NY Yankees Secure $2.6B Financing From Apollo Sports Capital

Yankee Global Enterprises has reached a $2.6 billion financing agreement with affiliates of Apollo Sports Capital, giving the New York Yankees’ parent additional capital to refinance existing debt and pursue strategic growth opportunities.

The agreement combines credit and equity financing. The Steinbrenner family will retain full control of the Yankees. Hal Steinbrenner will remain managing general partner and continue serving as the franchise’s control person with Major League Baseball.

Apollo Sports Capital CEO Al Tylis will join Yankee Global Enterprises’ board, which will expand by one seat.

“We are continually seeking ways to strengthen our positioning, and this partnership allows us to explore pursuing strategic opportunities,” Steinbrenner said.

MLB rules permit an individual private equity fund to own up to 15% of a club. The Yankees were valued at $8.5 billion by Forbes in March, although the Apollo financing covers Yankee Global Enterprises rather than solely the baseball franchise.

Yankee Global Enterprises also holds interests in the YES Network, Legends Hospitality and soccer clubs New York City FC and AC Milan.

Apollo launched ASC in September 2025 as a permanent-capital platform targeting credit and hybrid investments across sports franchises, leagues, venues, media rights and live events. Permanent capital allows the platform to hold investments without the exit deadlines associated with traditional private equity funds.

Apollo-managed funds had already deployed approximately $17 billion across sports and entertainment businesses, media rights and stadium and league financings when ASC launched. Apollo manages approximately $1.05 trillion in assets.

Gibson Dunn is acting as counsel to YGE and Goldman Sachs served as strategic advisor. Paul, Weiss, Rifkind, Wharton & Garrison is acting as lead legal counsel to Apollo Sports Capital with Katten Muchin Rosenman acting as regulatory counsel.