PRIVATE EQUITY SWOOP: Apollo Eyes 16% Stake in Yankees, Making Team Baseball's Most Valuable...

Apollo Global Management is acquiring a 16% stake in the New York Yankees, a move that values the team at approximately $32.5 billion and makes it baseball's most valuable franchise. The private equity firm's investment marks a significant shift in how major sports teams access capital, with Apollo gaining board representation while current ownership retains operational control. The deal reflects surging valuations across professional sports, driven by media rights increases and expanding revenue streams from sports betting and digital content.