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Yankees’ Reach $2.6 Billion Dollar Deal With Apollo Sports Capital
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Heavy Sports
The New York Yankees and its holding company (Yankees Global Enterprises) YGE publicly announced a $2.6 billion deal with Apollo Sports Capital.
Apollo Sports Capital made the deal official on its website, stating that it is a “mix of credit and equity, with proceeds benefiting the Yankees franchise and refinancing existing debt.”
It’s important to reiterate that with this deal, Hal Steinbrenner and the Steinbrenner family will still have full control over the franchise.
Yankees And Apollo New Partnership/BackgroundBarbarisi of The Athletic reports that Apollo is referring to this as an “equity investment” and that, as it pertains to “debt refinancing,”pertaining to the Yankees Global Enterprise, which is the Yankees parent company.
Apollo Sports Capital CEO Al Tylis commented on the deal, stating, “It is a privilege for Apollo Sports Capital to partner with the Yankees, and we are grateful to the Steinbrenner family for their trust.”