By Johnny Askounis/ info@eurohoops.net
Gerry Cardinale, the founder and managing partner of RedBird Capital Partners, is positioned at the center of discussions regarding a shift in European basketball. Speaking during a turbulent period for AC Milan, the RedBird chairman addressed the concept of a structural collaboration between North American and European basketball interests, a venture widely referred to as NBA Europe.
In a recent interview with La Gazzetta dello Sport, 59-year-old Cardinale outlined his perspective on the growing competitive relevance of European talent and the commercial opportunities that remain untapped.
“The days of the Dream Team with Michael Jordan, Magic Johnson, and Larry Bird are long gone,” he observed, emphasizing that ‘many of the most recent NBA MVPs have come from Europe’, and concluding that ‘Europe has truly become a powerhouse when it comes to basketball’.
Cardinale offered a sharp critique of the current club system, specifically targeting the commercial performance of the region’s top-tier continental competition. “The EuroLeague has been around for 26 years, and most of the teams aren’t profitable. It’s not sustainable,” he stated firmly.
While this is a valid point, it should be noted that it holds for most European sports. According to recent reports, 12 out of the 20 Serie A clubs in Italy lose money, and the number is 16 out of 20 clubs in the UK’s Premier League.
Still, the RedBird executive believes that premier football clubs are uniquely positioned to act as commercial engines for basketball infrastructure. “I think it’s up to European football clubs to partner with the NBA. And that’s what I want to do in Milan,” he confirmed, connecting the expansion project directly back to his core Italian asset.
The final strategic objective is a highly profitable commercial ecosystem that elevates localized assets into global entities.
“The goal is to continue to elevate the AC Milan brand, offer opportunities to the fans, and continue to improve our financial profile,” he explained. “It’s all part of an ecosystem where everyone should benefit from each other.”