Skip to main content

Yankees Reportedly Purchase Minor Stake In Major Soccer Team

SAN FRANCISCO, CALIFORNIA - APRIL 26: A detailed view of a New York Yankees batting helmet prior to the game against the San Francisco Giants at Oracle Park on April 26, 2019 in San Francisco, California. (Photo by Daniel Shirey/Getty Images)

SAN FRANCISCO, CALIFORNIA - APRIL 26: A detailed view of a New York Yankees batting helmet prior to the game against the San Francisco Giants at Oracle Park on April 26, 2019 in San Francisco, California. (Photo by Daniel Shirey/Getty Images)

The New York Yankees are no strangers to professional soccer, owning a large portion of the Major League Soccer franchise New York City FC. But the iconic baseball club appears to be adding an equally iconic soccer club to its portfolio.

On Wednesday, the Yankees acquired a minority ownership stake in Italian soccer powerhouse A.C. Milan. The Yankees' owners, the Steinbrenner family, bought a minority share in RedBird Capital Partners' $1.2 billion acquisition of the club.

"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," RedBird Capital founder and managing member Gerry Cardinale said in a statement.

"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."

A.C. Milan may not mean much to the average American sports fan, let alone the average baseball fan, but in Europe and especially Italy, they're among the greatest franchises in the world. 

Founded in 1899, A.C. Milan is one of the most successful clubs in soccer history. They boast 19 Serie A titles, five Coppa Italia trophies and seven Supercoppa Italiana trophies.

At the continental level, no Italian club has been more successful with seven Champions League titles, five Europa League titles and a FIFA Club World Cup win in 2007. 

It's a big get for the Yankees to say the least. Perhaps A.C. Milan will start making more exhibition appearances at Yankee Stadium in the years to come.