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By Luke Mullins and Rob Silverblatt
George Steinbrenner went by a lot of names -- "The Boss" and "Patton in Pinstripes," just to name two -- but for those who value baseball from the business side, his most impressive epithet has little to do with his commanding personality. Notably, Steinbrenner, who died Tuesday, was one of the best buy-and-hold investors in recent memory.
In 1973, Steinbrenner purchased the
Owning a sports franchise, of course, is not always a profitable venture. But Steinbrenner, in a way that nobody before him
could, leveraged the brand name of the
Over the past several decades, there have been few owners whose personalities have rivaled Steinbrenner's and even fewer who have had such a transformative impact on the industry. Here's a look at five other owners who have changed the way that fans think about sports:
Jerry Jones,
As the owner of the iconic
Walter O'Malley,
While noted for serving as the Brooklyn Dodgers' legal counsel when Jackie Robinson debuted, O'Malley is famous for what he did as the team's owner. In 1958, he moved the
John Moores,
Although the
Dan Rooney,
In his more than 50 years with the
Wellington Mara,
Although Wellington Mara's ownership of the
George Steinbrenner, whose full name was George Michael Steinbrenner III, was a prominent American businessman and sports owner, best known as the principal owner and managing partner of the New York Yankees, a Major League Baseball (MLB) team. He played a significant role in shaping the modern sports landscape. Here are some key highlights from his life
Birth and Early Life
George Steinbrenner was born on July 4, 1930, in Rocky River, Ohio, USA.
He came from a family with a successful shipping business, and he inherited his family's wealth and business acumen.
Ownership of the New York Yankees
Steinbrenner is best known for his ownership of the New York Yankees, which began in 1973 when he and a group of investors purchased the team.
Under his ownership, the Yankees experienced a resurgence in the late 1970s and early 1980s, winning multiple World Series championships.
Controversial and Hands-On Approach
Steinbrenner was known for his hands-on and often controversial management style. He frequently made changes in the team's coaching staff, management, and player roster.
He was suspended from baseball twice, first in 1974 for illegal contributions to President Richard Nixon's re-election campaign and later in 1990 for his association with a gambler named Howard Spira.
Success with the Yankees
During Steinbrenner's ownership, the Yankees won numerous championships, including World Series titles in 1977, 1978, 1996, 1998, 1999, and 2000.
Steinbrenner was committed to fielding a winning team and investing in high-profile players.
Legacy
George Steinbrenner is remembered for his competitiveness, passion for baseball, and his role in turning the New York Yankees into a highly successful and valuable franchise.
He was inducted into the National Baseball Hall of Fame in 2010, posthumously.
Philanthropy
In addition to his sports involvement, Steinbrenner was involved in philanthropic activities. His family established the Silver Shield Foundation, which provides educational support to the children of police officers and firefighters killed in the line of duty.
Death
George Steinbrenner passed away on July 13, 2010, at the age of 80, in Tampa, Florida.
George Steinbrenner's impact on the New York Yankees and Major League Baseball as a whole was substantial. His ownership style, commitment to winning, and willingness to invest in the team made him a central figure in the world of sports ownership.
Available at Amazon.com:
The Psycho 100: Baseball's Most Outrageous Moments
© U.S. News & World Report
George Steinbrenner Helped Revolutionize Baseball