How Much Did Steinbrenner Really Pay To Buy The Yankees? Unpacking A Legendary Deal

Prof. Dawson McLaughlin 16 Aug 2025

The New York Yankees, a name that pretty much everyone knows in sports, have a truly incredible story when you look at their financial journey. It’s a tale that starts with a rather modest sum and stretches all the way to billions upon billions of dollars today. This remarkable climb, from what was once a ten-million-dollar team to one now valued at five billion, or even more, is quite a spectacle, and it all began with a pivotal moment back in 1973. You might be wondering, just how much did George Steinbrenner, the legendary "Boss," actually pay to acquire this iconic baseball team? Well, the numbers are a bit more interesting than you might first think, involving a group of investors and some surprisingly small personal contributions from Steinbrenner himself.

It's fascinating to consider the financial beginnings of such a powerhouse franchise. The team's worth has grown in an almost unbelievable way over the many years since that initial acquisition. When George Steinbrenner and his group stepped in, they were making a deal that, in hindsight, would become one of the most talked-about acquisitions in sports history. The figures involved in that 1973 purchase, when compared to the team's current valuation, really highlight just how much things can change, and how a shrewd investment can truly pay off in the long run. So, let's unpack the details of that significant moment in baseball history.

Understanding the exact figures behind the Yankees' purchase is a bit like looking at different pieces of a puzzle, because there were a few numbers floating around that relate to the total sale price versus Steinbrenner's individual contribution. It's a story that involves a group of owners, a personal check, and a team that was, in some respects, seen as a bargain at the time. This initial investment, whatever the exact personal amount, set the stage for decades of dominance and an almost unparalleled increase in value, cementing the Yankees' place as one of the most valuable sports franchises anywhere.

George Steinbrenner: A Brief Profile
The 1973 Yankees Purchase: Unveiling the Numbers
George Steinbrenner's Personal Investment: A Closer Look
The Bargain of the Century and the Team's Meteoric Rise
The Steinbrenner Family Legacy and Current Ownership
Frequently Asked Questions About the Yankees Purchase

George Steinbrenner: A Brief Profile

George Steinbrenner was, by all accounts, a truly commanding figure in the world of sports. He was known for his rather bellicose attitude, a personality that certainly left an impression on many. Yet, under his ownership, the New York Yankees really transformed into one of baseball's most dominant teams, and they became one of the most valuable franchises in all of sports. He was a key investor when the New York Yankees were bought back in 1973, setting in motion a new era for the team. His impact was so significant that, even twelve years after his passing, the Yankees continue to hold a very prominent position in the sports landscape, being worth billions more than any other baseball team, which is quite a feat. He was, you know, often criticized, but his vision for the team was clearly impactful.

Personal Details and Bio Data

Name	George Steinbrenner
Role in Yankees Purchase	Lead Investor
Year of Yankees Purchase	1973
Team Acquired	New York Yankees
Current Family Ownership	Hal Steinbrenner (Chairman, took over in 2008 after George's death)
Other Family Financial Interests	Real estate, horse racing, automobile racing
Ownership Percentage (George Steinbrenner)	55 percent (at some point during his ownership)

The 1973 Yankees Purchase: Unveiling the Numbers

So, let's get right to the heart of the matter: how much was the New York Yankees team actually sold for in 1973? The information from "My text" indicates a couple of figures for the total sale price, which can be a little confusing at first glance. One piece of information states that George Steinbrenner and Michael Burke, along with other investors, announced their purchase of the New York Yankees for ten million dollars on January 4th, 1973. This figure, ten million dollars, is consistently mentioned as the overall price for the team when it was bought from CBS. It was, you know, a significant sum for a baseball team at that time, but almost nothing compared to today's values.

However, another piece of information from "My text" provides a slightly different total. It mentions that George Steinbrenner and his group of investors paid 8.7 million dollars to acquire the Yankees in 1973. This slight difference in the total acquisition price, between ten million and 8.7 million, might reflect different accounting methods or perhaps the final agreed-upon figure after some adjustments, though the text doesn't specify why there's a variation. What's clear is that the team was indeed sold for a sum in the single-digit millions, which is, honestly, a staggering thought when you consider their worth today. This lower figure, 8.7 million, is also presented as the acquisition cost for the group, making it a key number in this story.

The purchase was a collaborative effort, too, involving George Steinbrenner and a group of investors. The text mentions that the Yankees were sold to Mike Burke and George Steinbrenner III, along with ten other owners who were to be named later. This indicates that Steinbrenner was not the sole owner from day one, but rather the leading figure in a consortium. At a press conference held at Yankee Stadium, with Michael Burke presiding, the announcement of the purchase was made. This collective ownership structure is important to remember when we consider Steinbrenner's personal financial contribution to the deal, which was, in a way, quite small compared to the overall price tag.

George Steinbrenner's Personal Investment: A Closer Look

While the total sale price of the Yankees was either ten million dollars or 8.7 million dollars, George Steinbrenner's personal cash outlay for the purchase was, you know, surprisingly modest. "My text" provides a couple of figures for his individual contribution, which really puts the scale of the overall deal into perspective. One source indicates that Steinbrenner cut a personal check for just 168,000 dollars. This amount, 168,000 dollars, was his initial investment in the team's purchase. To give you some context, that 168,000 dollars in 1973 would be worth about 890,000 dollars in today's money, according to information referenced from the L.A. Times. That's still a substantial sum for an individual, but it's a very small piece of a multi-million-dollar acquisition.

To put that 168,000 dollar figure into even more perspective, it represented only about 1.9 percent of the total sale price. So, Steinbrenner, while leading the charge, contributed less than two percent of the overall money needed to buy the team. This really highlights the power of leveraged buyouts and group investments, where a smaller personal stake can control a much larger asset. It shows that he was, in fact, one of several investors, even if he was the most prominent one. This small percentage of the total cost is a detail that many find quite astonishing when they first learn about it.

There's another figure mentioned in "My text" for Steinbrenner's personal contribution, which is even lower. It states that George Steinbrenner bought the Yankees from CBS in 1973 for ten million dollars, using just 100,000 dollars of his own money. This hundred thousand dollar figure is even more striking, as it suggests an even smaller personal investment than the 168,000 dollars previously noted. The text doesn't clarify why there are two different figures for his personal contribution, but both point to a relatively small direct cash payment from Steinbrenner himself compared to the total cost of the team. Either way, it was, quite frankly, a brilliant move on his part.

It’s also important to remember that Steinbrenner owned 55 percent of the team at some point, which means he held a controlling interest. This ownership percentage is distinct from his initial cash investment, as it reflects the equity he held, likely through a combination of his initial payment and the collective financing structure of the investment group. The Crowns, for instance, owned between ten percent and twelve percent, showing that there were indeed multiple limited partners who, along with George Steinbrenner, owned the Yankees. This kind of arrangement is, you know, pretty typical for large-scale acquisitions, especially in sports.

The Bargain of the Century and the Team's Meteoric Rise

When George Steinbrenner and his group purchased the Yankees, it was viewed by many, including Steinbrenner himself, as a truly exceptional deal. The text quotes Steinbrenner conceding, "It's the best buy in sports today," referring to the Yankees, and adding, "I think it's a bargain." This perspective is quite telling, as it suggests that even at ten million dollars, the team was considered undervalued. To put this into context, the Los Angeles Rams football team had been sold the year prior for nineteen million dollars, which was a much higher price point for a sports franchise at that time. So, the Yankees' acquisition price seemed, you know, relatively low in comparison.

And what a bargain it turned out to be! George Steinbrenner, it's pretty clear, made what many would call "the deal of the century." He took a franchise that was, in a way, described as "moribund" – meaning it was in decline or lacking vitality – and transformed it into a dominant force. The team's value has, as "My text" states, grown insanely over the years. From that initial ten million dollars, the Yankees are now worth a staggering 5.25 billion dollars. That's an absolutely massive increase, reflecting decades of successful management, strategic decisions, and, of course, a lot of winning on the field.

The growth in value didn't stop there, either. Today, even twelve years after George Steinbrenner's passing, the Yankees are worth an astounding seven billion dollars, and this figure includes related business interests. This makes them two billion dollars more valuable than any other baseball team, which is a truly remarkable achievement. This incredible appreciation in value is a testament to the enduring legacy of the team and the foundation laid by Steinbrenner's ownership. It really shows how much a sports franchise can become a global brand, far exceeding its initial purchase price. This kind of growth is, honestly, quite rare to see.

The journey from a ten-million-dollar team to one worth five or even seven billion dollars is a vivid illustration of how sports franchises, particularly those with a rich history and strong fan base like the Yankees, can become incredibly valuable assets. Steinbrenner's initial decision to invest, even with a relatively small personal check, set the stage for this immense financial success. It’s almost like he saw something in the team that others might have overlooked at the time, and he acted on that vision. You can learn more about the history of sports team valuations on our site, and how they compare to other investments.

The Steinbrenner Family Legacy and Current Ownership

The Steinbrenner family has, as a matter of fact, maintained ownership of the New York Yankees since George Steinbrenner first purchased the franchise in 1973. This long-standing family ownership is a defining characteristic of the team's identity. After George's death, his son, Hal Steinbrenner, stepped into the role of chairman of the Yankees in 2008. This continuity in leadership has allowed the family to continue shaping the direction and legacy of the team, carrying on the traditions established by George. It's not every day you see a family maintain control of such a high-profile asset for so many decades.

Beyond their primary involvement with the Yankees, the Steinbrenner family also has financial interests in a few other areas, which is pretty interesting. "My text" mentions their involvement in real estate, horse racing, and automobile racing. This diversification of interests shows that their business acumen extends beyond just baseball, though the Yankees remain their most prominent and valuable asset. It's a testament to the family's broader financial influence and their ability to manage a diverse portfolio of businesses, which, you know, takes a certain kind of skill.

The question of "What percent of the Yankees do the Steinbrenners own?" is also touched upon in "My text." It clarifies that George Steinbrenner himself owned 55 percent of the team. This majority stake gave him significant control over the franchise's operations and decisions. The text also notes the existence of eighteen limited partners who, along with George Steinbrenner, owned the Yankees. This structure, where a majority owner leads a group of minority investors, is quite common in professional sports. For example, the Crowns owned between ten percent and twelve percent of the team, showing how the ownership was distributed among various parties.

The family's commitment to the Yankees has been unwavering, and the team's success, both on the field and financially, reflects that dedication. There's often curiosity about whether the Steinbrenners will ever sell the Yankees, but the current information suggests a strong commitment to continued family ownership. The immense value of the team today, as we've discussed, makes it an incredible asset for the family. This ongoing ownership ensures that the team's direction remains consistent with the vision established decades ago. You can find more details on this page about the ongoing management of the New York Yankees.

Frequently Asked Questions About the Yankees Purchase

How much did George Steinbrenner pay for the Yankees when he bought them?

George Steinbrenner and his group of investors paid either ten million dollars or 8.7 million dollars to acquire the New York Yankees in 1973. His personal financial contribution to this deal was surprisingly small, either 168,000 dollars or as little as 100,000 dollars, according to different accounts in "My text." This personal amount represented only a tiny fraction, about 1.9 percent, of the total sale price, which is pretty remarkable when you think about it.

What was the value of the Yankees when George Steinbrenner purchased them?

When George Steinbrenner and his group purchased the New York Yankees in 1973, the team was valued at either ten million dollars or 8.7 million dollars. At the time, Steinbrenner himself considered it a "bargain," especially when compared to other sports team sales from that period, like the Los Angeles Rams football team, which had sold for nineteen million dollars the previous year. It was, in a way, a very shrewd investment.

How much are the New York Yankees worth today?

The New York Yankees' value has grown immensely since George Steinbrenner's purchase. From an initial ten million dollars, the team is now worth 5.25 billion dollars. Furthermore, including related business interests, the Yankees are valued at seven billion dollars today, which is two billion dollars more than any other baseball team. This shows, very clearly, the incredible growth and enduring value of the franchise.

WFAN Host Bares Hal Steinbrenner' Anti-Yankee Business Model

How Much Did Steinbrenner Family Pay for New York Yankees in 1973? How

Steinbrenner focused on the Yankees, denies spending war with Cohen’s

Award Show Highlights

How Much Did Steinbrenner Really Pay To Buy The Yankees? Unpacking A Legendary Deal

Table of Contents