RedBird Capital has launched Milan Sports & Entertainment, a new holding company designed to manage the group’s current and future investments across sport, infrastructure, and entertainment in Milan.
Brett Yormark will lead the newly formed company. Yormark currently serves as commissioner of the Big 12 Conference and previously worked as president and chief executive officer of Brooklyn Sports & Entertainment, where he managed the Brooklyn Nets and the Barclays Center.
The holding structure includes the official objective of evaluating the opportunity to hold a franchise based in Milan as part of the NBA’s new European project. The initiative confirms that RedBird has not abandoned the concept of bringing an NBA Europe team to the Italian city.
“Today we apply this experience on a different scale: not to a single club, a single sport or a single facility, but to an entire city and to a portfolio that includes sport, lifestyle and entertainment,” said Gerry Cardinale, founder and managing partner of RedBird Capital, in La Gazzetta dello Sport.
Milan will remain the central pillar of the platform, alongside operations spanning hospitality, merchandising, infrastructure, and live entertainment. Additional dossiers involve developing a new sports destination in San Donato and exploring options to bring a major international tennis event back to Milan.
“With the Milan as a point of reference, which will always be the driving force of all our initiatives, we intend to build a world-class sport and entertainment platform,” Cardinale told La Gazzetta dello Sport.
The holding company integrates RedBird’s local projects under one corporate umbrella. Work proceeds on plans for the San Donato sports destination alongside discussions regarding the possibility of bringing a major international tennis event back to Milan.
The organization of Milan Sports & Entertainment groups assets into a dedicated corporate vehicle. Future updates on franchise evaluations and infrastructure timelines will arrive through official club and corporate channels.
Related reading
