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Rubenstein Communications handles Yankee Global Enterprises as its irons out a $2.6B financing pact with Apollo Sports Capital, a unit of the global alternative asset manager.
YGE’s agreement is a mix of credit and equity with proceeds earmarked to spur the growth of the baseball team and refinance existing debt.
The Steinbrenner family will retain full control of the New York Yankees with Hal Steinbrenner repping the team as the MLB control person. He said the ASC partnership allows YGE to pursue strategic opportunities.
Al Tylis, ASC CEO, will join the YGE board. “The New York Yankees are one of the most iconic franchises in sports, defined by a legacy of greatness,” he said. “We look forward to supporting the organization’s continued pursuit of excellence and the championship standard that has long been the hallmark of the New York Yankees.”
Besides The Bronx Bombers, YGE has ownership stakes in Legends Hospitality, Yankees Entertainment & Sports TV network and soccer teams New York City Football Club and AC Milan.
Apollo has $1.1T in assets under management.
Rubenstein’s Alice McGillion handles YGE as senior managing director of its arts, science & sports group. She has repped the Metropolitan Opera, FIFA, New York City Ballet, Lincoln Center for the Performing Arts and the Ford Foundation.
In Taylor’s latest thought leadership piece, we explore how the creator economy is reshaping sports marketing, and why brands must move beyond visibility to earn cultural relevance in today’s always-on sports conversation.
Teneo has inked Justin Rose, British Olympic gold medalist and the world's No. 7 ranked golfer, as its brand ambassador.
To make a major impact at such events as the upcoming World Cup or the recent Winter Olympics in Milan and Cortina, marketers need to make sure that their presence feels connected across the entire experience.
TrailRunner International has named Alden Mitchell, COO of Stanford Athletics, president of its sports unit.
The College Football Playoff has named sports PR veteran Eric Tosi chief brand marketing and communications officer, a newly created role.
