Mar 18, 2026 05:19-04:00

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Inter-Milan derby for NBA Europe: Oaktree overtakes RedBird thanks to "unlimited financial resources"

Has Gerry Cardinale been overtaken by the fund that owns the Nerazzurri club?

Inter v Milan: it’s always a derby. As well as battling it out for the Scudetto on the pitch (with nine matchdays remaining in Serie A, the Nerazzurri lead the table by eight points over the Rossoneri, who have won both head-to-head encounters this season), the two clubs are also competing to establish a team in Milan to play in NBA Europe from 2027 or 2028 following the Los Angeles Olympics.

Il Corriere della Sera reports that Oaktree (owner of Inter) has overtaken Gerry Cardinale’s RedBird, the man in charge at Milan who has already begun talks with the NBA and met with Leo Dell’Orco, Armani’s CEO, to see what room for manoeuvre there might be.

"UNLIMITED FINANCIAL RESOURCES"
Oaktree has carefully examined the NBA’s proposed plan – the so-called ‘business model’ – exploring viable options in collaboration with Olimpia Milano itself, and is reportedly even in a stronger position.
The firm’s leader, Howard Marks, has given the go-ahead for the initial steps: Oaktree’s unlimited financial resources are appreciated by the NBA, which is handling this colossal operation with great care.
Talks with J.P. Morgan, the world’s largest bank overseeing the NBA’s financial entry into Europe, have been successful.
Those between Oaktree and Olimpia Milano’s management have also been constructive: rumours suggest that Oaktree’s approach and demeanour have been well received.
Oaktree is very interested, but has yet to put pen to paper: it needs a few more days, but is reportedly inclined to give an initial ‘yes, let’s talk’. Exactly what the NBA wants.
Oaktree has initiated further talks, not limited solely to Olimpia Milano.

THE DOUBTS
NBA Europe is turning its attention to the big names in football: as well as Inter and Milan, there are also Roma, Real Madrid (who are said to have replied: “No, thank you”), Barcelona, PSG, Newcastle, Manchester City and United.
The concern centres on the entry fee imposed by the NBA: it is not fixed, nor is it the same for everyone, but the average is $500 million.
Then there are other extremely strict conditions: the NBA has set 31 March as the deadline; by that date, teams must confirm their interest and acceptance of their model.
So far, no European basketball team has reportedly accepted NBA Europe’s terms. Olimpia Milano is part of the EuroLeague until 2036.
The NBA has the backing of FIBA (the international federation) and the Italian Basketball Federation, led by Gianni Petrucci: both organisations are keen to give the EuroLeague a run for its money, but it cannot be ruled out that the NBA and the EuroLeague (currently on opposing sides) might sit down together and find common ground.
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