New York Yankees , Buy Minority Stake in AC Milan.br New York Yankees , Buy Minority Stake in AC Milan.br ESPN reports that AC Milan made br the announcement on Aug. 31.br Private investment firm br RedBird Capital Partners completed the br $1.2 billion deal that includes the Yankees.br Private investment firm br RedBird Capital Partners completed the br $1.2 billion deal that includes the Yankees.br ESPN reports that the Yankees also own a minority stake in New York City FC.br ESPN reports that the Yankees also own a minority stake in New York City FC.br RedBird founder Gerry Cardinale announced the preliminary agreement to purchase Milan from Elliott Management in June.br 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, Gerry Cardinale, via statement.br 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, Gerry Cardinale, via statement.br ESPN reports Cardinale will take br the helm as Milan's new president at the br game against Inter Milan on Sept. 3.br Our vision for Milan is clear: we will support our talented players, coaches and staff to deliver success on the pitch and allow our fans to share in the extraordinary experiences of this historic club, Gerry Cardinale, via statement.