NEW YORK—Baseball’s elite are getting involved with one of Europe’s most celebrated soccer clubs.
The New York Yankees are becoming a minority investor in Italian champion AC Milan, the second soccer team the baseball power will partially own after MLS’s New York City.
A Los Angeles-based fund that includes LeBron James also is becoming a minority investor in the seven-time European champion under RedBird Capital Partners, The Financial Times reported Tuesday.
RedBird is nearing a deal to purchase a controlling interest in Milan for 1.2 billion euros ($1.2 billion).
Gerry Cardinale, who founded RedBird in 2014 and is a managing partner, announced a preliminary agreement in June to buy Milan from fellow American firm Elliott Management….