The Yankees are in “advanced talks” to raise nearly $3B of financing from Apollo Global Management Inc., according to sources cited by BLOOMBERG NEWS. Sources said that the two are “discussing the terms of a package comprising mostly debt and also some equity.” They added that some of the funds raised are “expected to be used to refinance existing debt, with the remainder earmarked for growth opportunities.” The sources noted that deliberations are “ongoing and no final decisions on the size or structure of the financing have been made.” The deal, if it goes ahead, would mark Apollo’s “biggest investment” in U.S. sports to date (BLOOMBERG NEWS, 7/15).
Report: Yankees, Apollo in talks over financing
