AC Milan’s owner Gerry Cardinale has reportedly finalised his pitch for an NBA Europe franchise owned by RedBird Capital.
It has been written about for months now that Milan’s ownership group have a strong interest in being involved in the NBA’s latest expansion plan, which is a league based in Europe. In addition to adding another sporting arm to the fund, there are immense commercial opportunities.
Read SempreMilan ad-free and get access to exclusive news. Click here for a free trial!
However, there have also been a lot of doubts too, such as whether RedBird would create a new team or partner with another, and if they will get one at all amid rival interest from Inter’s owners Oaktree plus Olimpia Milano.
The timeshare idea
According to Il Giorno, Milan could in the near future – between 2027 and 2028 to be precise – have two basketball teams. Olimpia are in negotiations to sell a minority stake to Oaktree, and the other is Pallacanestro Varese.
EuroLeague Basketball, with the support of the Armani-owned Olimpia, are working towards an agreement with the NBA. FIBA, the FIFA of world basketball, are pushing for a league led solely by American hegemony.
Meanwhile, the balance of power in the shadow of the Duomo is taking shape. Cardinale has made his choice: a partnership is in the advanced stages with Pallacanestro Varese, the Italian club with the most European Cups to its name (five).
There would be no transfer of the naming rights, but Serie A home games will be held in Masnago and NBA Europe home games will be held in a new arena to be built in San Donato, with around 15,000 seats.
This is the choice of the Milan owner and there are no alternative negotiations, contrary to the talk of MalpensaFiere. The city’s response remains to be seen, while Olimpia Milano has made its choice too.
It will move together, along with the other EuroLeague clubs, to reach a collaboration agreement with NBA Europe. Confirmation could be reached by mid-month and in that case, the future of the Cardinale-Varese partnership could be called into question again.
