The New York Yankees, the iconic Major League Baseball (MLB) franchise, has confirmed a major $2.6 billion financing agreement with the Apollo Sports Capital investment firm that includes an equity stake in the team.
A mix of debt and equity, this deal was struck with the sports investment arm of asset management major Apollo.
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Securing this agreement allows the Yankees to refinance existing debt, of which there is reportedly less than $100 million, connected to the construction of the franchise’s 46,537-capacity Yankee Stadium ballpark, which opened in 2009.
Al Tylis, the chief executive of Apollo Sports Capital, will take up a seat on the Yankees Global Enterprise (the franchise’s holding company) board, which will expand by one seat to accommodate him.
Speaking on the announcement, Apollo partner Robert Givone said: “This is precisely the kind of bespoke capital solution Apollo Sports Capital was built to deliver, and we look forward to being a long-term partner to this storied franchise.”
This deal was advised by major investment bank Goldman Sachs, while Gibson Dunn served as counsel to Yankees Global Enterprises.
The Yankees are perhaps the most valuable franchise in MLB, with Forbes valuing the team at $8.5 billion in March 2026.
This Apollo investment, however, does not provide a benchmark for a team valuation, as the deal is a mix of debt and equity, meaning the exact amount of the $2.6 billion earmarked for the equity stake is unknown.
Similarly, MLB rules prevent private equity firms from owning more than 15% of a franchise, but the percentage stake that Apollo has taken in the Yankees has not been revealed.
The Yankees have been owned by the same family, the Steinbrenners, since 1973, and are one of the most valuable sports franchises globally.
Hal Steinbrenner, the franchise's chair since 2007, will remain the team's managing partner and MLB control person, with this agreement not affecting his stewardship role.
Steinbrenner commented on the agreement: “We are continually seeking ways to strengthen our positioning, and this partnership allows us to explore pursuing strategic opportunities. We look forward to a successful working relationship.”
Their Yankee Global Enterprises arm also has stakes in Italian soccer heavyweights AC Milan, as well as in New York City FC of Major League Soccer.
Apollo, meanwhile, launched its Apollo Sports Capital branch in 2025, and has already acquired a major sports team in the European market, taking a majority stake in Spanish soccer's Atletico Madrid that same year.
The Yankees currently sit second in the five-team American League East MLB division, heading into the closing stages of the 2026 MLB regular season campaign, having won 67 and lost 52 games.
The team's most recent MLB World Series championship came in 2009 – in total they have won an MLB record 27 World Series.
