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AP National Business

Yankees, LeBron James to invest in AC Milan soccer team

KVIA
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Published 7:40 AM

By RONALD BLUM and ANDREW DAMPF
AP Sports Writers

NEW YORK (AP) — The New York Yankees are becoming a minority investor in Italian champion AC Milan, the second soccer team the baseball power will partially own after MLS’s New York City. A Los Angeles-based fund that includes LeBron James also is becoming a minority investor in the seven-time European champion under RedBird Capital Partners, according to The Financial Times. RedBird is nearing a deal to purchase a controlling interest in the reigning Italian champion for 1.2 billion euros ($1.2 billion). RedBird’s Gerry Cardinale announced a preliminary agreement in June to purchase Milan from fellow American firm Elliott Management.

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