View Full Version : Steinbrenner Trivia.
12-04-01, 06:21 PM
How much money did George put up for a controllong interest in the N.Y Yankees in 1972?
Which company did the Steinbrenner group buy the team from?
Who was the Pres of The Yankees at the Time the team was purchased?
12-04-01, 07:52 PM
I'm not sure of the money but will guess it was in the twenty million range. I believe Mike Burke a WWII hero was the president at CBS which owned the Yankees at the time. I also believe that Ralph Houk was still the Yankee manager.:NY: :NY: :NY: :NY: :lol:
12-04-01, 08:09 PM
George put up 10 million, some investment, the best he ever made.
George was also pres of American Shipbuilding a company that went bust.I for one am sure glad he bought the Yankees. Under CBS the Yankee organization went to pot. Mike Burke was a nice guy but the farm system at that time was full of weeds. The old Major Ralph Houk was the mgr, also a war hero in the Rangers in WW 11.
12-04-01, 08:40 PM
George didn't even put up the $10M it cost him:
An investor group assembled by Steinbrenner bought the Yankees from CBS for $10 million--$6 million of it borrowed. The Boss put up only $168,000 of the original $4 million in equity but has since sunk millions more into the club to buy out limited partners. With his wife, Steinbrenner now holds at least a 60% stake and sits atop what is probably the biggest capital gain in sports.
This is from a really interesting article from the 9/28/98 issue of Business Week:
Of course the income estimates are outdated because it's several years old, and you can only guess what they're worth now!
12-05-01, 08:04 AM
Whenever you talk dollar amounts from other eras, it only makes sense if you first adjust for inflation.
The link below is a very good on-line (and free) adjuster program that can convert into 2001 dollars.
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