NY Yankees And LeBron James Buy Into AC Milan Football Club Ownership

NY Yankees And LeBron James Buy Into AC Milan Football Club Ownership

September 1, 2022

The NBA superstar, LeBron James and his favourite MLB team, the New York Yankees are heading to acquire minority stakes in Italian football club AC Milan. James-backed California bank, Main Street Advisors and the Yankees’ investment arm Yankees Global Enterprises are joining private equity firm, RedBird Capital Partners’ $1.2 billion takeover of the Italian football champions. 

RedBird and Elliott Advisors reached an agreement in June 2022 for Milan to be purchased for $1.2 billion (£1 billion). Elliott is giving Red Bird a vendor loan and is anticipated to hold two board seats.

Redbird Capital, a significant investor in a number of sports ventures, has previously allied with James and the Boston Red Sox, who play against the Yankees. In March 2021, Redbird Capital acquired stakes in James’ entertainment company SpringHill and in Fenway Sports Group, the owner of the Red Sox, Liverpool F.C. of the Premier League, and the Pittsburgh Penguins of the NHL.

LeBron partnered with Fenway Sports Group in 2011, which owns the Boston Red Fox, Liverpool FC, and half of Roush Fenway Racing. As a part of this deal, LeBron now owns a 2% stake in Liverpool Football Club as well. 

Bhavya Das

My eagerness, interest and inclination towards sports has continuously been forging and fortifying my personality as a writer. My sincerity to it is strengthened by the strong foundations of my musical attribute.

Leave a Reply

Your email address will not be published.

Previous Story

Asia Cup 2022: Match 5, BAN vs SRI match predictions – who will qualify for the super four stages?

Biggest 2022 summer transfer window moves so far Premier League edition
Next Story

Biggest 2022 summer transfer window moves so far: Premier League edition

Latest from Football News

Go toTop