Apollo nears $2.6B deal for a 16% stake in the New York Yankees

Apollo Global Management is closing in on a $2.6 billion financing and equity agreement to secure an ultimate 16% economic stake in Yankee Global Enterprises, the parent company of the New York Yankees.

Under the reported terms, Apollo will acquire an initial 8% direct equity stake alongside an additional 8% structured as convertible preferred shares. Those convertible shares are designed to mature into common equity over a four-year period.

The transaction implies a valuation of $12.0 billion for Yankee Global Enterprises, while alternative deal tracker metrics place the implied enterprise value at $10.0 billion. Forbes previously cited an $8.5 billion valuation for the baseball franchise in August 2026.

Major League Baseball currently maintains a 15% ownership cap for an individual private equity fund holding an interest in a franchise. Yankee Global Enterprises maintains a total of 13 seats on its board of directors.