Milan, June 11 (BNA) Jerry Cardinale, founder of the American investment company Redbird Capital Partners, said that AC Milan deserves to set up a world-class stadium that demonstrates its global potential.
Reuters reported that Redbird, who are investors in Fenway Sports Group, owners of Liverpool FC and the Boston Red Sox baseball team, agreed a 1.2 billion euro ($1.26 billion) deal to buy Milan earlier this month.
Milan coach Paolo Maldini said in December that the club’s proposed move with San Siro renter Inter Milan from the 95-year-old stadium was necessary to ensure the future success of both clubs.
Italy’s heritage authority has given the green light to a proposal to demolish Milan’s 1920s-era San Siro in 2020, after teams submitted a request to build a new 60,000-seater stadium.
“A brand of this size, like AC Milan, must have an infrastructure that demonstrates the prowess of football and its global potential,” Cardinale told the Financial Times.
“We have a lot of experience with stadium projects in the United States. Milan and Italy deserve a world-class stadium featuring the best of sports and entertainment on a global scale.”
Italy’s football infrastructure as a whole needs renovations and some Italian stadiums have not been modernized since the 1990 World Cup, the last major football tournament hosted by Italy alone.
Milan snatched their 19th Serie A title on the final day of the season in May – their first Serie A title in 11 years.
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