“That’s why we invest in Milan”

Also New York Yankees have decided to be shareholders of RedBird Capital in the acquisition of Milan, whose closing is expected in September. An investment – writes the specialized magazine Forbes – which deepens the relations between the parties since at the time of Goldman Sachs, Cardinale contributed to the creation of YES Network (a regional sports network owned by a consortium formed by Yankees, Amazon, RedBird and Sinclair Broadcast Group), di Legends Hospitality and the financing of the Yankee Stadium.

RedBird is also an investor in YES, while the Steinbrenner family, owners of the Yankees and YES, are also an investor in RedBird. “We have a very long and successful relationship with RedBird and believe we can help grow AC Milan’s brand and commercial presence.“, he has declared Randy Levine answering a question about the reason for the investment in the Rossoneri club.

Projects include some friendlies at Yankee Stadium and the display of AC Milan-related content on YES. Levine said he was also attracted by the purchase price of Milan (a deal worth 1.2 billion euros) and the team’s business model. “I believe in what they are doing“, he added.

According to rumors, the investment of Yankee Global Enterprises, the parent company of the baseball team, will have a stake of about 10% of AC Milan. In January, YGE was rated by Forbes as the sixth most valuable sports empire in the world, with a value of 6 billion dollars. YGE, controlled by the Steinbrenner family, owns 100% of the Yankees and over 25% of YES. Other investments include hospitality company Legends, MLS NYCFC and minor league baseball teams.