Milan and Cardinale, American plan

Gerry Cardinale launches Milan Sports & Entertainment, a holding company to consolidate RedBird's investments in sport, infrastructure and entertainment across Milan.

Gerry Cardinale has announced the creation of Milan Sports & Entertainment (MS&E), a holding company that will unite RedBird's investments in Milan across sport, infrastructure and entertainment. The move signals Cardinale's long-term commitment to the city and positions Milan at the centre of RedBird's global portfolio, which manages over $21 billion in assets including stakes in Skydance and major media properties.

Brett Yormark, a heavyweight figure in American sports, has been appointed to lead MS&E. Yormark is the commissioner of the Big 12 college sports conference and previously spent 14 years running the Brooklyn Nets and Barclays Center, where he secured a record naming-rights deal and transformed the arena into a major live entertainment venue. He also served as chief operating officer of Roc Nation, Jay-Z's entertainment company.

The new structure suggests Milan will become central to RedBird's strategy. Current Milan CEO Massimo Calvelli is expected to focus on the club itself, while MS&E will operate internationally and develop entertainment capabilities, including hospitality, merchandising and premium suites.

The announcement hints at ambitious plans including potential NBA expansion to Europe, with references to San Donato land owned by Milan earmarked for a new sports and events hub.