When Mr. Steinbrenner purchased the Yankees in 1973 for a paltry $10 million, the Yankees were a struggling franchise. Steinbrenner believed that a franchise that had captured 21 World Series Championships should be restored to glory. The restless Steinbrenner completely changed the culture of the Yankee brand. During his first 23 years as principal owner, Steinbrenner went through 20 different managers!
In addition to Mr. Steinbrenner's quick trigger with management, he had little time for players who couldn't produce for him.
Steinbrenner became a huge proponent of free agent acquisitions. Steinbrenner's first key free agent signing was pitcher Catfish Hunter. From that moment on, Steinbrenner went out each year and grabbed the market's best talent.
Some of his key signing included "Mr. October," Reggie Jackson, Rich "Goose" Gossage, Dave Winfield, Darryl Strawberry, Alex Rodriguez, and CC Sabathia. From 1978 to 2009, Steinbrenner collected seven World Series titles and a lengthy list of opposing team owners who hated his aggressive, military-esque demeanor.
Steinbrenner biggest achievement will be enjoyed by Yankee fans forever. Steinbrenner envisioned creating a television network solely devoted to the Yankee brand. That vision became a reality in 2002 when the YES network debuted. Goldman Sachs technically owns the YES Network, but the Yankee brand dominates the network's programming.
Without Mr. Steinbrenner's vision, it would not have been possible.
Currently, the Yankee brand is valued at over $1 billion. Not too bad for a $10 million investment.