Overview
- Reports on Sept. 20–21 say Apollo Capital Management has closed its upfront cash purchase and that sales by limited partners to finish the ownership change are in their final stages.
- The reported structure combines an immediate 8% equity purchase with preferred shares convertible into another 8% of economic interest after four years.
- The Steinbrenner family is reported to retain controlling ownership above 60% while selling a small, described 'de minimis' slice of its stake.
- Yankee Global Enterprises would use the $2.6 billion financing to refinance expensive holding-company bank debt and to provide cash that could be used for player spending and operational needs.
- The deal would value the franchise at well over $12 billion, could surpass the Dodgers as baseball’s top team by valuation, and may require an MLB waiver because rules cap private equity at 15% ownership.