Drake and NBA superstar LeBron James are among a group of investors looking to purchase Italian soccer team A.C. Milan.
According to theFinancial Times, a deal for the prized Serie A team is expected to be completed shortly for approximately $1.2 billion alongside U.S. private equity group RedBird.
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The New York Yankees franchise and Main Street Advisors, a Los Angeles-based investment fund comprised of LeBron, Drizzy and legendary music executive Jimmy Iovine are partnering to complete the transaction.
Drake is expected to be a passive investor in A.C. Milan as are the rest of his high-profile teammates in on the deal.
A formal announcement for the deal is expected as early as Wednesday (August 31) when the new investment group will seize power from ex-owner U.S. hedge fund Elliott Management.
Drake has a diverse investment portfolio but hasn’t delved much into the sports world outside of being an official Global Ambassador for the Toronto Raptors.
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In the past, he’s poured money into sports media company Overtime, tech company Wealthsimple, crypto firm Moonpay and plant-based chicken company Daring Foods Inc.
King James is no stranger to investing in sports teams. He currently has stakes in the Boston Red Sox, Pittsburgh Penguins and Liverpool FC.
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A.C. Milan currently sit in third place in Italy’s Serie A with eight points following the team’s 0-0 draw against Sassuolo on Tuesday (August 30). The Rossoneri were crowned Serie A champions last season, their first league title since 2011.
As for everything else in Drake’s world, the OVO boss made a pair of appearances on DJ Khaled’s GOD DID album with “Staying Alive” and “No Secret.”
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His OVO clothing brand recently unleashed a Hot Boys capsule saluting Lil Wayne’s New Orleans-bred ’90s group.
Hot Boys released their second studio album Guerrilla Warfare in July 1999 and its blazing yet menacing cover art is a major part of the OVO capsule as it’s plastered onto an array of t-shirts, shorts and hoodies with fall fast approaching.
