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AP-National-Sports

NY Yankees buy minority stake in AC Milan soccer club

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Published 7:16 AM

By ANDREW DAMPF
AP Sports Writer

ROME (AP) — The New York Yankees have purchased a minority stake in Italian soccer champion AC Milan, which announced the closing of its latest ownership change. RedBird Capital Partners completed the deal to purchase a controlling interest in the seven-time European champion for 1.2 billion euros ($1.2 billion). It’s the second soccer team the Yankees will partially own after MLS’s New York City. RedBird founder and managing partner Gerry Cardinale says his firm is “very pleased to continue our partnership with (the Yankees) and will look to explore opportunities together to broaden our fan reach and expand commercial opportunities.”

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