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Caroline Ryan

Apollo Backs the Yankees With $2.6 Billion in Financing

Apollo Yankees APO Hal Steinbrenner the New York Yankees NYSE

Sports,Balls,On,White,Background

Apollo Sports Capital is providing $2.6 billion in debt and equity financing to Yankee Global Enterprises, bringing the private-equity firm in as a new strategic backer of the New York Yankees’ holding company.

The transaction will help fund growth initiatives at the franchise while refinancing existing borrowings, according to Yankee Global Enterprises, which announced the deal Tuesday.

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