Apollo Sports Capital has agreed a $2.6bn investment in Yankee Global Enterprises, providing the owner of the New York Yankees with fresh capital to reduce debt and pursue new commercial opportunities, according to a report by Reuters.
The transaction, announced by the Yankees, will allow Yankee Global Enterprises to refinance or retire a substantial portion of its existing debt while giving the group additional financial capacity to invest in new ventures.
The Steinbrenner family will retain co...
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