It appears that one of baseball’s most elite is getting into the world of football. The Financial Times recently reported that Yankee Global Enterprises, which is the New York team’s parent company, has partnered with Los Angeles-based investment firm Main Street Advisors to go in as minority investors in Italian football club, AC Milan.
Main Street Advisors includes NBA star, LeBron James and the 6God himself, Drake. Together, both companies are reportedly closing in on a deal to purchase shares of the reigning Serie A champion league for just a little over $1.2 billion USD. If this deal goes through, this would make James and Drake passive owners of the club. The Yankees have also partnered with private equity group RedBird Capital to secure the deal.
RedBird has quite the portfolio when it comes to sports ownership, with their stake in Fenway Sports Group, which is also the owner of English Premier League club Liverpool as well as acquiring AC Milan from Elliot Advisors. The deal sees James expand his sports team ownership portfolio as he only recently purchased a stake in the Boston Red Sox back in 2021. James also has ownership stakes in the Pittsburgh Penguins and Liverpool Football Club through joining Fenway Sports Group.
The deal with AC Milan will see Drake and James team up for the second time in the past year. Just last November, the duo invested in a sports technology company, StatusPRO, projected to be worth $57 billion USD by 2027.
In other LeBron news, King James talks about the possibility of playing with both sons in the NBA.
Tagged: business, Sports