When the 1964 World Series ended, Yankees' owners Dan Topping and Del Webb sold 80% the team to CBS for $11.2 million, and two later CBS purchased the remaining 20%, putting Mike Burke in charge. It was a bad time for the Yankees and they never came close to winning anything until the George Steinbrenner era began when he relieved CBS of their investment for $12 million in 1973.
The Yankees outdistanced Baltimore by 10 ½ games and Boston by 15 ½ games to win the 1976 Eastern Division and then they won their first pennant since the "Phil Linz harmonica pennant" in 1964 when Chris Chambliss hit a home run off Mark Littell in the last of ninth to give the Yankees a 7-6 victory. The crowd swarmed onto the field and the Royals are still waiting for Chambliss to touch home plate. The Yankees were swept by Cincinnati in the World Series.
In 1977 the Yankees and Red Sox were beginning to compete for real again. In a close race, the Yankees finished 2 ½ games ahead of both Baltimore and Boston to win their second straight pennant and in the Reggie Jackson World Series, defeated the Dodgers in six games. Then came Bucky Dent's home run.
References:
http://espn.go.com/classic/biography/s/N...
http://www.baseball-reference.com/league...
Lipsyte, Robert. "Yankees Long Haul: It Starts Today." New York Times, March 9, 1967, p. 48.
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