Yankees president joins AC Milan's board of directors
New York Yankees president Randy Levine will join AC Milan’s board of directors.
The 67-year-old former attorney has been one of the leading figures of the Bronx Bombers for two decades. An official announcement on the aforementioned move was revealed on Saturday.
“The club is delighted to welcome Randy Levine to the Board of Directors. Randy is a leading professional in sports and entertainment,” said Milan chairman Paolo Scaroni.
“His experience and expertise will integrate with ours, contributing to the growth path of the club and creating opportunities to expand its global appeal. The appointment of Randy will help us develop new synergies at a global level, in line with RedBird’s strategic vision, opening new horizons for the Club and its fans.”
Yankees partnered with RedBird to purchase Milan
RedBird Capital Partners purchased the Italian team, with help from the Yankees, in the summer of 2022 for around $1.3 billion. As part of the agreement, Elliott Management Cooperation would also hold on to a minority stake of the club. The latter group previously owned Milan before the sale.
Oddly enough, United States-based RedBird also has ties to the Boston Red Sox. Founder Gerald Cardinale is currently a shareholder in Fenway Sports, the group that owns the Red Sox and Liverpool. The two baseball teams have an intense history of being bitter rivals. Nevertheless, RedBird is headquartered in New York and been partners with the Yankees since the summer sale.
Yankees/Milan alliance continues
Levine was also instrumental in the creation of the YES Network. The television station is the home of live Yankees games throughout the baseball season.
It was announced in the fall that the network will air replays of Milan matches. There is also Milan team merchandise available for purchase inside Yankee Stadium.
AC Milan’s board now consists of a mixture of executives with historic ties to the Italian club, as well as RedBird partners. Gordon Singer, Elliott Management’s equity partner, remains the company’s sole member of the club’s board.
Photo credit: IMAGO / LaPresse