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