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Apollo inks $2.6 billion financing deal with NY Yankees
['Silas Brown']
Fortune | FORTUNE
Apollo Global Management Inc. is providing $2.6 billion of financing to the owners of the New York Yankees, the private capital giant’s largest investment to date in US sports.
The Yankees are owned by Yankee Global Enterprises, a company controlled by businessman Hal Steinbrenner and members of his family.
Apollo has been expanding its focus on providing long-term financing to sports leagues and clubs, while also taking ownership stakes.
Tylis will join Yankee Global Enterprises’ board, which will expand by one seat.
Goldman Sachs Group Inc. advised Yankee Global Enterprises.