As part of AC Milan’s takeover by RedBird Capital Partners, the New York Yankees will acquire a minority stake in the club, it has been confirmed.
The €1.2bn takeover was fully completed today, and the official website confirmed that the deal will also see Yankee Global Enterprises (YGE) – owner of the New York Yankees of Major League Baseball – enter into a strategic partnership with the club with a minority equity stake.
Yankee Global Enterprises, LLC (formerly YankeeNets, LLC), is an American limited liability company which owns the New York Yankees along with the broadcast company YES Network and a 20% stake in New York City FC soccer team. It was formed in 1999 and is controlled by the family of George Steinbrenner.
RedBird knows the Yankees and the Steinbrenner family well having been in a partnership for years. In fact, Gerry Cardinale’s fund are co-owner of the Yankees Entertainment Sports (YES) Network, which is the most-watched regional sports network in the United States.
On the partnership with YGE, Cardinale insisted that the relationship with the Yankees and with YES can open more avenues to greater increase the exposure of the club’s brand in Italy.
“We have a multi-decade relationship with the New York Yankees and the Steinbrenner family that has resulted in the creation of some of the most successful businesses in sports, entertainment and hospitality,” he said.
“We are very pleased to continue our partnership with them and will look to explore opportunities together to broaden our fan reach and expand commercial opportunities that are only available to franchises that operate at the highest levels of sports globally.”
Did I ever tell you what the definition of insanity is? Insanity is doing the exact… same f***ing thing… over and over again expecting… sh*t to change… That. Is. Crazy.
commercial opportunities doesn’t come with the way the ownership running our milan ,
we got lucky with some of the unproven players we bring in for cheep doesn’t mean the results are sustainable .
commercial opportunities only come with world class players with huge followers like real madrid and the galacticos
or chelsea and manchester united or manchester city or psg or any f$cking other big clubs ,
not with salary cap and we can’t even keep our best players at the club
barcelona with all their money problem they still bring world class players at all cost even having the best youth academy because they know the alternative is loosing their world fan base and loosing sponsorship deals because of the loss of interested in the brand ,
milan is the second best club in the world every football fans respect milan and we can’t keep our best players because we don’t want to pay salary like every other club in the world is ridiculous ,
kessie was one of our best player at milan now he is barcelona backup that tell you the level that we are at ,
Maybe you should buy Milan since you know everything about running successful clubs. 🙂
can you loan me 1.2 billion on interest rate of 10 %