The Yankees buy a minority stake in AC Milan

ROME (AP) – The undefined have bought a minority stake in Italian soccer champions AC Milan, which announced the closing of its latest ownership change on Wednesday.

RedBird Capital Partners completed the deal to buy a controlling interest in the seven-time European champion for 1.2 billion euros ($1.2 billion).

It is the second soccer team the Yankees partially own after New York of the MLS.

Gerry Cardinale, who founded RedBird in 2014 and is managing partner, announced a tentative deal in June to buy Milan from fellow US firm Elliott Management.

Yankees Global Enterprises, the parent company of the baseball team led by the Steinbrenner family, will take about a 10% stake, a person familiar with the negotiations told The Associated Press on Tuesday, speaking on condition of anonymity before the final deal was announced. .

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