Tuesday, November 29, 2022

An investment fund with LeBron James and Drake buys Milan for 1,200 million

RedBird Capital Partners, along with owners of the New York Yankees, acquire the current Series A champions after years of economic losses.

Lebron James Bought Ac Milan With An Investment Group For 1,200 Million Euros.  Duty

Defending Serie A champions AC Milan announced on Wednesday that investment fund Redbird Capital Partners is its new owner after paying €1,200 million. club red black It had accumulated years of financial difficulties and its previous owner, American Paul Elliott, had been looking for a buyer for some time. After weeks of negotiations, the company in which Lakers player LeBron James and rapper Drake are shareholders has closed the acquisition of the club for a figure that equals almost six times AC Milan’s earnings, closer to 216. Million as per the latest report football money league,

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In addition to the investment fund, the New York Yankees will also have a minority stake in the Italian team.

The company Yankee Global Enterprises, owner of the United States baseball team valued at around €5,000 million, has been involved with the Redbird Fund for years and plans to combine the capabilities of the two teams together.

In a statement published for Milan, Redbird’s founder and director Gerry Cardinale said: “We will seek to explore opportunities together to expand our reach and expand business opportunities that only exist at the highest level of sports globally.” Available to franchisees working on

The Cardinals have $7.5 billion in other sports investments through Redbird. 85% of the fund is owned by Toulouse, the Ligue 1 team that achieved promotion last season, as well as 10% of Fenway Sports Group, another investment fund that has assets in Liverpool, as well as teams in Boston Red Sox baseball and Pittsburgh. is also. Penguin Ice Hockey. According to the Italian press, Cardinale made an offer of close to EUR 1,000 million three months ago, but then an offer from the Bahrain Investment Fund surfaced and the Americans decided to increase the bid. Serie A currently consists of five clubs owned by American companies: Milan, Roma, Fiorentina, Atalanta and Spezia.

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