RedBird Capital Partners, the US sports investment group owned by Gerry Cardinale, has announced the appointment of Brett Yormark, the commissioner of the Big 12 college sports conference, as the new chief executive of its new Milan Sports & Entertainment (MSE) arm.
MSE will bring together RedBird’s investments centered in Milan, Italy, most prominent of which is the iconic soccer side AC Milan, and its San Siro stadium, which is soon to be replaced with a new 71,500-seater stadium.
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Other properties under the MSE banner, while not yet revealed, are likely to include a new NBA Europe basketball franchise, a proposed new mixed-use arena in the San Donato area, and a potential investment in professional tennis competition.
On the establishment of the new MSE business unit, RedBird founder and managing partner Gerry Cardinale said: “Over the last 25 years, we have worked alongside rights holders across sports and media to build disruptive businesses that transformed their industries.
“This evolution is rooted in deep respect for the underlying intellectual property, a long-term partnership with the rights holders and the ambition to maximize the potential of these teams and leagues both on and off the field.
“Milan Sports & Entertainment is the culmination of that work and what we have been building toward since we first invested in AC Milan four years ago. Becoming an owner has given us an even greater appreciation for what creates lasting value: winning, serving the fans and investing in the communities that give these institutions their meaning.”
Yormark, who will take over in January following the conclusion of his Big 12 term, will oversee these efforts, drawing from his considerable experience in the sports space.
The American executive has been commissioner of the Big 12 conference since 2022, overseeing a period of major commercial strengthening at the organization, including a lucrative deal with Monster Energy.
Perhaps most crucial for his new role at MSE, Yormark previously spent close to 15 years as the chief executive of Brooklyn Sports and Entertainment, the parent company of the NBA’s Brooklyn Nets, during which time he oversaw the construction of the team’s new arena in Brooklyn (and subsequent relocation from New Jersey), and the expansion of the organization’s commercial portfolio through events, concerts, sponsorships, and more.
Cardinale continued: “We are now applying that experience on a different scale — not to one club, one sport or one venue, but across an entire city and sporting, lifestyle, and entertainment portfolio. I have known and worked with Brett Yormark for 25 years and could not think of a better executive in sports globally to help execute this strategy.
“In Brett, we can bring the best of American sports and live entertainment to Milan as we continue to build this next chapter in Milan’s ascendance. Anchored by AC Milan, which will always be the pace car for our efforts, we intend to build a world-class sports and entertainment platform that will shape the future of Milan and European sport and return it to the top of the global stage.”
Yormark himself added: “Throughout my career, I have helped sports organizations evolve, expand their reach and create new opportunities, and I look forward to drawing on that experience to execute RedBird’s vision for MSE.”
