Drakes joins hand with LeBron James to invest in AC Milan
Drake, whose real name is Aubrey Drake Graham, is a Canadian rapper and singer who has partnered with NBA star LeBron James to invest in the AC Milan football club.
One of baseball’s best players is reportedly moving on to the gridiron.
The Financial Times reports that Yankee Global Enterprises, the New York team’s parent business, and Main Street Advisors, a Los Angeles financial firm, have joined forces to purchase a minority stake in AC Milan.
LeBron James of the NBA and Drake, aka the 6God, are both Main Street Advisors. Both corporations are reportedly on the verge of finalizing an agreement to buy into the Italian Serie A champion league for somewhat more than $1.2 billion USD.
James and Drake would become inactive club owners if their purchase is authorized. The Yankees have partnered with private equity firm RedBird Capital to complete the deal.
RedBird has amassed a sizeable sports ownership portfolio because to their investments in Fenway Sports Group (which owns English Premier League team Liverpool) and the purchase of AC Milan from Elliot Advisors.
James, who only recently (2021) bought into the Boston Red Sox, increases his portfolio of sports franchise ownership with this investment. James joined Fenway Sports Group and now holds ownership interests in the Pittsburgh Penguins and Liverpool Football Club.
As a result of the agreement with AC Milan, Drake and James will be working together for the second time in less than a year. The pair made an investment in StatusPRO, a sports technology business, in November. By 2027, StatusPRO is expected to be worth $57 billion.