newjerseynewsroom.com

BY EVAN WEINER

NEWJERSEYNEWSROOM.COM

THE BUSINESS AND POLITICS OF SPORT

On Friday, the New York Yankees home portion of the 2012 season begins in the Bronx as it has every year since 1923, except for two years in Queens in 1974 and 1975. All of pomp and circumstances, the Yankees traditions will be played out in a three year old stadium in the south Bronx. But all of those Yankees home openers could have been played somewhere, probably the Meadowlands sports complex in East Rutherford starting in 1976, had one time New Jersey State Senator Farleigh S. Dickinson, Jr. decided to go ahead and buy the Yankees from William Paley and CBS in 1972-73.

On November 2, 1964, Paley and the Columbia Broadcasting System purchased 80 percent of the franchise from Dan Topping and Del Webb for $11.2 million — which in those days was a huge money deal. But a little more than eight years later, CBS got out of the baseball business and sold the team to a group led by George M. Steinbrenner III for significantly less money when adjusted for inflation and 1973 money value.

The Steinbrenner group paid about $10 million for the Yankees, but in reality it was less after tax credits and a parking lot was thrown into the deal.

CBS claimed to be losing millions of dollars running the Yankees. CBS also could not place Yankees telecasts on the network's owned and operated Channel 2 WCBS-TV because of Federal Communication Commission rules involving network ownership and properties. Steinbrenner wasn't looking to buy into the Yankees and only turned his attention to the franchise after he could not buy into his hometown Cleveland Indians.

Dickinson was a very serious contender to buy the team. He apparently offered the most money but something happened.

The CBS-Steinbrenner sale agreement was announced on January 3, 1973.