at the Regional Administrative Court (TAR) is scheduled for June 23rd, where all the appeals from the anti-stadium committees will be examined.
In parallel, the prosecutor’s office’s investigation into the sale to Milan and Inter will continue. Following searches by the Guardia di Finanza, the analysis of files and documents is underway.
Extra-curriculars
Basketball plays a role in this scenario. Cardinale and RedBird had to make an initial decision by March 31st and they have decided to submit a non-binding offer to the NBA for the league’s Milan franchise, which is expected to launch in the fall of 2027.
RedBird are in talks with Pallacanestro Varese about a partnership and are considering the opportunity to embark on a highly attractive venture but also a very costly one. The cost of joining the league is estimated at €250-500m, while the cost of building an arena is estimated at €400m.
It is not a small sum, especially since capital will also be needed for subsequent management f the facility. On April 28th, there will be a meeting between the NBA, FIBA and the Euroleague that could shed much light on the balance of power in European basketball.
The Euroleague, for example, is pushing to have Olimpia Milano – not a new ‘AC Milan Basketball Club’ – at the centre of its project.
Clown with out money….🤡