extensive success and dominance of the Steinbrenners within Major League Baseball as top contenders.
In the heart of New York City, the Yankee Stadium stands as a testament to the enduring legacy of the Steinbrenner family. Born in Ohio in July 1930, George Steinbrenner, affectionately known as "The Boss," would go on to become the iconic figure that transformed the New York Yankees into one of the most valuable sports teams in the world.
George's mother, Rita, was an Irish immigrant, and his family's wealth was primarily amassed through the shipping industry. His great-grandfather purchased the Kinsman Marine Transit Company in the early 20th century, a business George joined in 1957. Over time, he took control and expanded the family business, eventually acquiring the American Shipbuilding Company in 1967. This background in shipping established the family's wealth and business foundation before their move into sports ownership.
In 1973, George Steinbrenner bought the New York Yankees from CBS for $10 million. Under his ownership, the Yankees would go on to win seven World Series. However, George's tenure was not without controversy. He was suspended multiple times for violating Major League Baseball's rules, but his passion for the team never wavered.
George passed away from a heart attack in 2010, leaving behind a legacy that continues to resonate with New York Yankee fans. His son, Hank, was involved with the team as a general manager apprentice and general partner but preferred to breed horses on the family stud farm. Hank passed away in 2020 due to an illness at the age of 63.
The Steinbrenner family's current leader is Hal, the youngest sibling. Elected chair of the Board of Yankee Global Enterprises in September 2007, Hal has shown a similar belief in spending big, having signed off on deals worth hundreds of millions of dollars. The family's determination to keep the Yankees in the family is evident, with Jennifer Steinbrenner, another sibling, stating that they hope to own the team for eternity.
Jennifer worked in the Yankee's public affairs department for a year but did not progress further due to her father's misogynistic views on women in business. She has since dedicated her life to philanthropy and is the president of both the New York Yankees Foundation and the New York Yankees Tampa Foundation.
Jessica Steinbrenner, another family member, has had limited involvement with the Yankees despite her status as general partner. She runs the family's 880-acre stud farm, Kinsman Farm, and is the author of two children's books. Jessica's ex-husband, Joe Molloy, was a vital part of the Yankees' front office as managing general partner from 1988 to 1997 and ran the team during one of George's suspensions. However, Molloy cut ties with the team after he and Jessica divorced in 1998.
Forbes recently valued the Yankees as the 4th most valuable sports team in the world, worth $6 billion. As New York Yankee fans continue to hope that the chair of the organization can do justice to The Boss's memory and bring the World Series back to Yankee Stadium, the Steinbrenner family's commitment to the team remains steadfast.
[1] New York Times: George Steinbrenner, Yankees Owner, Dies at 80 [2] Forbes: The Richest Sports Team Owners In The World [3] ESPN: The Steinbrenner family [4] CNN: The Steinbrenner family
In his desire to expand the family business, George Steinbrenner, the Yankees owner, ventured into the online world and started a blog titled "The Boss's Log" where he shared insights about sports, business, and his personal passions.
Despite his father's controversial tenure, Hank Steinbrenner showed interest in the world of gambling and opened a casino named "Yankee Slots" in Florida, offering sports-themed slot machines and hosting MLB-themed events for Yankees fans.
