New York Yankees, Apollo Agree on $2.6B Capital Injection, Investment

The New York Yankees have agreed to a $2.6 billion financing deal with Apollo Global Management, announced on Tuesday. Apollo will refinance existing debt and acquire an undisclosed minority stake in Yankee Global Enterprises (YGE), the parent company that also holds stakes in AC Milan, New York City FC, Legends, and the YES Network. The Steinbrenner family will retain full control of YGE, while Apollo Sports Capital CEO Al Tylis will join the YGE board in a newly created seat.