Yankees secure US$2.6bn Apollo financing

Yankee Global Enterprises has agreed a US$2.6 billion financing package with affiliates of Apollo Sports Capital, combining credit and equity to support growth and refinance existing debt.

The agreement does not transfer control of the New York Yankees. The Steinbrenner family will remain in full control, with Hal Steinbrenner continuing as managing general partner and the club’s Major League Baseball control person.

Apollo Sports Capital chief executive Al Tylis will join the Yankee Global Enterprises board, which will expand by one seat. The precise split between credit and equity, Apollo’s resulting ownership percentage and the cost of the financing were not disclosed. The parties said the transaction was expected to close imminently.

Yankee Global Enterprises sits above a portfolio extending beyond the baseball club. It holds ownership interests in the YES Network, Legends Hospitality, Major League Soccer’s New York City FC and Italian football club AC Milan. The proceeds can therefore support a wider set of strategic opportunities as well as the refinancing of existing obligations.

Apollo launched Apollo Sports Capital in 2025 as a permanent-capital platform serving sports and live events. The firm described the Yankees agreement as a bespoke capital solution rather than a conventional takeover.

The structure demonstrates how major rights holders can access institutional capital without surrendering operating control. It also brings a specialist sports investor into the boardroom of one of the world’s most valuable teams while leaving the franchise’s existing leadership and MLB governance position unchanged.