New Yankees Rumors on Sale of Minority Stake, Valuation amid $2.6B Deal with Apollo

One month after the New York Yankees announced a $2.6 billion financing deal with private equity firm Apollo Sports Capital, more details about the agreement have come out.

Per Scott Soshnick and Kurt Badenhausen of Sportico, the Steinbrenner family is selling at least a four percent stake in the Yankees' parent company to Apollo. Charles Gasparino of the New York Post reported that Apollo would ultimately get a 16 percent stake.

Per Soshnick and Badenhausen, Apollo's investment is a "combination of debt and equity" in Yankee Global Enterprises with the Steinbrenners and the Steinbrenners and some limited partner stakeholders selling some of their shares.

Gasparino reported that the deal would value Yankee Global Enterprises at "significantly" more than $12 billion.

The deal could reportedly be completed as soon as this week, but it could be delayed due to the "complex nature" of the situation, per Gasparino.

Apollo Sports Capital chief executive Al Tylis is being added to the YGE board as part of the deal. The company was originally founded in 1990 by a group that included Josh Harris and Tony Ressler.

Harris and Ressler, who have both since left the firm, have a strong footprint in the sports world. Harris is a co-founder of Harris Blitzer Sports & Entertainment, which is the primary ownership group of the Philadelphia 76ers, Washington Commanders and New Jersey Devils.

Ressler is part of the group that purchased the Atlanta Hawks in 2015.

Under its current leadership group, Apollo adopted a plan earlier this year to invest $6 billion as part of a its sports strategy. It has since closed a deal to purchase Atlético Madrid at a $2.6 billion valuation that was originally agreed to in November 2025.

Soshnick and Badenhausen noted Apollo owns a minority stake in Wrexham FC, plus investments in the Madrid and Miami Open tennis tournaments.

Prior to the Yankees' deal, at least 18 of MLB's 30 teams have added private equity to their ownership group since the league allowed for it in 2019.

MLB does cap private equity funds at a 15 percent ownership stake in clubs. The Steinbrenner family is the longest-tenured owner of a franchise in the sport. They have owned the Yankees since George Steinbrenner about the club in 1973.

Following George's death in 2010, his son, Hal Steinbrenner, took over as chairman of the Yankees.