New York Yankees: Net Worth, Payroll, History, Roster, and More

Even non-New York Yankees fans would agree that there is nothing quite more American than the word ‘Yankee’. Legacy is too heavy a word to throw around casually, but the Bronx Bombers have a rich one. The franchise that took baseball by storm in the 20th century boasts an overwhelming number of 27 World Series, 40 American League Pennants, and 20 AL East Division titles, more than any other major league team.

Under the leadership of several owners, the Yankees’ tide of success has ebbed and flowed, yet they remain one of the most powerful sports franchises.

History

Before becoming the New York Yankees, the founding name of the Pinstripes was the Baltimore Orioles (not the current one). Finally, in 1903, thanks to the hard work of minor league owner Ban Johnson, The New York Highlanders came into existence at Hilltop Park. Often referred to as the Hilltoppers or Highlanders at first, it was Sports Editor Jim Price who is credited with coining the term ‘Yank’ or ‘Yankee’ around 1904. The reason was straightforward - he simply found it easier to fit it into newspaper headlines!

But it was when the move to Polo Grounds came in 1913 that the team officially became the New York Yankees, although their explosive success was still some years away. Sharing a ballpark with their early rivals, the New York Giants (now the San Francisco Giants), the team only saw a smattering of success.

With the efforts of Ban Johnson at the beginning of the 20th century, a proper AL team in the city of New York was established. But it wasn’t until 1921 that the club played its first World Series. When they started attracting more attention than their NL counterpart, the Giants, the then-Giants manager John McGraw grew displeased and demanded that the Yankees move.

And so was born Yankee Stadium, the House That Ruth Built, in the Bronx, right across the Harlem River from the Polo Grounds.

Why Are the Yankees the Greatest Team?

If one goes by the earliest years that MLB franchises came into existence, the Yankees don’t even rank in the top 10, yet they are the most famous. Why?

It is simply because of the players that proudly wore pinstripes on their backs. No other franchise can boast nicknames like “Murderer’s Row” from the roaring ‘20s, featuring names like Babe Ruth, Lou Gehrig, and Tony Lazzeri, or the modern-day “Core Four” - Derek Jeter, Mariano Rivera, Jorge Posada, and Andy Pettitte.

The Yankees did not win four consecutive Fall Classics from 1936 to 39 once, but they did it again from 1950 to 53. The sheer number of records that the Bronx Bombers broke, set their unequivocal place in history books, making them one of the greatest baseball teams of all time.

Why Are New Yorkers So Proud?

The City That Never Sleeps has innumerable things to be proud of, but at the forefront is the sport that built America’s culture - baseball. The Yankees consistently rank as one of the top sports teams in the entire world and their fanbase is equally popular for their unwavering loyalty and passion.

After all, the only team that comes even close to their astonishing 27 World Series victories is the St. Louis Cardinals, at 11. Their accomplishments simply outrank most other teams, so what is there not to be proud of?

Rivalry With Boston Red Sox

One of the most famous sports rivalries to ever exist, it has almost been a century since the Yankees and the Red Sox first clashed. But perhaps it can be said to have begun in 1949 when the Yankees defeated the BoSox in the last two days of the season, a largely surprising move.

But what had begun to sow seeds of early discord was the acquisition of Babe Ruth from the Red Sox in the 1920 detente era between the two teams, as well as the Chicago White Sox. The famous Curse of the Bambino lasted 86 years, ending in an incredible 2004 victory for the Red Sox, who overcame a 3-0 deficit. It was one of the last World Series played by Derek Jeter, although he was only in his second year as captain.

Aaron Judge: First Captain Since Derek Jeter

The decades of success came to an end in the late 1960s and early 70s, seeing a period of decline. The team was revived to its previous glory in the years of star shortstop Derek Jeter, who later served as captain from 2003 to 2014. Upon his retirement, the team did not find a suitable replacement until 2022, when Aaron Judge was crowned with the honor.

Judge has been a star player since debuting in the big leagues in 2016, with the occasional slump or injury period. Breaking Roger Maris’ AL single-season home run record last set in 1961 earned him a much-deserved MVP title. Apart from his playing skill, it is his leadership that makes him a special one.

2023 might have gone much the same way if an injury sustained at Dodger Stadium had not sidelined him. As it is, fans have several people to blame for the recent decline in performance, most of all the front office and owners.

Why Do Fans Miss George Steinbrenner and Hate His Son, Hal?

III’s era was a defining generation in Yankee history. The Boss had a reputation for prioritizing winning over anything, and for all his faults, Bronx fans could appreciate that. Papa Steinbrenner manned the ship with tight reins, enforcing strict grooming policies and constantly firing and rehiring managers and coaches.

And yet, fans miss the days his brash and outspoken nature got him into trouble and even earned him a suspension from the league because it meant he oversaw everything. Keeping the team in the Steinbrenner family had seemed like a good idea, but his sons Hank and Hal have not done much to bring the Yankees out of a steep decline. Where George Steinbrenner boasted of the franchise as one would with a beloved child, there is no such shared sentiment within Hal Steinbrenner.

Unlike his father, the son is more focused on the team’s finances than success. "I'm a finance geek. I guess I always have been," Hal told the Daily News in 2012. "That's my background; budgets matter and balance sheets matter. I just feel that if you do well on the player development side and you have a good farm system, you don't need a $220 million payroll. You can field every bit as good a team with young talent."

Well, it’s no wonder fans miss the days of The Boss.

Are the Yankees Doing Justice to Their Massive Payroll?

Unfortunately, no! It was George Steinbrenner who was vocal about increasing the numbers on his players’ paychecks. Thanks to his efforts, the Yankees rank among the top three teams with the highest payrolls in MLB. But regrettably, their current position is at the bottom of the AL East.

In one of the worst seasons in recent years, the Yankees’ offensive production has taken a massive hit with almost no signs of improvement. Despite this failure, though, there have been some notable victories by notable names throughout the years.

Legends Produced:

The man that brought the Yankees to the global stage was Babe Ruth. The Sultan of Swat single-handedly doubled the numbers at the new Yankee Stadium in 1923, with news of his home runs spreading far and wide.

Continuing the pinstripes’ legacy, Lou Gehrig was a beloved member of the team, the pride of the Yankees. His hitting abilities earned him the nickname ‘The Iron Horse’, but fans lost him too early to ALS.

Soon after Ruth retired, Joe DiMaggio burst onto the scene playing like a seasoned professional right from his rookie year. His 56-game hitting streak set in 1941 remains MLB’s longest record to this day.

Mickey Mantle was another young talent, who, although had some struggles at first, ended up as one of the greatest switch hitters of all time. Not only that, but Mantle consistently hit tape-measure home runs, establishing a reputation as one of MLB’s best sluggers.

His teammates Whitey Ford and Yogi Berra earned a reputation of their own and are regarded among Yankee legends of the 20th century.

Following them into fame was Roger Maris, who of course set his 1961 home run record at 61, surpassing Babe Ruth’s 60. Along with Mickey Mantle, the duo was known as the ‘M&M’ boys for their moonshots.

In a period of decline, Thurman Munson was the sole shining star in the late 60s and early 70s, although the former Yankees captain lost his life in an airplane crash in 1979. It was a dark day for the team and followed a lackluster year of Bronx baseball.

Although Hall of Famer Reggie Jackson achieved legendary status, his controversial remarks about the team often alienated him from the fanbase.

The tail end of the 20th century saw Don Mattingly as one of the most distinguished hitters in baseball, although he famously never won a World Series in his 14-year career.

A few names gained recognition here and there at the beginning of the 21st century, but the ones who are still regarded as icons are Derek Jeter and Mariano Rivera. The two players have the highest percentages of being voted into Cooperstown, with Mo’s election being unanimous and Jeter following a few votes behind.

It was a golden age for the Yankees, with Alex Rodriguez and Bernie Williams contributing to immense team success, but the current roster seems a bit lackluster.

Yankees' Current Roster:

Pitchers -

1. Albert Abreu
2. Gerrit Cole
3. Domingo German
4. Ian Hamilton
5. Clay Holmes
6. Tommy Kahnle
7. Michael King
8. Ron Marinaccio
9. Wandy Peralta
10. Nick Ramirez
11. Carlos Rodon
12. Clarke Schmidt
13. Luis Severino

Catchers - 

1. Kyle Higashioka
2. Ben Rortvedt

Infielders - 

1. DJ LeMahieu
2. Anthony Rizzo
3. Gleyber Torres
4. Anthony Volpe

Outfielders -

1. Aaron Judge
2. Harrison Bader
3. Jake Bauers
4. Aaron Judge
5. Isiah Kiner-Falefa
6. Billy McKinney
7. Greg Allen

Designated Hitters -

1. Giancarlo Stanton

Yanks’ Rise to 'Become the Best' and Downfall to 'Become the Worst'

Every empire that has risen will fall, and so it would stand for the Yankees. Babe Ruth’s arrival in the Bronx from Boston shook things up, heralding not only a new era of the Pinstripes but baseball itself. Even after Ruth left, the franchise continued its upward trajectory until the 1970s, eventually falling into despair.

With a few victories here and there, the arrival of Derek Jeter on the scene in 1995 was a major watershed moment. The very next year, the Yankees broke an 18-year World Series title drought record, entering a new era. However, the team is set on another long era of no silverware, with the last one won in 2009. 2023 will most likely not be the year that they turn things around.

Injuries That Hurt Them in 2023

The biggest injury that has hurt the Yankees is, of course, Aaron Judge’s toe injury, with fans still unsure of his return date. Giancarlo Stanton and Carlos Rodon started the season on the IL, but even after their return, the Yankees do not seem to be pulling up through the ranks.

Harrison Bader, a powerful defensive presence whenever he’s on the field, seems to go back and forth from the list as well. With Jose Trevino out for the season and Nestor Cortes out until August, it will only be more of a struggle.

There is also Josh Donaldson on another IL trip, but fans have stopped concerning themselves with his moves.

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