This season is bad, but it has been worse.
The Yankees’ seasons while they were owned by CBS can be summarized as follows:
• The CBS ownership lasted from 1964 to 1972, during which the Yankees went through a decline in performance and attendance1.
• The Yankees had won 14 AL pennants and 10 World Series in the previous 16 seasons before CBS bought the club for $11.2 million21.
• The CBS era coincided with an unusual period in baseball history, when money meant the least and the amateur draft was introduced in 1965. The Yankees lost their advantage in acquiring the best talent and failed to adapt to the changing game.
• The Yankees finished sixth or lower in the AL standings in six of the eight seasons under CBS ownership, with a combined record of 636-649. They never reached the postseason or won more than 83 games in a season.
• The CBS era also saw the end of the careers of some of the Yankees’ legends, such as Mickey Mantle, Whitey Ford, and Yogi Berra. The team struggled to find new stars to replace them, although some promising players like Bobby Murcer, Roy White, and Thurman Munson emerged later.
• In 1973, CBS sold the franchise to a consortium led by George Steinbrenner for $10 million. Steinbrenner restored the Yankees’ glory by spending lavishly on free agents and trades, winning seven championships during his tenure.