The New York Yankees are reportedly in advanced negotiations with Apollo Global Management for a $3 billion financing package, according to a report citing people familiar with the matter. The proposed deal would include a mix of debt and equity, aimed at refinancing existing obligations and funding future expansion projects for the storied baseball franchise.
This potential transaction comes as the Yankees' valuation continues to climb, with recent estimates placing the club's worth at over $9 billion. The ownership group, controlled by Hal Steinbrenner and his family through Yankee Global Enterprises, also holds stakes in AC Milan and New York City FC.
Negotiations are ongoing to finalize the specific size and structure of the deal. Major League Baseball regulations limit private equity ownership to 15% per fund and prohibit institutional firms from holding majority stakes in franchises. Apollo Global Management declined to comment, and the Yankees have also been approached for comment.
If finalized, the agreement would mark Apollo's largest capital injection into the U.S. sports market to date. The firm has been actively increasing its presence in professional sports, recently acquiring a majority stake in Spanish soccer team Atlético de Madrid through its sports capital division. Wall Street firms like Ares Management Corp. and CVC Capital Partners are increasingly targeting professional leagues for long-term investments, with Apollo rolling out a $5 billion sports investment strategy last year.
Sportico currently values the Yankees franchise at more than $9 billion, underscoring its significant financial standing within global sports.