• Loading stock data...
Friday, March 29, 2024
2024 Best Venues nominations are open now through April 8! Submit Now

AC Milan Owner Believes Club Deserves New $733M Stadium

  • The club has hired architecture firm Populous for the project coined “The Cathedral.”
  • Last month, RedBird Capital Partners finalized a deal to purchase AC Milan for $1.3 billion.
AC Milan and Inter will build separate new stadiums, ending their historic shared tenure at San Siro.
AC Milan

AC Milan owner RedBird Capital Partners believes the Italian soccer club deserves a new stadium to ensure a bright future. 

“A brand of this scale should have infrastructure that is indicative of its football prowess and global potential,” RedBird founder Gerry Cardinale told the Financial Times. 

A new stadium for AC Milan — which, based on different reports, could range from 50,000 to 70,000 seats — would also mean a new home for fellow Serie A rival Inter Milan, who have been co-tenants at the historic Giuseppe Meazza Stadium at San Siro since 1947. 

AC Milan has already kickstarted the process of building a new stadium. 

  • In 2020, Italy’s heritage authority approved the demolition of San Siro.
  • The club has hired architecture firm Populous for the project coined “The Cathedral.”
  • The development is estimated to cost roughly $733 million

Last month, RedBird finalized a deal to purchase AC Milan for $1.3 billion from New York-based investment firm Elliott Management, which will keep a minority stake in the club. 

RedBird, which has $6 billion in assets under management, won its bid for the club over Investcorp — the Middle East’s largest alternative assets manager.

Things Looking Up 

A potential new home for AC Milan comes amid promising results both on and off the pitch. 

AC Milan won its 19th Serie A title in the 2021-22 season, and the club is currently the 14th-most-valuable soccer team in the world at $1.2 billion, per Forbes.

It has generated $257 million in revenue in 2022, up from $165 million in 2021.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

The NFLPA Report Card Is Doing Exactly What It Was Intended For

Robert Kraft hasn’t gone to school in nearly 60 years, but on Tuesday the Patriots’ owner found himself talking about his report card. 

How Lack of Planning by NCAA, Gonzaga Led to Racial Abuse of Utah Athletes

The NCAA gave Gonzaga a waiver to place teams in an extremist hotbed.

NCAA President Calls for Nationwide Ban on College Prop Bets

The NCAA president is reacting to the recent betting turmoil in sports.

It Remains Unclear Which Authorities Shohei Ohtani Has Reported Theft of Millions to, If Any

A federal investigation is ongoing, but it’s not clear what it covers.
podcast thumbnail mobile
Front Office Sports Today

Why the Timberwolves Sale was Called Off

0:00
0:00

Featured Today

March 22, 2024, Brooklyn, NY, USA; Northwestern Wildcats guard Brooks Barnhizer (13) and Northwestern Wildcats guard Boo Buie (0) react in overtime against the Florida Atlantic Owls in the first round of the 2024 NCAA Tournament at the Barclays Center.
March 27, 2024

‘An Expensive Game’: March Madness and NIL Collectives Are Intertwined

At schools nationwide, collectives are fueling NCAA tournament runs and vice versa.
Iowa’s Caitlin Clark (22) waits to be announced in the starting lineup against West Virginia in a NCAA Tournament round of 32 game Monday, March 25, 2024 at Carver-Hawkeye Arena in Iowa City, Iowa.
March 26, 2024

The Women’s Trading Card Market Is Overlooked. Can Caitlin Clark Change That?

Traditionally, women’s sports cards have been a marginal part of collectibles.
The Sports Illustrated cover signed by Derek Jeter and Alex Rodriguez, February 27, 2019, at Don & Charlie's, 7501 E. Camelback Road, Scottsdale. Don Charlie S
March 24, 2024

Everything You Need to Know About the Ongoing ‘Sports Illustrated’ Saga

Understanding the strange state of affairs for the nearly 70-year-old publication.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Live Nation
Multiple - USA Careers
Adidas
Multiple - USA Careers
Spotify
Multiple - USA Careers
Kansas City Chiefs president Mark Donovan

Chiefs’ President: Team Keeping ‘All Options’ Open If Stadium Vote Fails

The Chiefs’ president said he’s ‘cautiously optimistic’ that a public vote would pass.
March 26, 2024

Chiefs and Browns Could Break Tradition, Leave Longtime Homes

The two-time defending Super Bowl champions lay down a renewed threat.
March 27, 2024

Leonsis Makes Stunning Turn Back to D.C., Will Renovate Capital One Arena

D.C. to spend $515 million on venue renovations as the Virginia plan is now dead.
Sponsored

How Daily Fantasy Sports Solved NBA Fantasy

The remarkable growth of the #1 Discord sports server in the world.
March 22, 2024

D.C. Attorney General: Caps and Wizards Can’t Leave Until 2047

Bond debt in a 2007 contract is the main reason the move can’t happen.
March 21, 2024

Building Up? Philadelphia’s Arena Developments Gain Steam, Tension

Comcast Spectacor brings in the Phillies as a development partner in the existing sports complex.
March 21, 2024

Phillies Join in $2.5 Billion Redevelopment Plan for Philadelphia Sports Complex

The club is now involved in the remaking of the stadium area.
March 20, 2024

Are the Olympics Getting Too Big? Pushback in Brisbane Sparks Debate

Australian officials move forward with stadium renovations instead of building a new facility.