New York Yankees buy stake in A1 Padel

The New York Yankees invest in the A1 Padel circuit. 

Yankee Global Enterprises, the Steinbrenner family-owned holding company, has signed a preliminary term sheet to buy an equity stake in A1 Padel. 

“Padel is growing rapidly, and A1 Padel is producing high-quality, dynamic events for players, fans, and sponsors, and there is a remarkable opportunity for sustained expansion,” Yankees president Randy Levine said in a press release announcing the deal.

Last year, Ike S. Franco, a minority owner of the Yankees, bought an equity stake in A1 Padel. The entry of new investors and organizers has also brought the A1 Padel to the United States, where two events have been announced: New York and Miami.

“There is no better partner in sports than the New York Yankees and Yankee Global Enterprises, and we are thrilled to have their excellence in developing, producing, and marketing our content,” says Fabrice Pastor, the President of A1 Padel.