Milan Sale Closed With New York Yankees Involved | kurier.at

The US investor RedBird Capital Partners has completed the purchase of the traditional Italian football club AC Milan and also brought the New York Yankees on board. Yankee Global Enterprises (YGE), which owns the world’s best-known and most successful baseball club, has become a minority shareholder in Salzburg’s Champions League opening opponent, RedBird announced on Wednesday.

The financial company of founder and CEO Gerry Cardinale had already agreed on a deal with Milan’s previous owner, the US fund Elliott Management, in the spring for a purchase price of around 1.2 billion euros. RedBird is the fourth owner of what was once Europe’s best club in the past five years, following media mogul and former Italian Prime Minister Silvio Berlusconi and Chinese entrepreneur Li Yonghong.

Cardinale wants to keep the current Italian champions and seven-time Champions League and Champions Cup winners “at the top of European and world football,” he said. According to media reports, RedBird also convinced the US fund Main Street Advidors, which includes basketball star LeBron James and rapper Drake among its investors, of investing in the Italian club.