Apollo Nears 16% Yankees Stake at Over $12 Billion Valuation

Insider Monkey·21 Sep 2026·

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Apollo Global Management is close to completing a deal for a 16% stake in the New York Yankees, according to a September 20 report in the New York Post that put the team's valuation at more than $12 billion. The transaction is the $2.6 billion financing agreement Apollo announced with the team's owners on August 11, its largest investment in US sports, structured as a mix of credit and equity. Under the terms described, Apollo would hold about 8% in common equity and another 8% in preferred stock that converts after four years, while the Steinbrenner family would keep control with a little over 60% and Hal Steinbrenner would remain managing general partner. Major League Baseball caps a single private equity fund at 15% of a team, and the Post reports the league is expected to waive that limit for this structure. Apollo manages about $1.05 trillion and set up Apollo Sports Capital a year ago to pursue such assets, though the record valuation, the lack of control, and the uncertain future of media rights remain key concerns.

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