Yankees receiving $2.6 billion in deal with Apollo Sports Capital
Yankees managing partner Hal Steinbrenner in 2025. Credit: Newsday/Thomas A. Ferrara
The Yankees are receiving $2.6 billion in an agreement with Apollo Sports Capital to help refinance existing debt and allow the team to pursue growth opportunities.
The deal is expected to close soon, according to the news release announcing the deal.
The Steinbrenner family will continue to have full control of the Yankees, and Hal Steinbrenner will remain as the managing general partner.
“We welcome Apollo to the Yankees family,” Steinbrenner said in a statement. “We are continually seeking ways to strengthen our positioning, and this partnership allows us to explore pursuing strategic opportunities. We look forward to a successful working relationship.”
Apollo Sports Capital CEO Al Tylis will join the board of Yankee Global Enterprises, the holding company of the Yankees. Apollo is a high-growth, global alternative asset manager, which became the largest shareholder in Spanish soccer team Atletico de Madrid in March.
The Yankees are the most valuable franchise in the MLB at an estimated $8.5 billion, according to Forbes’ most recent valuation.
Matt Lindsay is a high school sports reporter who joined Newsday in 2022 after graduating from Stony Brook University.
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