The Yankees are getting a major financial boost from Apollo Sports Capital, with Yankee Global Enterprises set to receive $2.6 billion in a new financing deal announced Tuesday.
The agreement, which combines debt and equity, gives the Yankees room to refinance or pay down much of their current debt and then move into new opportunities. Even with Apollo coming in, the Steinbrenners are keeping full control of the franchise. Hal Steinbrenner will remain the team’s managing general partner.
Apollo Sports Capital CEO Al Tylis is also getting a seat on the Yankee Global Enterprises board.
“We are continually seeking ways to strengthen our positioning, and this partnership allows us to explore pursuing strategic opportunities,” Steinbrenner said in the news release.
MLB rules cap an individual private equity fund’s stake in a club at 15 percent, and the exact size of Apollo’s equity piece was not disclosed. The deal’s structure also makes it hard to pin down a valuation for the Yankees from the transaction alone, especially since Yankee Global Enterprises includes more than just the baseball team.
The parent company also owns the YES Network and Legends Hospitality, and holds stakes in AC Milan and New York City FC.
Apollo itself is a heavyweight, with nearly $1 trillion in assets under management. In 2025, it became the majority stakeholder in Atlético Madrid.
For the Yankees, the timing fits a long-running debt picture tied to Yankee Stadium construction. The club refinanced about $1 billion of that debt in 2016 and is believed to be carrying less than $100 million now.
The Yankees were listed by Forbes in December as the only MLB team in the top 10 of the world’s most valuable sports teams, tied with the Chicago Bears at $8.2 billion. In March, the team was most recently valued at $8.5 billion.
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