The announcement of Cardinale’s sensational RedBird agreement with the baseball franchise and the star fund should arrive tomorrow
According to Financial Times the New York Yankees baseball franchise and a Los Angeles-based investment fund are investing in AC Milan together with US private equity group RedBird, which is nearing the acquisition of the € 1.2 billion club. The Yankees are owned by the Steinbrenner family, and by Main Street Advisors, the Los Angeles-based fund that has basketball star LeBron James, famous music producer Jimmy Iovine and rapper Drake among its investors. Financial Times will become shareholders of the Serie A team. RedBird will announce the entry of its new partners as early as tomorrow, when it is expected to officially take control of the club from its current owner, the US hedge fund Elliott Management.
Who I am
–
Cardinale worked with the New York Yankees for decades, including during his years at Goldman Sachs, and was an early investor in the birth of the team’s regional sports channel, YES Network. According to the Financial Times, Milan’s broadcast on the channel could also enter the agreement.
ARTICLE UNDER UPDATE
August 30 – 08:29
© REPRODUCTION RESERVED
