Apollo set to take major stake in Yankees, making team most valuable in baseball

Source: New York Post

The Yankees are nearing a deal that would eventually hand a whopping 16% stake in the venerable franchise to private equity giant Apollo Global Management. The Steinbrenner family would relinquish a “de minimis” slice of its controlling equity, finalizing a transaction that will give the famed franchise a new, cash-rich partner, the Post has learned. The partnership structure makes Apollo the Yankee’s biggest equity owner after the Steinbrenner family, which will still own a bit more than 60% of the team.