New York Yankees
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A syndicate led by entrepreneurs Frank Farrell and Bill Devery purchased the defunct Baltimore Orioles of the American League (AL) in Major League Baseball (MLB) for $18,000 in 1903 and then moved the team from there to Manhattan, a large borough of New York City. After this New York baseball franchise was approved to compete as a member of the AL, the team played its home games in a hastily constructed, all-wood 15,000-seat facility between 165th and 168th Streets and Broadway named Hilltop Park. Because the site was one of the highest places in Manhattan, the club became known as the New York Highlanders.