Private Equity Firm Apollo Global Management will now have a 16 percent stake in the Yankees.
But that doesn’t mean things are changing about who oversees the iconic Bronx franchise.
Yankees owner Hal Steinbrenner, speaking with reporters Wednesday in a 2026 season postmortem press conference, made clear that the $2.6 billion financing deal will not mean that the team will be getting fully sold.
Steinbrenner added that the infusion of funds provides the Yankees with “more financial stability” for the long haul.
“No, it is not a precursor to fully selling the team,” Steinbrenner said. “The whole goal of the Apollo deal was to bring in capital into the company that would be there for us to give us more financial stability for years and years to come, including the years when I’m out of here and the third generation is running the team. I mean, they came in fully understanding this. They came in as limited partners with rights no different than any of other limited partners, which can be unusual for a private equity firm.
“But they felt that strongly about being a part of the organization. So no, it is not a precursor to selling the team. It’s all about creating financial stability for both me and my sisters, into the third generation, years and years to come.”
As The Post’s Charles Gasparino reported in August, Apollo received an 8 percent stake of the team right away and received preferred stock for the other 8 percent. That preferred stock can be converted into pure equity in four years.
Apollo Sports Capital CEO Al Tylis joins the Yankee Global Enterprise board, but Steinbrenner added that does not mean the private equity firm will have day-to-day say with the Bombers.
“Zero. Again, they have rights no different than our other limited partners. Al, who’s head of this one particular fund, is a member of the YG board now, Yankee Global board, and he’s a very, very intelligent guy,” Steinbrenner added. “So I expect to have a lot of conversations with him, as I do with some of our other partners.
“But zero rights, zero control of day-to-day operations, nothing whatsoever.”
According to multiple reports, MLB owners voted this summer to allow private equity groups to own up to 20 percent (up from 15 percent) but cannot own more than the controlling owner’s stake of a team.
Hal Steinbrenner’s dad, George, bought the Yankees with a group of investors in 1973. Hal took over day-to-day operations of the club at the end of 2008.
Credit: Source link
