Milan Circle
According to relevant reports from the Financial Times, RedBird Capital completed a 1.2 billion euro acquisition of AC Milan, giving the American investment group control of the Serie A championship team.
For this reason, founder Gerry Cardinale has invited some long-term partners as minor shareholders, the New York Yankees and a Los Angeles-based investment fund invested by LeBron James and rapper Drake.
The close relationship between Grie Cardinale and Steinbrenner's family prompted the Yankees to decide to acquire a minority stake in AC Milan, according to people familiar with the matter.
But the New York side's view is that Milan is still the smaller side in the market compared to Yankees, so they can benefit from the brand halo. In New York, the Yankees remain one of the most valuable clubs in sports (Forbes estimated at $6 billion).
A person familiar with the matter said bluntly: "In fact, in the United States, not many people are really familiar with Milan." So although the Yankees are only relative partners, they plan to help further promote and commercially develop AC Milan by broadcasting the game and inviting the Ross and Blacks ball to play friendly matches at home in New York.
Meanwhile, Grie Cardinale and Redbird are still looking for partners to help repay the 600 million euro loan from Elliott Management to acquire AC Milan.
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