George Steinbrenner, Legendary Yankee Owner, Dies at Age 80

George Steinbrenner, the legendary owner of the New York Yankees, who built perhaps the most well-known sports franchise in the world, has died at the age of 80.

According to reports, Steinbrenner suffered a heart attack and died on Tuesday in Tampa, Florida.

George Steinbrenner owned the Yankees for 37 years, from 1973 until his death, and is infamous for increasing player salaries.

His hand was also evident in establishing the right of players as free agents, giving them the choice to change teams according to the contracts offered. All business.

His approach to baseball earned him the nickname “The Boss.”

He was also influential in changing the media business of baseball, as Steinbrenner was the first owner of a Major League Baseball betting team to sell cable TV rights to cover the team.

The Yankees are the most expensive sports team in this history of America, with a payroll of $208 million in 2005.

According to Forbes, the estimated value of the Yankees in 2010 is $1.6 billion. Steinbrenner was quite the businessman.

Under his leadership, New York won 11 pennants and 7 World Series titles.

Since 2006, Steinbrenner has stepped out of the Yankee spotlight, leaving the team to be run by his sons, Hank and Hal Steinbrenner.

Ironically, Steinbrenner died on the morning of the 2010 Major League Baseball All-Star Game.