A look at the purchase price of the New York Yankees by George Steinbrenner.
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George Steinbrenner buys the Yankees
In January 1973, George Steinbrenner and a group of investors bought the New York Yankees for $8.7 million from CBS. At the time, it was the second-highest price ever paid for a professional sports franchise.
How much did he buy them for?
George Steinbrenner, the principal owner of the Yankees, bought the team in 1973 for $10 million.
What was the sale price?
George Steinbrenner III, better known as “The Boss,” paid $10 million for the Yankees in 1973. The sale included Yankee Stadium and some adjacent property. The team was then worth an estimated $12 million.
What was the value of the Yankees at the time of the sale?
In 1973, George Steinbrenner paid $10 million for the Yankees, a record price for an American professional sports franchise at the time. The sale included a $3 million personal loan from Steinbrenner to CBS, which had purchased the team in 1964 for $11.2 million.
How has the value of the Yankees changed since the sale?
Since the sale of the Yankees in 1973, the team’s value has skyrocketed. In today’s dollars, Steinbrenner paid $8.7 million for the team. The Yankees are now worth an estimated $4 billion, according to Forbes.
What is the current value of the Yankees?
The current value of the Yankees is $4.6 billion, according to Forbes. This is up from $3.7 billion in 2012, when the team was bought by current owner Hal Steinbrenner.