New York Yankees Baseball Owner George Steinbrenner Dies at Age 80

George Steinbrenner, principal owner of the New York Yankees, died at the age of 80, his family confirmed in an e-mailed statement.

Television station WABC in New York said he was rushed to a hospital after suffering a “massive” heart attack.

Steinbrenner owned the team while it won seven of the team’s record 27 World Series titles. He bought the franchise with a group of investors for $10 million from CBS Corp. in 1973. Though his initial investment was $168,000, Steinbrenner bought out his partners over the years to become principal owner. In April, Forbes magazine valued the team at $1.6 billion, most in baseball.

His son, Hal Steinbrenner, was approved by Major League Baseball owners to become controlling owner in November 2008.

To contact the reporter on this story: Mason Levinson in New York at mlevinson@bloomberg.net.

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