RedBird, Milan and the business with Friedkin

NEW YORK – Under the first real sun of May a Manhattanone Lamborghini yellow like a tropical cocktail snaps at the intersection of the 61st and Lexington, leaving behind the loneliness of the 1920s skyscraper where the man who is referred to as yet another billionaire bewitched by Italian football works on the 16th floor. These are the days when American biodiversity is celebrated, the bearer of dollars, dreams and suggestions. Gerald Joseph Cardinalaged between 53 and 55, personal wealth of over a billion dollars, founder of an international financial holding, the RedBird Capital, would be ready to follow in the footsteps of a president with whom he has common interests: the owner of the As Roma Dan Friedkin. As reported in London by Sky News and the Financial Times, the founder of RedBird Capital has entered into the negotiation for the sale of the AC Milan from the American fund Elliott to that of Bahrain Investcorp. Someone called it just “disturbing action” but it doesn’t seem like that. “At the moment – a spokesperson for the group explained to Corriere dello Sport-Stadio – we do not comment on the news. If anything changes, we will give information “.

Who is Cardinal, founder of RedBird Capital

To push for the American solution according to people familiar with the deal but not confirmed by the club, he would be the CEO of Milan Ivan Gazidis. In 2020, together with a South Korean company, Cardinale invested almost 300 million to get into Skydance Mediathe company that produced the four Academy Award-winning film “Parasite”, distributed by Friedkin. Minority shareholder of Liverpool and majority of the French club of ToulouseCardinal has surveyed eighty clubs across the past two years Europe. Among these there was also Rome, before Friedkin acquired it. Born and raised in the affluent suburbs of PhiladelphiaMain Line, studies ad Harvard and Oxfordwhere he participated, as a rower, in the challenge with CambrdigeCardinale worked for twenty years a Goldman Sachs, managing assets for one hundred billion dollars, before founding RedBird, a holding that in recent years has set in motion a frenzied risk of acquisitions. In just three years, the value of assets under management has gone from 1.5 to 6 billion. Sport is central: like Friedkin, Cardinale plays on multiple tables. Well known to Hollywoodpartner of LeBron James in entertainment, the Italian-American works with football, basketball and hockey leagues, Nfl, Ncaa and Nhl, in addition to the Ryder Cup of golf. In 2021 it acquired shares of Wassermanan international sports and entertainment agency, and paid 37.5 million for 15 percent of the rights to the Indian cricket team Rajasthan Royals. He has founded a new football league, the XFL, league of eight, together with The Rockthe actor Dwayne Johnson. Variety has inserted it with Friedkin among the 500 of America’s Most Influential Peoplea list featuring the founder of Amazon Jeff Bezos and that of Facebook Mark Zuckerbergand star like Brad Pitt, Kim Kardashian, Taylor Swift, Spike Lee and Lady Gaga.

Milan, Cardinal’s strategy

There Cardinal’s strategy it is similar to that of Friedkin, whose style and achievements he admires in Italy: stay behind the scenes, rely on professionals and multiply income through sports results. If Friedkin is considered a Wall Street the number “10” of the Yankee team of the new owners of the A league, Cardinal would be the “9”, the center forward of the area. Together, they say, they could transform the Italian league. But the sheikhs of Bahrain they don’t seem willing to leave the field.

Milan, one step away from the Scudetto

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Milan, one step away from the Scudetto

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