On the latest Sporticast episode, hosts Scott Soshnick and Eben Novy-Williams discuss some of the biggest sports business stories of the week, including the New York Yankees investing in Italian soccer giant AC Milan.
One of the most valuable sports franchises in the world, the Yankees are no stranger to outside business opportunities. The team’s investments include Legends, NYCFC, Clear and the Pinstripe Bowl, and it previously owned the NBA’s Nets and a chunk of the NHL’s Devils. The tie-up with AC Milan, part of RedBird Capital’s $1.3 billion acquisition, will give the MLB team an opportunity to dip a toe into European soccer, while lending expertise on things such as stadium construction and marketing.
The hosts also talk about Serena Williams, who says she is wrapping up her pro tennis career at the U.S. Open, which started on Monday. Williams, who has made more than $450 million in tennis,says she wants to spend more time with her family and focus on her venture capital business. Her investments include Tonal, Noom, MasterClass and Impossible Foods; additionally, she’s a minority owner of the Miami Dolphins.