Apollo Sports Capital is reportedly nearing completion of a deal to acquire a minority stake in Yankee Global Enterprises (YGE), the parent company of the New York Yankees. This expansion would add to Apollo's existing investments, which include Atletico Madrid and Wrexham AFC.
The agreement is said to involve Apollo acquiring an eight per cent stake in YGE, with the company valued in excess of $12bn. Some reports suggest Apollo would also receive preferred shares that could convert into an additional eight per cent equity in 2030.
The Steinbrenner family, long-standing owners in Major League Baseball, will maintain their majority shareholder position in YGE and the Yankees. The deal would also extend Apollo's interests to include AC Milan, New York City FC, and various media and hospitality businesses.
This development follows a $2.6bn financing deal agreed between Apollo and YGE just weeks prior, which saw Apollo Sports Capital CEO Al Tylis join the YGE board. YGE chairman Hal Steinbrenner stated last month that the partnership allows them to explore strategic opportunities.