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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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3y ago

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More answers

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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Wiki User

11y ago
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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.

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Wiki User

11y ago
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In 1973, George Steinbrenner paid $10 million to purchase the Yankees from CBS.

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Wiki User

14y ago
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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.

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Wiki User

15y ago
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George Steinbrenner bought the New York Yankees from CBS on January 3, 1973.

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Wiki User

13y ago
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George Steinbrenner and partners paid $10,000,000 for the New York Yankees in 1973.

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Wiki User

15y ago
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George Steinbrenner and minority partner E. Michael Burke bought the Yankees for $10 million from CBS.

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Wiki User

15y ago
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George Steinbrenner was the Yankees principal owner and managing partner from January 3, 1973 to July 13, 2010.

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Wiki User

14y ago
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Columbia Broadcasting System

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