New York Yankees join Boston Red Sox stakeholders RedBird Capital in AC Milan takeover

Aug 31, 2022 287

BY: Roger Gonzalez

The New York Yankees and Boston Red Sox may be the most storied rivals in Major League Baseball rivals, but when it comes to soccer they could soon be working together. Well, sort of. Yankees are planning to join RedBird Capital in the takeover of Italian soccer champions AC Milan, according to the Financial Times. RedBird also own a stake in Fenway Sports Group, which owns the Sox as well as Premier League team Liverpool. 

Yankee Global Enterprises, along with a Los Angeles-based investment fund called Main Street Advisors, are working with the founder of RedBird Capital to complete the takeover of the legendary soccer club. RedBird agreed to a deal worth €1.2 billion in June to by Milan from Elliott Advisors. If you follow the bouncing ball through all of the corporate structures what you end up with is a group that owns a stake in the Red Sox, working with the ownership of the Yankees to buy AC Milan together.

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SOURCE: https://www.cbssports.com

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