Apollo commits $2.6 billion to fund New York Yankees growth and debt refinancing

Apollo Global Management disclosed a $2.6 billion financing arrangement with the owners of the New York Yankees, combining debt and equity components. The capital will help Yankee Global Enterprises pursue expansion projects and refinance its outstanding borrowings. Apollo’s sports-focused arm, led by Al Tylis, will gain a board seat on the Yankees, reflecting its broader strategy that includes a majority stake in Atlético de Madrid.

The deal, confirmed in a statement on Tuesday, was structured with advice from Goldman Sachs Group. It marks Apollo’s biggest U.S. sports deal and underscores growing competition among firms such as Arctos Partners, CVC Capital Partners and Ares Management Corp for sports franchise exposure. The Steinbrenner family will retain full control of the team, which also holds interests in AC Milan and New York City FC.