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George Steinbrenner III, the principal owner and managing partner of the New York Yankees, passed away on July 13, 2010.
How much did Steinbrenner pay for the Yankees?
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George Steinbrenner buys the New York Yankees
In 1973, George Steinbrenner paid $10 million for the Yankees, who were then the most valuable sports franchise in the United States. The purchase included a $3 million down payment and a $7 million loan that was to be paid over the next three years. The Yankees were valued at $12 million at the time of the sale.
How much did he pay for the team?
George Steinbrenner III, commonly known as “The Boss”, was the principal owner of the New York Yankees from 1973 until his death in 2010. He bought the team for $10 million from CBS in 1973.
Steinbrenner’s purchase of the Yankees
In 1973, Steinbrenner bought the Yankees from CBS for $10 million. At the time, it was the most expensive transaction in sports history. Under Steinbrenner’s ownership, the Yankees won 11 pennants and seven World Series titles.
Over his 37 years as owner, Steinbrenner made many changes to the Yankees, both on and off the field. He was a demanding owner who was not afraid to spend money to improve the team. He was also known for being very hands-on, and he was not afraid to make changes if he felt they were necessary.
Under Steinbrenner’s ownership, the Yankees became one of the most successful teams in baseball history. His willingness to spend money to improve the team helped make the Yankees into a dynasty.
The Yankees under Steinbrenner
George Steinbrenner, who bought the Yankees in 1973 for $10 million, dies at 80.
In an era of free agency and escalating player salaries, Steinbrenner’s payroll grew to become the highest in baseball.
At the time of his death, the Yankees had a payroll of more than $200 million.
