Jan 03, 1973: Steinbrenner era begins
Submitted by BTGrimes on Thu, 01/03/2013 - 10:00am
Yankees sold for a bargain
NEW YORK CITY, NEW YORK - A group headed by George Steinbrenner bought the New York Yankees from CBS on this date in 1973 for the bargain price of $10 million. While the new owners was a group, Steinbrenner was clearly the boss. He would prove to be the most domineering owner since Connie Mack.
Where would the Yankees be without him? Where would Seinfeld be without him? He was more famous, or infamous, than many of his players. He was not one to sit back and let the baseball people run the team, although that's what he said was his intention in 1973. As time went on he assumed more and more control of the daily operations, and grew more and more impatient, going through a slew of managers in a short time. He was also loyal, he hired former Yankee second baseman Billy Martin as manager five times, which of course means he fired him five times.
George Steinbrenner was born July 4, 1930 in Rocky River, Ohio. He grew up in the suburbs of Cleveland. He did well enough in the family Great Lakes shipping business to have enough money to pursue the Yankees at the age of 42. Prior to purchasing the Yankees, Steinbrenner's experience was in other sports. He ran track and played football in college. He was an assistant football coach at Northwestern and later at Purdue. Steinbrenner got into sports ownership in 1960 when he bought the Cleveland Pipers of the National Industrial Basketball League.
But you can't argue with success. During Steinbrenner's reign the Yankees went to the World Series ten times and won six of them. And that $10 Million investment in 1973 is now, according to Forbes magazine, estimated to be worth over $1.8 billion.
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