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CBS bought the club from Vegas entrepreneur Del Webb for $13.2 million at the end of the 1964 season, allowing Webb to retain a 20% ownership. The sale was approved by the league, on the condition that the Yankees were an independent entity and not influenced by the network.

Including 1964, the Yankees had won 14 pennants and 9 World Series in the previous 16 seasons. The Yankees promptly became a second-division club and didn't win another pennant or division while under the stewardship of CBS.

At the beginning of of the 1973 season, the network sold the club to Steinbrenner, CBS Executive Michael Burke, and 10 other investors for $10 million. Steinbrenner's original share was only $168,000, or less than 2%. Steinbrenner forced Burke out the following year and gradually assumed majority ownership in the club. Today the club is worth an estimated $5 billion, more than any other American sports franchise, except the Dallas Cowboys.

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Tom Barrister

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โˆ™ 2021-05-28 01:00:30
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Ignacio Green

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โˆ™ 2021-05-28 08:05:56
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โˆ™ 2013-04-24 10:11:45

On January 3, 1973,*George Steinbrenner III with his minority partner E. Michael Burke bought the*New York Yankees Baseball team from*Columbia Broadcasting System (CBS) for $10 million US dollars. The New york Yankees are worth 1.6 billion US dollars as of 2010.

*George Michael Steinbrenner III died at 80 from a heart attack in his Florida home on July 13th 2010 .

*The New York Yankees are owned by Yankee Global Enterprises LLC (YES) .

* Columbia Broadcasting System was started on April of 1927 as a radio broadcaster station and first to have programing that stated at 3pm .

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Q: Who did George Steinbrenner purchase the New York Yankees from?
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Related questions

How much did George Steinbrenner pay for the New York Yankees?

In 1973, George Steinbrenner paid $10 million to purchase the Yankees from CBS.


When did George Steinbrenner purchase the New York Yankees?

1973


Which TV station did George Steinbrenner purchase the New York Yankees from?

In 1973, George Steinbrenner purchased the Yankees from CBS Broadcasting Inc.


What percentage of the New York Yankees did George Steinbrenner own?

George Steinbrenner owned approximately 55 percent of the New York Yankees.


How much did George Steinbrenner pay for the New York Yankees in 1973?

George Steinbrenner and partners paid $10,000,000 for the New York Yankees in 1973.


What year did George Steinbrenner buy the New York Yankees?

George Steinbrenner bought the New York Yankees from CBS on January 3, 1973.


Who was George Steinbrenner?

George Steinbrenner was the New York Yankees owner from 1973-2010.


When were the New York Yankees purchased?

George Steinbrenner, and partners purchased the New York Yankees for $10,000,000 in 1973.


How long did George Steinbrenner own the New York Yankees?

George Steinbrenner was the Yankees principal owner and managing partner from January 3, 1973 to July 13, 2010.


What did George Steinbrenner pay for the New York Yankees?

George Steinbrenner and minority partner E. Michael Burke bought the Yankees for $10 million from CBS.


Who are the owners of the New York Yankees?

The Yankees are owned by Yankee Global Enterprises LLC. This is a company controlled by the Steinbrenner family. Hank & Hal Steinbrenner, sons of the late George M. Steinbrenner III, are co-owners of the New York Yankees. On November 20, 2008, MLB approved the shift of control of the Yankees from George to his sons.George M. Steinbrenner III passed away on July 13, 2010.


Who owned the New York Yankees in 1977?

In 1977, George Steinbrenner owned the New York Yankees.


How much ownership of the New York Yankees did George Steinbrenner have initially?

51%


When did Brian Cashman and George Steinbrenner buy the New York Yankees?

George Steinbrenner purchased the New York Yankees in 1973.Brian Cashman has never been an owner. He is currently the Yankees General Manager and Senior Vice President.


How many championships did the New York Yankees win with George Steinbrenner?

The Yankees won seven championships under the ownership of George Steinbrenner. They won in 1977, 1978, 1996, 1998, 1999, 2000, and 2009.


Did CBS own the New York Yankees before George Steinbrenner?

Yes, they did. CBS owned the Yankees from August 13, 1964 up until January 3, 1973, when George Steinbrenner and E. Michael Burke purchased them.


Is George Steinbrenner still alive?

No. George Steinbrenner, owner of the New York Yankees, died Tuesday, July 13, 2010, of a massive heart attack. He was 80 years old.


What was George Steinbrenner's yearly salary?

The Forbes 400 List published in September 2009 listed New York Yankees owner George Steinbrenner's net worth at $1.15 billion.


How many times has George Steinbrenner won the World Series with the New York Yankees?

George Steinbrenner has won 7 World Series championships with the Yankees. They were in 1977, 1978, 1996, 1998, 1999, 2000 and 2009.


Where do the New York Yankees hold spring training?

George M. Steinbrenner Field in Tampa, Florida.


Where do the New York Yankees play their preseason games?

The Yankees play their preseason games at George M. Steinbrenner Field in Tampa, Florida.


Who is the new owner of the New York Yankees?

Hal Steinbrenner and Hank Steinbrenner


How much did George Steinbrenner pay for the New York Yankees team?

Steinbrenner, a minority partner and a group of investors bought the Yankees from CBS for $10 million in 1973. The team is now valued in the neighborhood of $1.2 billion.


Did George Steinbrenner own any sports franchises other than the New York Yankees?

George Steinbrenner was an owner of the Cleveland Pipers from 1961-1962. This was a team that played in the short-lived American Basketball League.


Who owns the New York Yankees now that George Steinbrenner passed away?

His sons, Hal and Hank Steinbrenner own the team.