Many people are interested in how much George Steinbrenner paid for the Yankees. Here are some facts and figures.
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George Steinbrenner’s Purchase of the Yankees
George Steinbrenner, former owner of the New York Yankees, passed away on Tuesday, July 13, 2010 at the age of 80. Steinbrenner purchased the Yankees in 1973 from CBS for $10 million. Under his ownership, the Yankees won seven World Series championships and 11 American League pennants.
George Steinbrenner’s Background
George Steinbrenner III was born in Rocky River, Ohio, on July 4, 1930. His father, Henry, was a successful shipbuilding magnate who had changed the family’s name from Steinbrecher to Steinbrenner after moving to Ohio from Germany in the 1890s. George III was the eldest of Henry and Rita’s four children. He attended Culver Military Academy in Indiana for high school and then went on to Williams College in Massachusetts, where he studied English and played football. After graduating from Williams in 1952, Steinbrenner joined the Air Force for two years.
The Purchase of the Yankees
George Steinbrenner’s purchase of the Yankees was finalized on January 3, 1973, for a total price of $10 million. The purchase included a controlling interest in Yankee Stadium and the lease to the land on which the stadium was built.
At the time of the purchase, Steinbrenner was just 40 years old and relatively unknown outside of the shipping industry. He quickly made a name for himself in baseball, though, as he began making splashy moves to try to make the Yankees a winner again. In just his second year as owner, he hired Billy Martin as manager and signed free agent slugger Reggie Jackson. The team went on to win the World Series that year.
Over the years, Steinbrenner became known as a demanding owner who was not afraid to spend money to win. He approved some of the largest contracts in baseball history and was not shy about making changes if he felt they were necessary. He also became embroiled in a number of controversies, both on and off the field.
Still, under Steinbrenner’s ownership, the Yankees became one of baseball’s most successful franchises. They won 11 American League pennants and seven World Series titles during his time as owner.
Steinbrenner passed away in 2010, and his family sold the team to a group of investors led by former Goldman Sachs partner David Einhorn for $1.5 billion.
George Steinbrenner’s Ownership of the Yankees
In 1973, George Steinbrenner paid $10 million for the New York Yankees, a record price at the time for a professional sports franchise. Over the years, Steinbrenner’s ownership of the Yankees has been controversial. He has been accused of meddling in the team’s operations and making unpopular decisions, but he has also been credited with reviving the team’s fortunes.
George Steinbrenner’s Controversial Ownership
George Steinbrenner’s tenure as owner of the New York Yankees was marked by controversy. He was known for making bold and sometimes unpopular decisions, but he was also credited with turning the Yankees into a successful franchise.
Steinbrenner bought the Yankees in 1973 for $10 million. He quickly made his mark on the team, firing manager Yogi Berra after just one season. He also caused a stir when he signed star player Reggie Jackson to a five-year, $3 million contract, making him the highest-paid player in baseball at the time.
Not all of Steinbrenner’s decisions were popular with fans or the media. In 1977, he was suspended from baseball for two years after he was found guilty of making illegal campaign contributions to Richard Nixon’s re-election campaign. He was also involved in a number of public disputes with players, managers, and other team personnel over the years.
Despite his often tumultuous behavior, Steinbrenner is widely credited with helping to turn the Yankees into one of baseball’s most successful franchises. Under his ownership, the team won seven World Series titles and 11 American League pennants.
George Steinbrenner’s Legacy
George Steinbrenner will always be remembered as the controversial owner of the New York Yankees. He bought the team in 1973 for $10 million, and during his 37 years of ownership, the Yankees won 11 American League pennants and seven World Series titles. Steinbrenner was also known for his clashed with players, managers, and umpires. He was suspended from baseball three times and was once called “the most hated man in baseball.” Nevertheless, Steinbrenner was a successful owner, and he is credited with helping to revive the Yankees franchise. He passed away in 2010 at the age of 80.