National Basketball Association (NBA) superstar Lebron James is among a consortium of American investors who bought Italian football club AC Milan on Wednesday, August 31, 2022.
According to the Financial Times, Lebron and popular Canadian rapper Drake will be among the shareholders in the club.
"The baseball team, owned by the Steinbrenner family, and Main Street Advisors, the LA-based fund that counts among its investors basketball star LeBron James, famed music producer Jimmy Iovine and rapper Drake, will become shareholders in the Serie A team," read the report.
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The British online publication further stated that the Serie A club is expected to cost a whopping €1.2bn (approximately Ksh144.7 billion).
"The New York Yankees baseball franchise and a Los Angeles investment fund are investing in AC Milan alongside US private equity group RedBird, which is closing in on the €1.2bn acquisition of Italy’s football champions, two people with direct knowledge of the matter said," added the article.
RedBird founder Gerry Cardinale had announced two months ago that they had reached an agreement with Elliott Management, an American-based company that owns AC Milan and the deal is expected to be finalized by October.
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AC Milan is the second most successful club in European football having won the UEFA Champions League seven times, behind only Real Madrid (14). The Rossoneri are the reigning Italian champions.
Lebron currently plays for Los Angeles Lakers and is considered one of the greatest basketball players ever.
The 37-year-old boasts of 4 NBA titles and 4 NBA player of the year awards. He has also been named in the NBA All-star squad for a record 18 times.
James started his career at Cleveland Cavaliers in 2003 before signing for Miami Heats in 2010.
The powerful forward spent four years at the Miami Heats before ditching them for the LA Lakers where he won his latest NBA title in 2020.
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