Book reveals how close Yankees were to moving out of Bronx, George Steinbrenner losing ownership bid George Steinbrenner’s group purchased the New York Yankees in 1973, but a Lehman Brothers-led contingent was initially favored and planned to move the team to New Jersey. This group also considered Willie Mays as a potential manager, which would have made him the first African American manager in MLB. Ultimately, Steinbrenner secured the team for just over $10 million, a price lower than the competing bid, and committed to keeping the Yankees in the Bronx.

• George Steinbrenner led a group to buy the New York Yankees in 1973.
• A Lehman Brothers-led group with Herman Franks was initially favored to buy the team.
• The competing group considered Willie Mays as a potential manager, making him the first African American manager.
• There were plans for the Yankees to move to a new stadium in New Jersey.
• Steinbrenner’s group purchased the Yankees for over $10 million, less than the competing bid.
• Steinbrenner committed to keeping the Yankees in the Bronx.
• The Yankees have won seven World Series titles since Steinbrenner’s ownership began.
• The Yankees are now valued at approximately $9 billion.