Yankee Global Enterprises, the holding company that owns the New York Yankees, announced a $2.6 billion financing agreement on Tuesday with affiliates of Apollo Sports Capital, a permanent capital platform of Apollo Global Management. The package is a mix of credit and equity. Proceeds will support continued growth of the Yankees franchise and refinance existing debt. The transaction is expected to close imminently.
The Steinbrenner family will retain full control of the Yankees. Hal Steinbrenner remains Chairman of YGE, Managing General Partner of the team, and the club’s MLB Control Person. Apollo Sports Capital CEO Al Tylis will join the YGE board in a newly created seat.
The deal ranks as Apollo’s largest investment to date in U.S. sports. Apollo Sports Capital launched in 2025 to provide long-term capital solutions across franchises, leagues, venues, media, and related assets, with a focus on credit and hybrid structures. Apollo has previously taken a controlling stake in Spanish club Atletico Madrid.
YGE’s broader portfolio includes the YES Network, Legends Hospitality, and minority stakes in Serie A side AC Milan and MLS club New York City FC. The capital infusion can support those holdings as well as the baseball operations. Under MLB rules, a single private equity fund is limited to no more than a 15% ownership stake in a franchise; the exact equity percentage Apollo is taking was not disclosed.
Recent valuations place the Yankees among the most valuable sports teams in the world, with estimates ranging from roughly $8.5 billion to more than $9 billion. The financing gives the organization additional flexibility to pursue growth initiatives while maintaining the Steinbrenner family’s long-standing control.