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Soccer-Red Bird teams up with Yankees owners to complete AC Milan deal

Reuters
Updated ·1 min read

MILAN, Aug 31 (Reuters) - U.S. investment firm RedBird Capital has teamed up with the owners of the New York Yankees to complete the 1.2 billion euro ($1.20 billion) acquisition of Italian soccer champions AC Milan, it said in a statement on Wednesday.

Yankee Global Enterprises (YGE), owner of the New York baseball team, will take a minority equity stake in Italian champions Milan as part of the deal to acquire the club from U.S. private equity group Elliott.

($1 = 0.9992 euros) (Reporting by Elvira Pollina, Writing by Keith Weir; Editing by Agnieszka Flak)