George Steinbrenner bankrupted a team
Before Steinbrenner made a name for himself when he acquired ownership of the New York Yankees, he owned a small basketball team called the Cleveland Pipers back in 1960. By 1962, as a result of Steinbrenner’s direction, the entire franchise went bankrupt.
That stretch of failure seemed to follow Steinbrenner when he took over the Yankees in the 1970s, as the team struggled with a number of setbacks and losses throughout the 1980s and 1990s. However, despite public fear and criticism of Steinbrenner’s controversial decisions, eventually, he led the team to an amazing comeback, with six World Series entries between 1996 and 2003, and a record as one of the most profitable teams in Major League Baseball.
The Steinbrenner family lived a comfortable, upper-middle class lifestyle in Cleveland, thanks to Henry's job as the head of Kinsman Marine Transit Company, which managed shipping freighters in the Midwest. Yet George never coasted on his family's money. Instead of allowance, George's father paid him in chickens. At the age of 9, George started the George Company, and sold eggs door to door. Within five years, the successful business became the S & J Company, which he passed on to his sisters Susan and Judy when he headed to Culver Military Academy in 1944.
After graduating from Culver, Steinbrenner attended Williams College in Massachusetts. While he didn't quite excel academically, Steinbrenner followed in his father's footsteps as a track and field star. He also served as the sports editor of the paper, played in the band, and ran the glee club. He earned his bachelor's degree in English in 1952, and headed to the military shortly after.
Steinbrenner entered the United States Air Force, where he landed an assignment in his home state of Ohio, at Lockbourne Air Force Base. As a second lieutenant, he headed the sports program at Lockbourne and set up a coffee stand business that grew to six pick-up trucks.
That stretch of failure seemed to follow Steinbrenner when he took over the Yankees in the 1970s, as the team struggled with a number of setbacks and losses throughout the 1980s and 1990s. However, despite public fear and criticism of Steinbrenner’s controversial decisions, eventually, he led the team to an amazing comeback, with six World Series entries between 1996 and 2003, and a record as one of the most profitable teams in Major League Baseball.
The Steinbrenner family lived a comfortable, upper-middle class lifestyle in Cleveland, thanks to Henry's job as the head of Kinsman Marine Transit Company, which managed shipping freighters in the Midwest. Yet George never coasted on his family's money. Instead of allowance, George's father paid him in chickens. At the age of 9, George started the George Company, and sold eggs door to door. Within five years, the successful business became the S & J Company, which he passed on to his sisters Susan and Judy when he headed to Culver Military Academy in 1944.
After graduating from Culver, Steinbrenner attended Williams College in Massachusetts. While he didn't quite excel academically, Steinbrenner followed in his father's footsteps as a track and field star. He also served as the sports editor of the paper, played in the band, and ran the glee club. He earned his bachelor's degree in English in 1952, and headed to the military shortly after.
Steinbrenner entered the United States Air Force, where he landed an assignment in his home state of Ohio, at Lockbourne Air Force Base. As a second lieutenant, he headed the sports program at Lockbourne and set up a coffee stand business that grew to six pick-up trucks.
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