The new owner of Milan: The ancient Italian club deserves its own stadium

Jerry Cardinale, founder of the American investment group Redbird Capital Partners, said that the ancient Italian club, Serie A champion AC Milan, deserves to have its own world-class stadium befitting its global standing.

Red Bird is an investor in Fenway Sports Group, which owns English Premier League club Liverpool and Major League Baseball's Boston Red Sox.

Earlier this month, Red Bird agreed to a 1.2 billion euro ($1.26 billion) deal to buy AC Milan.

And the British Financial Times quoted Cardinale as saying, "A name of this caliber like Milan deserves an infrastructure worthy of its footballing standing and its status at the international level."

"We have a lot of experience in stadium projects in the United States... Milan and Italy deserve a world-class stadium," Cardinale added. "


Last December, Milan coach Paolo Maldini called for the city's teams, AC Milan and Inter Milan, to move from the 95-year-old San Siro, which they play together." It is currently in place in order to allow the two clubs to achieve success in the future.

In general, the football infrastructure in Italy needs to be developed and renovated, while some stadiums have not seen any development since the 1990 World Cup, the last major tournament hosted by the country alone.

Milan won the Italian Serie A title for the 19th time in its history in the last round of the season last May, its first title in 11 years.

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