Yankee Global Enterprises (YGE), the holding company of the New York Yankees, has entered into a $2.6 billion financing agreement with affiliates of Apollo Sports Capital (ASC), a permanent capital platform of Apollo (NYSE: APO), according to a press release.

The financing is structured as a mix of credit and equity. Proceeds will support the growth of the Yankees franchise and refinance existing debt. The transaction is expected to close imminently.

As part of the agreement, Apollo Sports Capital CEO Al Tylis will join YGE's board of directors, which will expand by one seat. The Steinbrenner family will retain full control of the New York Yankees, with Hal Steinbrenner remaining as Managing General Partner and continuing to serve as the team's MLB Control Person.

Hal Steinbrenner, Chairman of YGE, said: "We welcome Apollo to the Yankees family. We are continually seeking ways to strengthen our positioning, and this partnership allows us to explore pursuing strategic opportunities."

Apollo Sports Capital was launched in 2025 as a permanent capital platform providing capital solutions across the global sports and live events sector. Apollo reported approximately $1.05 trillion in assets under management as of June 30, 2026.

Gibson Dunn is serving as counsel to YGE, with Goldman Sachs acting as strategic advisor. Paul, Weiss, Rifkind, Wharton & Garrison is serving as lead legal counsel to Apollo Sports Capital, with Katten Muchin Rosenman acting as regulatory counsel.