AC Milan President, Paolo Scaroni shared his thoughts on the club’s recent change in ownership and its impact on the future of the club’s sporting and economic results. Speaking at the recent M&A Summit event, Scaroni discussed how the new owners, RedBird Capital, differ from previous owners Elliott Management. The former owner acquired AC Milan because they had loaned money to the old shareholder, rather than pursuing to purchase the club. Elliott then entrusted professionals with bringing Milan back to an economic and sporting balance. However, they sold Milan to a fund with different objectives when their objectives were achieved.
Scaroni emphasized the importance of balancing sporting and economic results in football as they are connected to each other. He credited professionals for restoring AC Milan and said that the contribution of every staff member deserves recognition for the success on the field. Despite this, he believes that financial success is necessary for sporting ambitions.
Scaroni also shared his thoughts on television rights and said that it would be ideal for clubs to manage their own customers instead of selling rights. This would allow them to generate more revenue by having a direct relationship with their supporters. However, the governance of Lega Calcio (the Italian Football League) is complicated and requires intervention to simplify management.
The AC Milan president also talked about difficulties associated with building new stadiums or renovating San Siro. He believes that it is necessary to create an attractive stadium that can attract audiences and generate revenue for clubs. Furthermore, Scaroni highlighted the need for an emergency law to overcome obstacles associated with building stadiums.
Scaroni refrained from offering predictions for the quarterfinals of the Champions League against Napoli but expressed excitement about attending the match in person. He also praised Napoli’s President, Aurelio De Laurentiis, for his success in creating value with the team.
Scaroni expressed optimism for the future of AC Milan under new owners, RedBird Capital. RedBird has acquired 99.93% of the Rossonero and is a fund with different objectives. Scaroni believes that a whole series of professionals could help drive success at AC Milan under new ownership.
Under former ownership, AC Milan generated less than €200 million revenue while with Elliott; however, they have generated €350 million this year. Elliott reportedly came out satisfied after making a typical profit off their investment and sold Milan to RedBird Capital.
In conclusion, the change in ownership marked a significant one for AC Milan, as it demonstrates how finances and sporting results are interlinked in football. With new owners like RedBird Capital backing AC Milan, Scaroni is optimistic that Milan can achieve great success in the future.
Image Source: Wikimedia Commons
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