Official: RedBird Thread
- Thread starter Stitches
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milanazkals
Basketball player
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Where money? 
Berlo was a media morgul, revolutionized football management at the time.
Gerry is a former GoldmanSachs guy, very into new media management. Will he revolutionize football management? He wants to do so in Italy.
We should be in for a new era: if this guy will not kick the dust off Serie A*, no one will. And Im reminding you even PIF backed off.
*Feel free to sub Serie A for Italy / Milan. I respect consulting community for stadium plans, but it should take max 3 months and be done already. Then you read that Scaroni interview..
Gerry is a former GoldmanSachs guy, very into new media management. Will he revolutionize football management? He wants to do so in Italy.
We should be in for a new era: if this guy will not kick the dust off Serie A*, no one will. And Im reminding you even PIF backed off.
*Feel free to sub Serie A for Italy / Milan. I respect consulting community for stadium plans, but it should take max 3 months and be done already. Then you read that Scaroni interview..
kevin_dk
Milan Legend
Sale of the club could not have happened at a worse time.
Now next Scudetto will come in 2033-2034. This thought is scary af, give it some time to sink in.
Now next Scudetto will come in 2033-2034. This thought is scary af, give it some time to sink in.
Ash-ish
Milan Legend
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kevin_dk
Milan Legend
What a fucking scam. Legendary stuff.
Brokebird.
American Yong Hong Li.
Brokebird.
American Yong Hong Li.
kevin_dk
Milan Legend
Dude
One whole fucking year ago, now watch all this robbery play out in front of your eyes.
Dude and his scam capital fund has no money specifically set aside for football. Nor do they have the passion for the game.
They are looking at Milan as a security being traded on the securities market.
Glad I said this a year ago.
One whole fucking year ago, now watch all this robbery play out in front of your eyes.
Dude and his scam capital fund has no money specifically set aside for football. Nor do they have the passion for the game.
They are looking at Milan as a security being traded on the securities market.
BillyTheKid
Starting Eleven
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Gerry Cardinale, RedBird's owner, gave a long interview to the weekly Sette of the Corriere della Sera, in which he explained why he chose to buy Milan: "I have always thought that it is one of the 4-5 top clubs in Europe. We are here thanks to what our predecessors did, Silvio Berlusconi, Gianni Rivera before him, Sacchi, Baresi, Maldini...".
After the purchase of the Rossoneri club, some questioned the structure of the operation (RedBird was financed by a vendor loan from Elliott for the acquisition). Cardinale wanted to clarify: "Rubbish. The reality is that 100% of Milan is owned by RedBird: it has invested 600 million in capital and controls 100% of that capital. I considered that continuity with Elliott was a virtue and therefore I preferred a pure loan from him, without shares in the capital, for 550 million at a very interesting interest rate, which I will pay in three years. I could have raised a billion in cash, I could have involved third-party banks, I chose to do it with Elliott, because I have enormous respect for Paul and Gordon Singer. It was an intelligent way of buying Milan: certainty, speed, the possibility of ensuring continuity to start off strong."
Cardinale recently celebrated his first year at the helm of Milan: "I haven't done anything yet! I entered on tiptoe, I maintained the organization I inherited. Furthermore, I have great respect for Paolo Scaroni, chosen by Elliott who done a great job and which I thank: it is so consistent with the world I come from and at the same time so Milanese and authoritative. One of my best moves was bringing Giorgio Furlani (CEO) and Stefano Cocirio (financial director) to Milan who left Elliott without controversy. He gave me the necessary time to evaluate what was working and what wasn't. This is the first season in which I've been involved in the transfer market, the stadium project and we've started to apply our ideas to enhance the brand."
RedBird's owner then commented on the change in management that occurred this summer: "At that moment someone had commented: 'Well, Cardinale doesn't want to spend on Milan'. But do you think he'll invest 1.2 billion to make immediate money? "It's a long-term project: I want to win, but not just once, but many, over time. In football I want to be a Berlusconi 2.0, to have the same impact as him in a completely changed context. Now, with the highest turnover in history of Milan and a balance sheet that will close in the black for the first time since 2006, we face a new phase: we want to be No. 1, but we can't do it without changes."
"It is crucial to understand that data is just one tool in our “toolbox”. From what I read it seems that if you are a data expert then it means you don't do scouting well. It's ridiculous. Moneyball was written 20 years ago, today everyone uses data but in our portfolio there is an analysis company with 13 researchers from MIT. European football is not baseball, it requires a different level of sophistication and we believe we are at the forefront.
Milan and Serie A? The thing that struck me most in this first year is seeing the distance with Chelsea in the two Champions League matches. Therefore I wanted a more physical, faster, more intense Milan, and it showed in the first matches.
"I will do everything to have a winning club, but as a partner of Serie A we must hope for equal commitment to reduce the gap between the entire championship and the Premier League. To achieve this we need to change. I believe I can contribute, I have 30 years of experience, I have worked with the best. The company partners in our portfolio are Apple, Amazon, Paramount, Disney, ESPN, Fox, I have found innovative ways to maximize the value of the product. I'm disappointed that Serie A didn't take this into account. I was willing to share my experiences, but no one seemed to consider them relevant"
"Do I regret investing in Italy? No, I feel at home here. When we bought Milan, in America they told me: “You're crazy, you can't do business in Italy. There is bureaucracy, there is politics." And when I thought about building a new stadium, I was told: “Forget it. Did you see what happened in Rome?”. But, apart from being told that I won't be able to do something, it increases my determination, I see Italy with different eyes, I think that Italians are collaborative and open to dialogue. I would like to invest more here. When we build the new stadium it will be a billion dollar project and it would be a good sign if it were also supported by Italian capital. It would be a response to those who claim that you cannot do business in Italy. What if I go around Milan? I love going around and discovering restaurants that I don't know, I want to integrate, become a bit Milanese. I love being a Milan fan, part of this community. Now people recognize me, I like them to come closer"
Finally, an update on the new stadium that Milan wants to build in San Donato could not be missing: "The conditions are encouraging. With the approval of the Municipality of San Donato and the Region, which we thank, we have already held several very productive sessions. Our proposal is supported by an impressive volume of technical reports it will be a cutting-edge stadium, 10 minutes by metro from the Duomo, we will bring live events, world-famous artists will play there. A missed opportunity for Milan, to our great regret, because I gained great respect for Mayor Sala."
After the purchase of the Rossoneri club, some questioned the structure of the operation (RedBird was financed by a vendor loan from Elliott for the acquisition). Cardinale wanted to clarify: "Rubbish. The reality is that 100% of Milan is owned by RedBird: it has invested 600 million in capital and controls 100% of that capital. I considered that continuity with Elliott was a virtue and therefore I preferred a pure loan from him, without shares in the capital, for 550 million at a very interesting interest rate, which I will pay in three years. I could have raised a billion in cash, I could have involved third-party banks, I chose to do it with Elliott, because I have enormous respect for Paul and Gordon Singer. It was an intelligent way of buying Milan: certainty, speed, the possibility of ensuring continuity to start off strong."
Cardinale recently celebrated his first year at the helm of Milan: "I haven't done anything yet! I entered on tiptoe, I maintained the organization I inherited. Furthermore, I have great respect for Paolo Scaroni, chosen by Elliott who done a great job and which I thank: it is so consistent with the world I come from and at the same time so Milanese and authoritative. One of my best moves was bringing Giorgio Furlani (CEO) and Stefano Cocirio (financial director) to Milan who left Elliott without controversy. He gave me the necessary time to evaluate what was working and what wasn't. This is the first season in which I've been involved in the transfer market, the stadium project and we've started to apply our ideas to enhance the brand."
RedBird's owner then commented on the change in management that occurred this summer: "At that moment someone had commented: 'Well, Cardinale doesn't want to spend on Milan'. But do you think he'll invest 1.2 billion to make immediate money? "It's a long-term project: I want to win, but not just once, but many, over time. In football I want to be a Berlusconi 2.0, to have the same impact as him in a completely changed context. Now, with the highest turnover in history of Milan and a balance sheet that will close in the black for the first time since 2006, we face a new phase: we want to be No. 1, but we can't do it without changes."
"It is crucial to understand that data is just one tool in our “toolbox”. From what I read it seems that if you are a data expert then it means you don't do scouting well. It's ridiculous. Moneyball was written 20 years ago, today everyone uses data but in our portfolio there is an analysis company with 13 researchers from MIT. European football is not baseball, it requires a different level of sophistication and we believe we are at the forefront.
Milan and Serie A? The thing that struck me most in this first year is seeing the distance with Chelsea in the two Champions League matches. Therefore I wanted a more physical, faster, more intense Milan, and it showed in the first matches.
"I will do everything to have a winning club, but as a partner of Serie A we must hope for equal commitment to reduce the gap between the entire championship and the Premier League. To achieve this we need to change. I believe I can contribute, I have 30 years of experience, I have worked with the best. The company partners in our portfolio are Apple, Amazon, Paramount, Disney, ESPN, Fox, I have found innovative ways to maximize the value of the product. I'm disappointed that Serie A didn't take this into account. I was willing to share my experiences, but no one seemed to consider them relevant"
"Do I regret investing in Italy? No, I feel at home here. When we bought Milan, in America they told me: “You're crazy, you can't do business in Italy. There is bureaucracy, there is politics." And when I thought about building a new stadium, I was told: “Forget it. Did you see what happened in Rome?”. But, apart from being told that I won't be able to do something, it increases my determination, I see Italy with different eyes, I think that Italians are collaborative and open to dialogue. I would like to invest more here. When we build the new stadium it will be a billion dollar project and it would be a good sign if it were also supported by Italian capital. It would be a response to those who claim that you cannot do business in Italy. What if I go around Milan? I love going around and discovering restaurants that I don't know, I want to integrate, become a bit Milanese. I love being a Milan fan, part of this community. Now people recognize me, I like them to come closer"
Finally, an update on the new stadium that Milan wants to build in San Donato could not be missing: "The conditions are encouraging. With the approval of the Municipality of San Donato and the Region, which we thank, we have already held several very productive sessions. Our proposal is supported by an impressive volume of technical reports it will be a cutting-edge stadium, 10 minutes by metro from the Duomo, we will bring live events, world-famous artists will play there. A missed opportunity for Milan, to our great regret, because I gained great respect for Mayor Sala."
