According to the Financial Times, Yankee Global Enterprises, the parent company of the New York team, has partnered with Los Angeles-based investment firm Main Street Advisors to become minority shareholders in Italian football club AC Milan.
LeBron James and Drake are among the Main Street Advisors group. Both firms are apparently nearing an agreement to buy shares of the reigning Serie A champion league for slightly over $1.2 billion USD. If the sale goes through, James and Drake will become passive owners of the club. To seal the agreement, the Yankees have also collaborated with private equity firm RedBird Capital.
This deal will be Drake and James second collaboration this year. Just last November, the duo invested in StatusPRO, a sports technology company expected to be worth $57 billion USD by 2027.
