Soccer-Red Bird teams up with Yankees owners to complete AC Milan deal

U.S. investment firm RedBird Capital has teamed up with the owners of the New York Yankees to complete the 1.2 billion euro ($1.20 billion) acquisition of Italian soccer champions AC Milan, it said in a statement on Wednesday.

Yankee Global Enterprises (YGE), owner of the New York baseball team, will take a minority equity stake in Italian champions Milan as part of the deal to acquire the club from U.S. private equity group Elliott.

($1 = 0.9992 euros)