July 14, 2010

The Face Of The Modern Day Owner Is Gone

By F.W. Holcombe Theres no substitute for victory - General Douglas MacArthur George Steinbrenner, long time owner of the New York Yankees who passed away this week at the age of 80, thought so highly of the 5-star general and this quotation that he had it posted in the Yankee clubhouse. He was impulsive, a persistent meddler, some might say tyrannical, and more often than not misunderstood. He didnt always operate within the connes of legality, routinely micro-managed the team from the owners box, and sometimes made ill-advised trades much to the anguish of New Yorks fan base (i.e. Jay Buhner for Ken Phelps). Steinbrenner may never make it to Cooperstown (although he should), but if there were a Free Market, Laissez-Faire Capitalism Hall of Fame he would be a rst ballot entry. After making his initial fortune shipping freight across the Great Lakes, he moved on to purchasing thoroughbred race horses before discovering what would become his true passion; that of running a baseball team. Following an unsuccessful attempt to buy the Cleveland Indians, Steinbrenner purchased the most storied baseball franchise in history for $8.9 million in 1973. Seven World Series Championships later the Yankees are still baseballs most storied franchise, worth an estimated $16.1 billion today. His associates called him The Boss. Former baseball commissioner Bowie Kuhn once described him as the Titanic searching for an iceberg. Love him or hate him, you cant deny his presence in Major League Baseball over the past 30 years. Its not as if there havent been colorful, unconventional owners over the years. In 1951 St. Louis Browns proprietor Bill Veeck signed and sent to bat a 37 midget (Eddie Gaedel), telling his vertically-challenged player if you so much as look as if youre going to swing, Im going to shoot you dead. Charles Finley, owner of the Kansas City/Oakland As from 1960-80, was such a miser and tyrant in his treatment of players, managers, and employees that radio play-by-play announcer Jimmy Piersall once described their relationship as follows: If I (Piersall) saw him walking down the street and one of his eyeballs popped out, I would kick it down the street. While they all were a bit huckster, while possessing the showmanship and promotional genius of P.T. Barnum, what set Steinbrenner apart from the others was that he never hesitated pulling out his checkbook to pay whatever it took to win.

Steinbrenner understood from the get go the importance of star-power and how marquee players put fans in the seats. Hes been accused of single handedly driving player salaries through the roof, the powder keg that produced a sport in which a utility inelder makes more money than the President of the United States. That monetary explosion would have occurred with or without George Steinbrenner; he simply hopped on the economic long-board and rode the wave. The quintessential capitalist, he even proted from rifts that had developed with his players and managers. One day youre reading about a feud between Steinbrenner and manager Billy Martin or Steinbrenner and superstar shortstop Derek Jeter; the next week theyre playing out their differences in a television commercial, laughing at his critics all the way to the bank. Maybe Steinbrenner did place abnormally high expectations on his players and seemingly unbearable pressure on his managers (He once asked Joe Torre if a team had ever gone undefeated over a 162-game season). But who among us doesnt want the most value for their buck? I dont mind spending $35 for a good steak on occasion, but for that price I want to be briefed on the cows family history and once that rst bite falls off my fork I expect my tongue to spin and my stomach to start break dancing. He might not have fully understood or appreciated the difculty of excelling in a sport where a 30% success rate puts you on the All-Star team. What The Boss did know was how to run a prosperous business. How can you fault someone for trying to maximize returns on their investments? Even in death he might still be the face of the modern day professional sports owner. Baseball has always welcomed, embraced, even thrived upon the most eccentric of personalities. George Steinbrenner certainly t that category and will be missed. (F.W. Holcombe is a nationally syndicated columnist whose work has appeared in over ve publications...but that number is growing so stay tuned.) ****************************************************************************************************