New Yankees Rumors on Sale of Minority Stake, Valuation amid $2.6B Deal with Apollo

One month after the New York Yankees announced a $2.6 billion financing deal with private equity firm Apollo Sports Capital, more details about the agreement have come out.

Per Scott Soshnick and Kurt Badenhausen of Sportico, the Steinbrenner family is selling at least a four percent stake in the Yankees' parent company to Apollo.

Apollo's investment is a "combination of debt and equity" in Yankee Global Enterprises with the Steinbrenners and the Steinbrenners and some limited partner stakeholders selling some of their shares.

The report also notes the deal valued Yankee Global Enterprises at more than $10 billion.

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