RedBird launches Milan sports holding company, names Brett Yormark CEO

Milan-based investment firm RedBird Capital Partners has established a new holding company, Milan Sports & Entertainment (MSE), as it seeks to consolidate its investments in sports, infrastructure, and live events within the Italian city. Former head of the Brooklyn Nets parent company, Brett Yormark, has been appointed as the chief executive of the newly formed MSE.

The holding company aims to centralize the management of its assets and coordinate partnerships across various ventures. A key focus for MSE is the development of a new 71,500-seat stadium to replace the aging San Siro, which is being built by AC Milan and its rival, Inter Milan, owned by Oaktree. Additionally, MSE plans to create a venue-management business for stadiums and arenas, covering aspects such as food and beverage operations, merchandising, and premium hospitality.

The holding will also explore potential acquisitions, including a Milan franchise in the proposed NBA Europe league, and a sports and live entertainment venue in San Donato Milanese, located on the outskirts of the city. Furthermore, MSE will assess opportunities to elevate Milan's profile in international tennis.