New York Yankees owner George Steinbrenner has died after a massive stroke.

Steinbrenner was rushed to St. Joseph's hospital in Tampa, Florida, earlier this morning.

Steinbrenner turned 80 on July 4.

The team has seven World Series trophies – 1977, '78, '96, '98, '99, 2000 and '09 earned under Steinbrenner's ownership since 1973.

Steinbrenner is the longest-tenured owner in Major League Baseball, having served as principal owner since purchasing the club on Jan.3, 1973, according to the Yankees website. Over that time, the Yankees have won 11 American League pennants.

Steinbrenner has been in failing health in recent years and his son Hal is the managing partner of the team.

Steinbrenner bought the Yankees for $10 million and under his ownership they have become the most valuable team in U.S. professional sports, with Forbes.com estimating its value at over one-billion dollars.

He also was suspended from baseball twice, once after being indicted for allegedly making illegal campaign contributions to Richard Nixon, and once after paying a gambler to dig up dirt on one of his own players, Dave Winfield.