The New York Yankees are a professional baseball team based in the borough of the Bronx, in New York City, New York and are a member of Major League Baseball's American League East Division. One of the American League's eight charter franchises, the club was founded in Baltimore, Maryland in 1901 as the Baltimore Orioles, and moved to New York City in 1903, becoming known as the New York Highlanders before being officially renamed the "Yankees" in 1913. From 1923 to 2008, the Yankees' home ballpark was Yankee Stadium, one of the world's most famous sports venues. In 2009, they moved into a new stadium, also called "Yankee Stadium".
The franchise leads Major League Baseball in both revenue and titles, with 26 World Series championships and 40 American League Pennants. They have more championships than any other franchise in North American professional sports history, passing the 24 Stanley Cup championships by the Montreal Canadiens in 1999. Throughout the team's history, the franchise has produced some of the most celebrated players in Major League history, including Babe Ruth, Lou Gehrig, Joe DiMaggio, Mickey Mantle, and Yogi Berra. The franchise has seen 44 of its players inducted into the Baseball Hall of Fame, and the Yankees have retired the numbers of 16 of its players.
The Yankees have achieved widespread popularity and a dedicated fanbase, although they have acquired a polarizing reputation for their heavy spending in pursuit of winning. Their rivalry with the Boston Red Sox is one of the fiercest and most historic in North American professional sports. To support the Yankees and expand their media coverage, the dedicated television channel YES Network was launched in 2002, and it has become a large source of revenue for the franchise.