Yankee Global Enterprises, the holding company of the New York Yankees, has entered into a $2.6 billion financing agreement with affiliates of Apollo Sports Capital. The financing combines credit and equity and is intended to support continued growth of the Yankees franchise while refinancing existing debt.
As part of the agreement, Apollo Sports Capital CEO Al Tylis will join the Yankee Global Enterprises board, which will expand by one seat.
The Steinbrenner family will retain full control of the New York Yankees. Hal Steinbrenner will remain Managing General Partner of the Yankees and continue serving as the team’s MLB Control Person.
Yankee Global Enterprises said the partnership will provide additional financial flexibility as the organization evaluates strategic opportunities and continues investing in the franchise.
Apollo Sports Capital launched in 2025 as a permanent capital platform focused on providing financing solutions across the global sports and live events ecosystem.
The transaction represents the type of customized financing Apollo Sports Capital was created to provide, combining long-term capital with strategic involvement in major sports properties.
Yankee Global Enterprises’ broader portfolio includes ownership interests in Legends Hospitality, the YES Network, New York City Football Club and AC Milan, in addition to its ownership of the New York Yankees.
Apollo manages approximately $1.05 trillion in assets as of June 30, 2026, across strategies ranging from investment-grade credit to private equity.
Gibson Dunn is serving as legal counsel to Yankee Global Enterprises, while Goldman Sachs is serving as strategic advisor.
Paul, Weiss, Rifkind, Wharton & Garrison is serving as lead legal counsel to Apollo Sports Capital, with Katten Muchin Rosenman acting as regulatory counsel.
KEY QUOTES:
“We welcome Apollo to the Yankees family. 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.”
Hal Steinbrenner, Chairman of Yankee Global Enterprises
“The New York Yankees are one of the most iconic franchises in sports, defined by a legacy of greatness. It is a privilege for Apollo Sports Capital to partner with the Yankees, and we are grateful to the Steinbrenner family for their trust.”
“We look forward to supporting the organization’s continued pursuit of excellence and the championship standard that has long been the hallmark of the New York Yankees.”
Al Tylis, CEO of Apollo Sports Capital
“This is precisely the kind of bespoke capital solution Apollo Sports Capital was built to deliver, and we look forward to being a long-term partner to this storied franchise.”
Robert Givone, Partner at Apollo
