Who Did George Steinbrenner Purchase the New York Yankees From?

George Steinbrenner III, nicknamed “The Boss”, was an American businessman who was the principal owner and managing partner of Major League Baseball’s New York Yankees.

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George Steinbrenner’s life

George Steinbrenner was an American businessman who was the principal owner of the New York Yankees. He was born in Rocky River, Ohio and died in Tampa, Florida. Steinbrenner purchase the Yankees from CBS in 1973 for $10 million.

Born in 1930 in Rocky River, Ohio

George Steinbrenner’s parents, Henry and Rita, both worked for the United States government. His father was an agent for the Federal Bureau of Investigation (FBI), while his mother was a nurse. As a young boy, Steinbrenner was athletic and excelled in track and field. In high school, he played football, basketball, and baseball. He continued his love of sports into college where he played baseball for Williams College. After graduating from college, Steinbrenner worked for his father’s company, Kinsman Marine Transit Company, a shipping business that operated on the Great Lakes.

Graduated from Yale University in 1952

George Steinbrenner III graduated from Yale University in 1952 with a degree in shipyard engineering. He was a member of the varsity baseball and football teams at Yale. Upon graduation, he was drafted by the Kansas City Athletics, but he declined to sign with the team.

Served in the U.S. Air Force

George Steinbrenner’s first taste of the sports world came when he served as an athletic director in the United States Air Force. He later used his experience and knowledge to become one of the most successful owners in Major League Baseball history.

George Steinbrenner’s business career

George Steinbrenner purchase the New York Yankees from CBS on January 3, 1973 for $10 million. As the principal owner of the Yankees, Steinbrenner oversaw the franchise win seven World Series championships. He also was a part-owner of the American Basketball Association’s New York Nets.

Founded American Ship Building Company in 1955

George Steinbrenner’s first business venture was in shipping, when he and a friend, Lou Papais, founded the American Ship Building Company in 1955. The company built tankers and cargo ships for the U.S. Navy and other customers. It was successful enough that, by the early 1960s, Steinbrenner was a millionaire.

Purchased New York Yankees in 1973

George Steinbrenner’s business career began with his father’s shipbuilding company, Kinsman Marine Transit Company. George Steinbrenner took over the company from his father in 1957. After struggling to keep the company afloat, Steinbrenner sold Kinsman Marine in 1967.

He then founded AmeriHost Bus Lines, which he later sold to Greyhound Bus Lines in 1972. The following year, he and a group of investors purchased the New York Yankees from CBS for $10 million. Steinbrenner served as the team’s principal owner and managing partner until his death in 2010. Under his ownership, the Yankees became one of the most successful teams in Major League Baseball, winning 11 World Series titles.

George Steinbrenner’s death

George Steinbrenner, the controversial owner of the New York Yankees, died on Tuesday at the age of 80. Steinbrenner, who had been in failing health for some time, had been hospitalized for a week with a blood clot in his leg. He passed away at St. Joseph’s Hospital in Tampa, Florida.

Died in 2010

George Steinbrenner, who owned the New York Yankees for 37 years and presided over their transformation into baseball’s most valuable and storied franchise, died Tuesday morning after a heart attack at his home in Tampa, Fla. He was 80 years old.

Mr. Steinbrenner bought the Yankees from CBS in 1973 for $10 million, a record price for a baseball team at the time. When he died, the team was valued at more than $1.6 billion by Forbes magazine, making it the most valuable franchise in baseball and perhaps all of professional sports.

The Yankees won 11 American League pennants and seven World Series championships under Mr. Steinbrenner’s stewardship, reviving a storied but floundering franchise and cementing its stature as “America’s team.”

Left the Yankees to his family

Although George Steinbrenner is no longer with us, he left the Yankees in good hands. His son, Hank Steinbrenner, is the current Managing General Partner of the Yankees, and his grandson, Hal Steinbrenner, is the team’s Principal Owner and Managing General Partner. George Steinbrenner bought the Yankees from CBS in 1973 for $10 million.

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