LeBron James and Drake join forces to buy AC Milan

AC Milan have recently been purchased by new ownership by the name of Gerry Cardinale, backed by a long list of investors and financial partners.

There are some interesting names on the list of the new Rossoneri investors as reported by the Financial Times but the most eye-catching ones are LeBron James and Drake.

The report reveals how AC Milan's change of ownership began in May 2022 for a few around €1.2 billion and is now set to be completed with American basketball legend LeBron James and Canadian music superstar Drake among the investors.

LeBron James, Drake and the other Milan investors

The New York Yankees baseball franchise and a Los Angeles investment fund are investing in AC Milan alongside US private equity group RedBird, which is closing in on the €1.2 billion acquisition.

LeBron James and Drake are set to be part owners of AC Milan Bleacher Report

The baseball team is owned by the Steinbrenner family, and Main Street Advisors, a Los Angeles-based fund that counts LeBron James and Drake among its investors.

LeBron James already has a long association with Cardinale, considering that RedBird is a shareholder in SpringHill (associated with LeBron) and Fenway Sports Group, which controls Liverpool and the Boston Red Sox.

LeBron James is known for investing in sports and is a part owner of Liverpool Jae C. Hong/AP

RedBird is set to announce the entry of its new partners as early as Wednesday when it is expected to officially take control of the club from its current owner, US hedge fund Elliott Management, those people said.

The completion of the official takeover will see the Italian champions come under new ownership as LeBron James adds another sports team to his investment portfolio