The New York Yankees are in advanced talks to raise nearly $3bn in financing from Apollo Global Management, Bloomberg reports. Proceeds would refinance existing debt and fund growth, though structure and size remain undecided. MLB rules prevent private‑equity firms from owning more than 15% of a team, pushing backers toward debt‑led deals.

The Yankees, owned by Yankee Global Enterprises and led by Hal Steinbrenner, are valued over $9bn by Sportico, making them baseball’s most valuable franchise and a global brand. Apollo’s strategy focuses on long‑term capital for leagues and clubs; its Apollo Sports Capital arm, headed by Al Tylis, launched a $5bn strategy last year and now holds a majority stake in Atlético de Madrid.

The talks reflect a broader trend of firms such as Arctos Partners, CVC Capital Partners, and Ares Management investing in sports assets. A successful deal would signal Apollo’s deepening entry into a market where scarce, loyal‑fan assets command rising media value.