Ruppert Purchased The Yankees For $480,000 In 1915

COOPERSTOWN, N.Y. (CBSNewYork/AP) — Former New York Yankees owner Jacob Ruppert has been inducted posthumously into the National Baseball Hall of Fame and Museum.

The ceremony took place Sunday. Ruppert, who died in 1939, was elected by the 16-member Pre-Integration Era Committee. Anne Vernon, a great grandniece of Ruppert, accepted the award for the family.

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Ruppert purchased the Yankees prior to the 1915 season for $480,000, then proceeded to transform what had been a perennial also-ran into a powerhouse of a team. He hired Miller Huggins as manager, then snared Babe Ruth in a lopsided 1919 trade with the Boston Red Sox, a deal that changed the dynamics of the sport.

Four years later, Ruppert had Yankee Stadium constructed and “The House That Ruth Built” became baseball’s mecca. Ruppert hired general manager Ed Barrow from the Red Sox in 1921, and together they won 10 AL pennants and seven World Series in 18 seasons.

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