Yankee ownership passes down line

Published 6:43 am Friday, November 21, 2008

NEW YORK – For more than three decades, George Steinbrenner’s imprints were all over the New York Yankees.

Blockbuster trades, pricey signings, hirings, firings – they all needed his OK.

Most Popular

No more.

The omnipresent owner’s colorful 35-year reign of pronouncements, threats and bluster ended Thursday when he passed control of baseball’s most famous and successful franchise to his youngest son, Hal.

“I realize it’s a great responsibility,” said Hal Steinbrenner, who turns 40 on Dec. 3. “My dad is, needless to say, a tough act to follow.”

The elder Steinbrenner has gradually withdrawn from the Yankees’ day-to-day operations in recent years as his health faded, and brothers Hal and Hank were appointed co-chairmen in April.

George Steinbrenner, now 78, headed a group that bought the club in January 1973 for an $8.7 million net price and became one of the most high-profile owners in all of sports. He dominated the back pages of New York’s tabloids, earning the nickname “The Boss” as he spent lavishly on players and changed managers 20 times during his first 23 years as owner, feuding with Billy Martin, Yogi Berra and Dave Winfield.

The Yankees regained their former glory, winning six World Series titles and 10 American League pennants from 1976-2003. They also transformed themselves into a sports empire that owns a cable television network and food concession company and is preparing to move into a $1.3 billion new Yankee Stadium next year.

Marketplace