Sept. 28 (Bloomberg) -- George Steinbrenner's younger son Hal was named chairman of the company that owns the New York Yankees, a possible sign of who will be the next boss of the Major League Baseball team.

Hal Steinbrenner, one of four children in the family, was promoted from executive vice president and treasurer of Yankees Global Enterprises LLC, the holding company for the team and the Yankees Entertainment & Sports Network.

He replaces Steve Swindal, who is getting a divorce from Steinbrenner's daughter Jennifer. Steinbrenner said two years ago that Swindal would one day take over the team.

George Steinbrenner, 77, hasn't formally named a successor since Jennifer filed for divorce in March. He did say that the franchise would stay in the family. Sons Hal, 38, and Hank, 49, had been mentioned as possible candidates, with each taking on a larger role with the organization.

Steinbrenner spokesman Howard Rubenstein declined to comment on Hal Steinbrenner's role as a possible successor to his father. He said Swindal relinquished his positions with the Yankees as part of a settlement.

The Yankees are the most valuable baseball team at $1.2 billion, according to the annual survey in Forbes magazine. The franchise is moving into a new $955 million ballpark in 2009 and Yankee Stadium, built in 1923, will host the All-Star Game in its final season next year.

Yankee Brand

George Steinbrenner bought the Yankees for $10 million in 1973 and turned the franchise into a worldwide brand by luring marquee players with blockbuster contracts and winning championships. New York has won six World Series under his ownership to bring the organization's record total to 26.

The Yankees clinched their 13th straight playoff berth two days ago by capturing at least the wild card entry into the postseason. The team hasn't won the World Series since 2000.

Steinbrenner started the YES network in 2001 and it's now worth more than $2 billion. The club has led baseball in attendance since 2003 and tied a record this season by selling more than 4 million tickets for the third straight year.

Steinbrenner, who earned the nickname ``the Boss'' for his habit of firing employees, has mellowed since fainting at a memorial service in 2003. He further cut down his public appearances after falling ill during his granddaughter's play last October.

Filling In

Swindal had stepped in for Steinbrenner, and more recently Hal Steinbrenner spoke at a July press conference at Yankee Stadium about the All-Star Game.

Hal is chief executive of Steinbrenner Hotel Properties. He graduated from Williams College and got his Masters in business administration from the University of Florida. Hank Steinbrenner has worked on the family horse farm, Kinsman Stable, in Ocala, Florida.

Felix Lopez, who's married to Steinbrenner's daughter Jessica and is a Yankees senior vice president, was named to the board of directors of Yankees Global Enterprises.

To contact the reporter on this story: Danielle Sessa in New York at dsessa@bloomberg.net

Last Updated: September 28, 2007 14:54 EDT