Hal Steinbrenner officially owns Yankees

Major League Baseball on Thursday officially approved the transfer of ownership of the New York Yankees from George Steinbrenner to his son Hal.

"It was unanimous [approval]," baseball commissioner Bud Selig told Newsday. "Hal comes to New York every week and has been very involved."

Hal Steinbrenner, 39, has been with the club in various front office positions for nearly two decades.

"My dad, needless to say, is a tough act to follow," he said.

The Yankees patriarch, 78, announced last fall he was ceding control of the club he has owned since 1973 to his two sons. Hal and brother Hank Steinbrenner were made co-chairmen of the team.

Hank Steinbrenner, 51, also helps run the family's thoroughbred operation in Florida and during the past season was the more outspoken of the two brothers.

Hal is responsible for financial operations of the club, and Hank oversees general manager Brian Cashman and the baseball operations.

The Yankees have reached 10 World Series since 1973, winning the championship six times.

The club will move into a new Yankee Stadium in April, across the street from the historic venue that's housed the team for decades.