George Steinbrenner
From Hoopedia
George Michael Steinbrenner III (born July 4, 1930 in Rocky River, Ohio), often known as "The Boss" or "Mr. Steinbrenner", is a German-American billionaire businessman and the principal owner of Major League Baseball's New York Yankees. George graduated from Culver Military Academy and received his B.A. from Williams College. Afterwards he did post-graduate study at The Ohio State University (1954-55), where he met his wife, and served as a graduate assistant to legendary Buckeye football coach Woody Hayes.
Steinbrenner led a group of investors who bought the National Industrial Basketball League Cleveland Pipers in 1961 for $25,000. In 1961 the Pipers won the Amateur Athletic Union (AAU) national tournament.
The following year the team joined the newly formed American Basketball League (ABL) and won the championship. The league was started by Abe Saperstein and Paul Cohen in hopes of forcing their way into the NBA. The Pipers won the league championship in 1961-62, the ABL's only complete season.
In July 1962 the NBA announced that Cleveland would be joining the league as an expansion franchise at a cost of $400,000 (including a $100,000 indemnity to Cincinnati who held the NBA rights to Jerry Lucas). The ABL quickly filed a lawsuit blocking the Pipers from joining the established league. Steinbrenner and his partners could not raise the money. The team went bankrupt.
