On This Date 1/3/1973
George Steinbrenner becomes the new owner of the New York Yankees. The 42-year-old shipbuilder from Cleveland leads a group that buys the Yankees from CBS for $10 million. Steinbrenner had tried a year earlier to buy the Cleveland Indians. The Yankees were a dynasty in decline as the CBS ownership saw dark days in the Bronx as the Yankees after 29 pennants in 44 years as they went through an eight-year period of mediocrity.