Gerry Cardinale has explained why he believes that AC Milan are a hidden gem and why European football continues to have so much potential.
Sportico spoke to ‘more than two dozen bankers, lawyers and investors’ directly involved in soccer to gauge the 50 most valuable teams. Manchester United leads the way at $5.95 billion, followed by Real Madrid ($5.23 billion), FC Barcelona ($4.95 billion), Liverpool ($4.71 billion) and Bayern Munich ($4.46 billion).
There are five other billion-dollar clubs by Sportico’s estimations, with Tottenham Hotspur at $3.19 billion then a big drop to 11th-ranked Juventus at $1.73 billion. Milan are No.14 at $1.2 billion, just ahead Inter ($1.12 billion).
Cardinale spoke during an interview with Sportico in which they revealed that Milan are actually the 14th-most valuable football club in the world, above rivals Inter and Roma.
“European football is the best live-event intellectual property in the world. I think AC Milan is one of the best in the money options that I’ve seen. It is one of the top global brands in European football and an undervalued asset. It’s a hidden gem,” Cardinale said.
Cardinale also mentioned how the public-private partnership in Europe is the ‘biggest fundamental philosophical difference’ when compared with the United States.
“I always look for dislocation. And I look for opportunities where my capital can solve problems, and that was very apparent to me, both with AC Milan on the micro level and Serie A on the macro,” he added.
Cardinale is laying the foundations for a new stadium for Milan, but he also wants to close the media rights gap between Serie A and Spain’s LaLiga, which is currently twice as high, as well as the Premier League where it is three times.
“Cash flow will not just magically appear: something has to be done. But if you truly believe in the quality of this intellectual property and the must-have nature of this content locally, nationally and globally, then there is absolutely no doubt that sooner or later they are generating cash flows.”
