The owner of the reigning champions AC Milan stated on Thursday that the Serie A soccer league in Italy should avoid the temptation of handing over some of its business to outside investors in exchange for a short-term cash injection. When it was reported that banks and investment firms were interested in purchasing a portion of Serie A’s media rights operation, Gerry Cardinale, the founder of RedBird Capital, was questioned regarding these rumours.
AC Milan owner says Serie A should steer clear of outside investment
Serie A’s primary media business has attracted the attention of a number of banks and investment firms, and the league’s clubs are scheduled to meet later this month to discuss their next move in the industry. As clubs on the continent search for ways to bridge the financial gap with the English Premier League, the Bundesliga in Germany is also adopting a plan that is analogous to this one.
“I’m not a buyer of that, I’m not a supporter of that,” he told.
“Why mortgage your future?” added the former Goldman Sachs banker. “We can be self-sufficient ourselves.”
