From New York Post · · 50s
Hal Steinbrenner clarifies Apollo deal won't sell Yankees
Yankees owner Hal Steinbrenner says Apollo's 16% stake brings financial stability, not a sale.
In brief
Yankees owner Hal Steinbrenner says Apollo's 16% stake brings financial stability, not a sale. Yankees owner Hal Steinbrenner states Apollo's $2.6 billion deal provides long-term financial stability without selling the team. Originally reported by New York Post.
Apollo stake in Yankees
Private equity firm Apollo Global Management now holds a 16 percent stake in the Yankees.
Steinbrenner's clarification
Yankees owner Hal Steinbrenner says the deal provides long-term financial stability without selling the team.
Financial stability goal
The $2.6 billion financing deal aims for financial stability for Hal Steinbrenner and his sisters into the third generation.
Limited partnership rights
Apollo partners have rights no different than other limited partners with no day-to-day control.
The bottom line
Yankees owner Hal Steinbrenner states Apollo's $2.6 billion deal provides long-term financial stability without selling the team.
