Milan will remain stars and drink. The operation that should perform, except for new twists, the Rossoneri club from Elliott to the Americans RedBird Capital Partners, in a €1.3 billion deal. But who is Jerry Cardinale, the banker at the head of the American company that is preparing to buy the devil?
Life at Goldman Sachs – Cardinale is now a very important name in the world of sports, especially if you consider the operations that have been carried out in the past two years: in 2020, RedBird acquired Toulouse and in 2021 it acquired a small share of rum raisinsbut mostly entered Fenway Sports Groupthe conglomerate that controls Liverpool Which Boston Red Sox750 million euros, or 10%. The world of business has always been Jerry’s scholar who, after graduating from Harvard University with a magna cum laude and a master’s degree from Oxford, has led, 20+ years working at Goldman Sachs, one of the most important US investment banks in the world. During his time at Goldman Sachs, Cardinale was a corporate partner and principal leader of the investment bank’s private equity investment business, managing more than $100 billion in private capital across equity, debt, investment strategies, real estate and infrastructure. In addition, he served on the Investment Committee of Goldman Bank and the Bank’s American Partnership Committee. During the same period, he worked with entrepreneurs and built several successful multi-billion dollar companies, including 2001 Yankees Entertainment & Sports Network (“YES”), the #1 US regional sports network (sold to Murdoch for $4 billion, then reacquired in 2019); in 2008 Legends Hospitalitya ticketing, franchising, and merchandising services company created in association with the New York Yankees and the Dallas Cowboys; Suddenlink CommunicationsOne of the largest US cable companies at the time of its acquisition by Altice.
red bird – In 2014, RedBird . was founded And Cardinale’s decision to take a strong turn in the world of sports, whose assets are estimated at more than one billion dollars. Over the past five years, RedBird has invested in more than 20 sports activities, building on Gerry’s expertise in fostering the development of the interconnectedness between sports and leisure through targeted partnerships: one with Dwayne Johnson To buy XFL (Alternate American Football League); one with LeBron James to grow spring Hill (a production and marketing company founded by basketball player Maverick Carter); cooperate with NFL To run the Super Bowl ticket and travel package business (the business tripled and was sold to Endeavor in 2020 for $660 million). Investments that then also extend to Skydance MediaAnd Compass data center And Wasserman Media Group. All in the name of value creation in companies, including investment management and other aspects, with the philosophy underpinning Cardinale’s business: great collaboration with the founders and entrepreneurs behind his investments. The same philosophy is now being followed by RedBird, which has $6 billion in assets under management that will soon rise to 11, which he now wants to bring to Milan.
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