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Yankees get $2.6 billion surge in deal with Apollo Sports Capital
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amNewYork
The Yankees are receiving a staggering $2.6 billion cash infusion after completing a deal with a New York-based asset management firm, Apollo Global Management.
“We welcome Apollo to the Yankees family,” team owner Hal Steinbrenner said.
Apollo Sports Capital CEO Al Tylis will join the board of Yankee Global Enterprises (YGE), though the Steinbrenner family will maintain full control of the organization.
“It is a privilege for Apollo Sports Capital to partner with the Yankees, and we are grateful to the Steinbrenner family for their trust.
With nearly $1 trillion in assets, Apollo recently became the majority shareholder of the famous Spanish soccer club Atletico Madrid last year.