Yankees, Apollo Sports Capital close $2.6B financing deal

Yankee Global Enterprises and Apollo Sports Capital announced a $2.6 billion financing agreement on Tuesday, consisting of a mix of credit and equity aimed at franchise growth and refinancing existing debt. As part of the deal, Apollo Sports Capital CEO Al Tylis will join the YGE board, though the Steinbrenner family retains full control with Hal Steinbrenner remaining as general managing partner. The Yankees are valued between $8.5 billion and $9 billion, making them the most valuable franchise in MLB, which caps private equity ownership at 15% of a team's equity.