Yankees Reach $2.6B Financing Agreement, Steinbrenner Family to Maintain Full Control of Team

The New York Yankees are looking to improve their financial future with their latest deal.

On Tuesday, it was announced that the Yankees struck a $2.6 billion financing deal with private equity firm Apollo Sports Capital. While the Steinbrenner Family will maintain full control of the franchise, the deal will add Apollo Sports CEO Al Tylis to the team's board and refinance any existing debt.

"We welcome Apollo to the Yankees family," Yankees owner Hal Steinbrenner said in a release. "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."

The release stated that Apollo Sports Capital launched in 2025 and is "a permanent capital platform providing capital solutions across the global sports and live events ecosystem."

In March, Justin Teitelbaum and Brett Knight of Forbes reported the Yankees as the most valuable franchise in MLB at $8.5 billion. However, it was noted that their operating income was -$53 million.

At 66-52, the Yankees sit six games behind the Tampa Bay Rays (72-46) for first place in the AL East. New York hasn't won a World Series title since 2009, and three-time AL MVP Aaron Judge is still working his way back from a fractured rib.

Now that the team's finances appear to be in order, the Yankees will get back to trying to chase a spot in the playoffs as the stretch run of the season approaches. New York will open a three-game series against the Seattle Mariners (56-63) on Tuesday night.