Overview
- Multiple outlets reported Wednesday that the New York Yankees and Apollo Global Management are negotiating a $2 billion to $3 billion package of debt and equity into Yankee Global Enterprises, with talks described as advanced but not final.
- The capital would go to YGE, the Yankees’ parent company, rather than as a direct purchase of the team, and the Steinbrenner family is expected to retain controlling ownership.
- Reporting says the debt portion would help refinance existing obligations while the equity piece would be used to buy out some limited partners in YGE.
- Major League Baseball rules cap private-equity funds at 15% ownership per fund and bar institutional majority stakes, limits that will shape the deal’s structure and require league review.
- Apollo has been building a sports fund and recently bought Atlético de Madrid, making this potential investment its largest U.S. sports move to date, and both parties have declined to comment as negotiations continue and terms remain unfinalized.