"As I said at the meeting, I appreciate the confidence that Commissioner Selig and the rest of the owners have in me. I realize it's a great responsibility. Needless to say, my dad is a tough act to follow. But I'm going to do it to the best of my ability and give it my all every day. I certainly won't make light of the magnitude of it."

"He's (George Steinbrenner) been slowing down for the last couple of years. For the last two years, I've been intimately involved with all departments and all aspects of the company. It's what I've been doing day-to-day. My duties really aren't going to change, and my work days really aren't going to change much. It's as much a procedural thing within the family, at this point."

"I think Hal is a little shy about this, but the last few years he's been in New York every single week," said Yankees president . "He's on top of everything. George (Steinbrenner) is still going to be involved. This is really a codification -- with the Commissioner's help and input -- of what's been going on the last several years." - Randy Levine