George Steinbrenner bought the Yankees in 1973 from CBS for $10 million.
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George Steinbrenner’s Personal Life
George Steinbrenner was born on July 4, 1930, in Rocky River, Ohio, to Henry and Rita Steinbrenner. George Steinbrenner’s father, Henry, was a successful shipbuilding entrepreneur who Steinbrenner later credited as one of his biggest influences. From a young age, Steinbrenner was involved in his father’s business. He would often go to the shipyard with his father and help out however he could. When he was just a teenager, Steinbrenner started his first business venture.
George Steinbrenner was born in Rocky River, Ohio, on July 4, 1930. He was the oldest child of Rita (née Hess) and Henry George Steinbrenner II. His father was a Mayflower descendant who served as a navigator in the U.S. Navy’s Pacific Fleet during World War II. His mother was an Irish immigrant who had come to the United States in 1922. She was an accomplished equestrian, having won trophies at Madison Square Garden and pinning the yellow rosette on winner 1948 Kentucky Derby.
George Steinbrenner’s paternal grandparents ran a German wine cellar on the Lower East Side of Manhattan during Prohibition. His maternal grandfather, John Tarleton Weiss, owned a construction company in Cleveland that specialized in bridges; his work spanned from rebuilding the Tyler Davidson Fountain in Cincinnati to erecting temporary stands for the 1939 New York World’s Fair.
George Steinbrenner was born on July 4, 1930, in Rocky River, Ohio, the son of Henrietta (née American politician) and Henry George Steinbrenner II. He was of German descent on his father’s side and of Swiss-German Mennonite descent on his mother’s. His great-grandfather Christopher Faust was a Mennonite minister who had emigrated to America to join the United Brethren in Christ. George was raised a Mennonite and attended a United Brethren church until he was 14 when he joined his family in the Episcopal Church.
He has been quoted as saying, “My father’s love for America made me proud to be a Yankee.”
George Steinbrenner III was born in Rocky River, Ohio, on July 4, 1930. He was the oldest of four children of Henrietta (DeLazzaro) and Henry George Steinbrenner II, who later became a successful shipyard owner in Cleveland. The younger Steinbrenner was a star halfback on his high school football team. He went on to earn a bachelor’s degree in economics from Williams College in 1952.
George Steinbrenner’s Business Career
George Steinbrenner was an American businessman who owned the New York Yankees. He was born in 1930 in Rocky River, Ohio. His father was a successful businessman who owned a shipping company. George Steinbrenner was a star athlete in high school and college. After college, he went to work for his father’s company. In 1957, he took over the company after his father died.
American Ship Building Company
In 1967, George Steinbrenner 3rd, then 36 years old, résumé already included a stint as an assistant football coach at Northwestern University and six years as the head of Kinsman Marine Transit Company, a Great Lakes shipping concern that he had saved from bankruptcy. He was looking for a new challenge. That’s when he took over American Ship Building Company, a money-losing shipyard on the Ohio River in Cincinnati.
Under Steinbrenner’s leadership, American Ship became one of the most successful shipbuilders in the United States. He turned around the company by modernizing its facilities and business practices. He also formed partnerships with foreign companies to build ships for the U.S. Navy.
In 1973, Steinbrenner made his first foray into sports when he purchased a minority stake in the New York Yankees. Four years later, he became the sole owner of the team. Steinbrenner transformed the Yankees into one of the most successful franchises in baseball history. Under his leadership, the team won 11 American League pennants and seven World Series titles.
New York Yankees
George Steinbrenner’s business career began with his father, Henry, who was a successful shipping magnate. George took over the family business in the late 1950s and quickly expanded its operations. In the early 1960s, he invested in a variety of businesses, including a failing shipyard and a failing container business. By the mid-1960s, Steinbrenner had become one of the most successful young businessmen in America.
In 1973, Steinbrenner bought the New York Yankees for $10 million. The team had been struggling for years and was in last place when he bought it. Steinbrenner immediately invested millions of dollars in players and facilities, and the team quickly became one of the best in baseball. Under Steinbrenner’s ownership, the Yankees won seven World Series titles and 11 American League pennants.
Steinbrenner was known for his eccentric behavior and controversial leadership style. He frequently hired and fired managers and general managers, and he was frequently involved in arguments with players, umpires, and journalists. He was suspended from baseball several times, but he always returned to lead the Yankees to more success.
George Steinbrenner died in 2010 at the age of 80.
George Steinbrenner’s Legacy
George Steinbrenner was an American businessman who owned the New York Yankees. He was born on July 4, 1930, in Rocky River, Ohio. He died on July 13, 2010, in Tampa, Florida. He was the principal owner of the Yankees from 1973 until his death.
George Steinbrenner, who bought the last-place Yankees in 1973 for $10 million and turned them into a billion-dollar baseball powerhouse and a symbol of New York City as one of the most successful and controversial sports team owners in history, died Tuesday morning. He was 80.
The cause was a heart attack, said Richard Sandomir, a spokesman for the Yankees.
Mr. Steinbrenner had been in failing health for much of the last decade and had been hospitalized several times with heart ailments, most recently in April. He had been semi-retired since 2006, when he passed daily management of the Yankees to his youngest son, Hal, though he remained involved in many aspects of team decisions and continued to hold sway over all things Yankee.
Even as his health declined in recent years, George Steinbrenner never backed away from spending whatever it took — often whatever it took — to make sure his Yankees were winners. In doing so he redefined not only what it meant to be an owner in professional sports but also how much say an owner should have in how a team was run on a daily basis.
Impact on the Yankees
George Steinbrenner’s legacy as the principal owner of the New York Yankees is secure. He bought the team in 1973 for $8.7 million, and turned them into a global sports brand worth an estimated $1.8 billion today. Under his leadership, the Yankees won 11 pennants and seven World Series titles. Steinbrenner also helped transformed Yankee Stadium into a world-class venue, and was a driving force behind the construction of the new Yankee Stadium, which opened in 2009.
But Steinbrenner’s impact on the Yankees went beyond just wins and losses. He changed the way sports teams do business, and his influence is still felt today. Here are five ways George Steinbrenner changed the Yankees – and the sports world:
1. He made free agency work for his team: In those early years as owner of the Yankees, Steinbrenner was heavily criticized for his willingness to spend whatever it took to put a winning team on the field. But he was also one of the first owners to realize that free agency could be used to build a dynasty – if it was done right. In 1976, he famously signed pitchers Catfish Hunter and Ed Figueroa to multi-year deals worth a combined $5 million, a staggering amount of money at that time. The signings paid off immediately, as the Yankees won their first World Series in 15 years that season.
2. He changed how player contracts were negotiated: Prior to Steinbrenner’s arrival on the scene, player contracts were typically negotiated between owners and players’ agents with little input from the player himself. But Steinbrenner believed that players should have more input in contract negotiations – after all, they were the ones who would be playing under those contracts. He gave his players a say in contract talks, and even went so far as to bring some players into his office to negotiate their own deals. This new approach revolutionized contract negotiations in baseball, and is now standard practice across all major sports leagues.
3. He made superstars out of role players: One of Steinbrenner’s trademarks as owner of the Yankees was his willingness to spend big money on free agents – even if they were only role players. In 1978, he signed left fielder Reggie Jackson to a then-record five-year, $3 million contract despite Jackson’s reputation as a volatile player with a history of injuries. The gamble paid off handsomely, as Jackson played a key role in leading the Yankees to victory in two World Series (1978 and 1981). Superstars like Jackson helped make the Yankees into one of baseball’s most feared teams, instilling fear in their opponents long before they ever stepped onto the field.
4., He popularized luxury boxes: When Steinbrenner took over as owner of the Yankees in 1973, Yankee Stadium was in dire need of renovation.. One of Steinbrenner’s first moves was to add luxury boxes to Yankee Stadium…Luxury boxes quickly became hugely popular among corporate fans who were willing to pay top dollar for premium seating and amenities like catering services..The success of luxury boxes at Yankee Stadium spurred other teams to follow suit,,and today luxury suites can be found at nearly every major sporting venue..in North America..
5.,He resurrected midnight baseball: In 1979,,Steinbrenner came up with an innovative way to boost attendance at Yankee games:He schedule seven home games for midnight start times,,a move that resulted in packed houses at Yankee Stadium..Despite concerns about safety and security,,the experiment was such a success that other teams soon followed suit,,scheduling their own “midnight baseball” games..Today,,midnight baseball is commonplace in MLB,,with nearly two dozen games scheduled for early morning start times each season..