The New York Yankees are an American professional baseball team based in the New York City borough of the Bronx. The Yankees compete in Major League Baseball (MLB) as a member club of the American League (AL) East division. They are one of two major league clubs based in New York City, the other is the National League (NL)'s New York Mets. The team was founded in 1903 when Frank Farrell and Bill Devery purchased the franchise rights to the defunct Baltimore Orioles (no relation to the current team of the same name) after it ceased operations and used them to establish the New York Highlanders. The Highlanders were officially renamed the New York Yankees in 1913.The team is owned by Yankee Global Enterprises, a limited liability company that is controlled by the family of the late George Steinbrenner, who purchased the team in 1973. Brian Cashman is the team's general manager, and Aaron Boone is the team's field manager. The team's home games were played at the original Yankee Stadium in the Bronx from 1923 to 1973 and from 1976 to 2008. In 1974 and 1975, the Yankees shared Shea Stadium with the Mets, in addition to the New York Jets and the New York Giants. In 2009, they moved into a new ballpark of the same name that was constructed adjacent to the previous facility, which was closed and demolished. The team is perennially among the leaders in MLB attendance.Arguably the most successful professional sports team in the United States and one of the most highly regarded, the Yankees have won 19 American League East Division titles, 40 American League pennants, and 27 World Series championships, all of which are MLB records. The team has won more titles than any other franchise in the four major North American sports leagues, after briefly trailing the NHL's Montreal Canadiens in the 1990s. The Yankees have had 44 players and 11 managers inducted into the National Baseball Hall of Fame, including many of the sport's most iconic figures in history such as Babe Ruth, Lou Gehrig, Joe DiMaggio, Mickey Mantle, Yogi Berra, and Whitey Ford; more recent inductees include Mariano Rivera, and Derek Jeter, who received the two highest vote percentages of all Hall of Fame members. According to Forbes, the Yankees are the second-highest valued sports franchise in the world, after the NFL's Dallas Cowboys, with an estimated value in 2022 of approximately $6 billion. The team has garnered enormous popularity and a dedicated fanbase, as well as widespread enmity from fans of other MLB teams. The team's rivalry with the Boston Red Sox is one of the most well-known rivalries in North American sports.From 1903 through the 2021 season, the Yankees' overall winloss record is 10,5037,937 (a .570 winning percentage).

George Herman "Babe" Ruth Jr. (February 6, 1895 – August 16, 1948) was an American professional baseball player whose career in Major League Baseball (MLB) spanned 22 seasons, from 1914 through 1935. Nicknamed "The Bambino" and "The Sultan of Swat", he began his MLB career as a star left-handed pitcher for the Boston Red Sox, but achieved his greatest fame as a slugging outfielder for the New York Yankees. Ruth is regarded as one of the greatest sports heroes in American culture and is considered by many to be the greatest baseball player of all time. In 1936, Ruth was elected into the Baseball Hall of Fame as one of its "first five" inaugural members.

At age seven, Ruth was sent to St. Mary's Industrial School for Boys, a reformatory where he was mentored by Brother Matthias Boutlier of the Xaverian Brothers, the school's disciplinarian and a capable baseball player. In 1914, Ruth was signed to play minor-league baseball for the Baltimore Orioles but was soon sold to the Red Sox. By 1916, he had built a reputation as an outstanding pitcher who sometimes hit long home runs, a feat unusual for any player in the pre-1920 dead-ball era. Although Ruth twice won 23 games in a season as a pitcher and was a member of three World Series championship teams with the Red Sox, he wanted to play every day and was allowed to convert to an outfielder. With regular playing time, he broke the MLB single-season home run record in 1919.

After that season, Red Sox owner Harry Frazee sold Ruth to the Yankees amid controversy. The trade fueled Boston's subsequent 86-year championship drought and popularized the "Curse of the Bambino" superstition. In his 15 years with the Yankees, Ruth helped the team win seven American League (AL) pennants and four World Series championships. His big swing led to escalating home run totals that not only drew fans to the ballpark and boosted the sport's popularity but also helped usher in baseball's live-ball era, which evolved from a low-scoring game of strategy to a sport where the home run was a major factor. As part of the Yankees' vaunted "Murderers' Row" lineup of 1927, Ruth hit 60 home runs, which extended his MLB single-season record by a single home run. Ruth's last season with the Yankees was 1934; he retired from the game the following year, after a short stint with the Boston Braves. Throughout his career, Ruth led the AL in home runs during a season 12 times.

During Ruth's career, he was the target of intense press and public attention for his baseball exploits and off-field penchants for drinking and womanizing. After his retirement as a player, he was denied the opportunity to manage a major league club, most likely due to poor behavior during parts of his playing career. In his final years, Ruth made many public appearances, especially in support of American efforts in World War II. In 1946, he became ill with nasopharyngeal cancer and died from the disease two years later. Ruth remains a part of American culture, and in 2018 President Donald Trump posthumously awarded him the Presidential Medal of Freedom.