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AP National Sports

AC Milan announces ownership change involving the NY Yankees

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KMIZ

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Published 8:16 AM

By ANDREW DAMPF
AP Sports Writer

ROME (AP) — AC Milan has announced the closing of its latest ownership change and a minority stake for the New York Yankees. RedBird Capital Partners completed the deal to purchase a controlling interest in the seven-time European champion for 1.2 billion euros ($1.2 billion). It’s the second soccer team the Yankees will partially own after MLS’s New York City. RedBird founder and managing partner Gerry Cardinale says his firm is “very pleased to continue our partnership with (the Yankees) and will look to explore opportunities together to broaden our fan reach and expand commercial opportunities.”

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