Landmark deal between the Yankees and Apollo Global Management for $2.6 billion

The New York Yankees have reached an agreement with Apollo Sports Capital (ASC), a subsidiary of Apollo Global Management, Inc., led by billionaire Marc Rowan, under which the asset management firm is providing financing valued at $2.6 billion to the Major League Baseball (MLB).

In a press release, ASC reported that this agreement "is a mix of credit and equity," in addition to serving to "the continued growth of the Yankees franchise as well as refinancing of existing debt."

This deal involves the appointment of ASC's CEO, Al Tylis, to the board of directors of Yankee Global Enterprises (YGE), the Yankees' parent company, although the governance of the franchise, owned by Hal Steinbrenner, will remain unchanged.

Steinbrenner, who will continue to serve as the Yankees' chief representative in MLB, stated that this agreement will serve to strengthen one of the league's most iconic franchises.

"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," he said.

Tylis echoed this sentiment. "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," noted the ASC CEO.

The Yankees are not the first sports asset financed by this group. Apollo Global Management, Inc., is the majority shareholder of Atlético de Madrid since November 2025, when they acquired a 55% stake in the Spanish soccer club for approximately $1.6 billion. It also holds a minority stake in Wrexham AFC, a Welsh soccer team that plays in the Premier League and has been co-owned by actor Ryan Reynolds since December 2025.