In January 1903 with the acquisition of redundant Baltimore Orioles by Frank Farrell and Bill Devery for $18,000, the team moved to Manhattan. Frank Farrell and Bill Devery enjoyed an influential status with a strong financial backup due to their acquaintances into city politics and gambling. In 1903, the club received the affiliation of the Eastern Division of the American League and became a professional baseball team with its basis in the Bronx, New York City. In the beginning the Yankees became the tenants of the “Hilltop Park” located at 168th Street and Broadway in Manhattan. Since the site was at a great height the club became known as the "Highlanders.” Griffith became the first manager of the Highlanders. "Wee Willie" Keeler became the leading player of the club who was adroit in at laying down a bunt, chopping the ball into the ground to beat it out for an infield hit, performing the suicide squeeze, and parlaying the double steal.

But this didn’t help them to create a niche for themselves in the world of baseball. After scrutinizing their shortcomings the Yankees decided to adopt a new name and a new manager for their team. At that time Arthur Norman Elberfeld took hold of the executive duties. The following year the “Highlanders” became the renowned New York Yankees.

 Babe Ruth in his opening season multiplied the attendance of fans to 1.3 million. Ruth’s luck also helped the Yankees to construct their own home ballpark at 161st St. and River Avenue in the Bronx, which also became known as "The House that Ruth Built." From 1921 to 1928 the Yankees the Yankees conquered six American League pennants and three World Series. Yankees line-up of 1927 became known as Murderers' Row”. In the 1930s, Joseph Paul DiMaggio emerged as a dynamic performer of the Yankees. Mickey Mantle substituted DiMaggio, Yogi Berra, Johnny Mize, and Phil Rizzuto in 1950. The Yankees owe their success to Stengel's use of platooning and his ability to get the most out of average. Following the 1964 season, CBS took the possession of the team and for two decades nurture it. In 1973, the team became George Steinbrenner’s acquisition.  He completely focused on the success of the club and took the team to new heights. In the 1990s the Yankees entered the decade as a last-place team. But with the rustication of Steinbrenner the Yankees luck became bright. They fetched the best record in the AL in 1994. The 1998-2000 Yankees became the first team after the Oakland Athletics to "three-peat" with World Series victories and the last MLB club to win consecutive Fall Classic title. The current line up of the Yankees features Jason Giambi, Hideki Matsui, Gary Sheffield, Kevin Brown, Alex Rodriguez and Javier Vazquez.

It is to be noted that the team has won 26 World Series titles in 39 appearances and is the highest paid team in MLB.