Yankees receive $2.6 billion in deal with private equity fund
The New York Times • • sports
Key Points:
- The New York Yankees secured a $2.6 billion investment from Apollo Sports Capital, an arm of Apollo Global Management, combining debt and equity to refinance existing debt and fund new ventures.
- Despite the deal, the Steinbrenner family retains full control of the Yankees, with Hal Steinbrenner continuing as managing general partner.
- MLB rules cap private equity ownership in a team at 15%, and the exact equity portion of Apollo's investment remains unclear due to the complex deal structure involving debt and other assets.
- Yankee Global Enterprises, the parent company, includes assets beyond the baseball team such as the YES Network, Legends Hospitality, and stakes in AC Milan and New York City FC.
- Apollo, managing nearly $1 trillion in assets, has experience in sports ownership, becoming the majority stakeholder in Atlético Madrid in 2025.
