Drake and LeBron James Team Up To Invest in AC Milan

Drake and LeBron James are among a group of investors looking to purchase Italian football club, A.C. Milan.

The Financial Times reports that Yankee Global Enterprises has partnered with Los Angeles-based investment firm Main Street Advisors to go in as minority investors in AC Milan.

Private equity group RedBird Capital who own a stake in Fenway Sports Group, the owners of Premier League club Liverpool, also partnered with YGE to secure the deal.

Main street investors include Los Angeles Lakers superstar LeBron James, as well as music producer Jimmy Iovine and rapper Drake who will all become passive owners in the Serie A team, once the $1.2B acquisition is complete.

A formal announcement for the deal is expected as early as Wednesday (August 31) when the new investment group will takeover from ex-owner U.S. hedge fund Elliott Management.