Jul. 15 at 6:12 PM
The New York Yankees are reportedly in advanced negotiations to secure nearly
$3 billion in financing from Apollo Global Management's sports investment arm, according to Bloomberg. The proposed package would consist primarily of debt financing, with a smaller equity component, underscoring the increasing involvement of private capital firms in the global sports industry.
A portion of the proceeds is expected to be used to refinance existing debt, while the remaining funds would support future growth initiatives at Yankee Global Enterprises. Controlled by Hal Steinbrenner and members of the Steinbrenner family, the company has expanded beyond baseball through investments in Italian football club AC Milan and Major League Soccer's New York City FC, reflecting its broader ambitions in sports and entertainment.
$APO