Apollo Global Management, the largest shareholder of Atlético de Madrid, is in talks to provide a $3 billion financing package to Major League Baseball (MLB) franchise New York Yankees.
According to Bloomberg, the proposed package would consist primarily of debt financing, alongside a smaller equity component, with the remaining capital earmarked for future growth opportunities.
MLB ownership rules shape the deal
MLB regulations prohibit private equity firms from becoming majority owners of clubs and cap each fund’s ownership stake at 15%.
As a result, Apollo is pursuing a financing structure centered on debt rather than seeking a controlling equity position in the Yankees.
MLB’s most valuable franchise
The New York Yankees are owned by Yankee Global Enterprises, controlled by Hal Steinbrenner and his family, whose sports portfolio also includes AC Milan and Major League Soccer’s New York City FC.
According to Sportico, the Yankees are the most valuable franchise in Major League Baseball, with an estimated valuation of $9.4 billion, making them one of the world’s most valuable sports organizations.
Apollo expands its sports investment strategy
Sports has become a key pillar of Apollo’s long-term investment strategy.
Through Apollo Sports Capital, the firm plans to invest $6 billion across sports teams, leagues, venues and media assets.
Apollo’s assets under management grew nearly 25% last year to $938 billion, with the company expecting approximately 25% of its 2026 revenue growth to come from new initiatives such as Apollo Sports Capital.
Growing sports portfolio
Beyond its investment in Atlético de Madrid, Apollo has continued expanding its presence across the global sports industry.
The firm’s portfolio includes investments in Premier League club Nottingham Forest, a minority stake in Wrexham AFC, backing GoodLife Fitness in Canada, and a $225 million investment in Pickleball Inc., reflecting its growing focus on emerging sports properties.
If completed, the proposed financing agreement with the New York Yankees would rank among Apollo’s largest and most significant transactions in the global sports industry, further strengthening its position as one of the sector’s leading institutional investors.