Gerry Cardinale advocates for Milan to emulate the strategic approach of the New York Yankees by pursuing a new stadium, emphasizing that success does not hinge solely on outspending rivals such as PSG or Manchester City. In an interview with Fortune magazine, the American investor highlighted the challenges posed by bureaucratic hurdles in Italy, identifying them as his “nemesis.”
Collaborative efforts between Inter and Milan to refurbish the Stadio Giuseppe Meazza, commonly known as San Siro, have faced setbacks over time, prompting both clubs to explore the construction of entirely new venues. Despite opposition from certain authorities invoking laws safeguarding historical landmarks, Cardinale draws parallels between the situation in Italy and similar developments in the United States.
In urging Milan to emulate the Yankees’ example of transitioning to a modern facility, Cardinale emphasized the potential for growth but also acknowledged the contingency plan of remaining at San Siro if necessary. He notes the familiarity of certain business concepts to American investors attracted to Serie A and underscores the significance of professionalizing club ownership to unlock potential investments.
Cardinale’s sentiments resonate with the prolonged struggle faced by clubs like Roma under foreign ownership, exemplified by their protracted efforts to secure a new stadium. Expressing support for fellow owners in Serie A pursuing similar ventures, Cardinale underscores the broader economic benefits beyond matchday revenues, including ancillary businesses and live entertainment events.
Regarding Milan’s financial strategy, Cardinale emphasizes the importance of prudent capital allocation over extravagant spending, cautioning against attempting to match the financial prowess of clubs like PSG and Manchester City. Despite acknowledging the disparity in revenue and expenditure, he underscores the need for astute financial management to compete effectively.
However, Cardinale’s tenure at Milan has not been devoid of challenges, with recent scrutiny from Italian financial authorities questioning the ownership transition. Rejecting claims that RedBird, Cardinale’s entity, lacks control over AC Milan, spokespersons for the investment group affirm their ownership status unequivocally.