The New York Yankees just became the most valuable team in baseball history. A $2.6 billion financing deal with private equity giant Apollo Sports Capital, Apollo’s largest-ever U.S. sports investment, pushed the franchise’s valuation to roughly $10 billion, a record for an MLB team, while the Steinbrenner family keeps full control. In this clip, Patrick Bet-David breaks down what the deal actually is, why Wall Street is pouring billions into sports, and what it says about baseball as a business. As super-agent Scott Boras put it, private equity firms don’t invest billions unless they see serious profit.
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Patrick Bet-David is the founder and CEO of Valuetainment Media. He is the author of the #1 Wall Street Journal Bestseller “Your Next Five Moves” (Simon & Schuster) and a father of 2 boys and 2 girls. He currently resides in Ft. Lauderdale, Florida. He currently resides in Ft. Lauderdale, Florida.
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