Yankees, LA Fund Invest in AC Milan Soccer Team

New York Yankees and Los Angeles-based Fund that Includes LeBron James

Redbird Capital Partners - Invest in AC Milan

Joe close to a deal to purchase the Italian football champions at 1.2 billion Euros.

Milan, seven-time European champions, have won their first title in Italy in 11 years.

The Yankees have already been involved in Major League Soccer with Manchester City FC FC.

James Drake and James will be passive investors in Milan via the fund, but have not taken a direct share.

Redbird to be Milan's fourth owner within five years.

This could bring the club around 100 million euros (or $100 million) in UEFA prize money.

This could bring the club around 100 million euros (or $100 million) in UEFA prize money.