New York Yankees 1996 2007

The New York Yankees 1996–2007 Derek Jeter

After the 1995 season, Steinbrenner replaced Showalter with Joe Torre. However, his calm demeanor proved to be a good fit, and his tenure was the longest under George Steinbrenner's ownership.

1996 saw the rise of three Yankees who would form the core of the team for years to come: rookie shortshop Derek Jeter, rookie catcher Jorge Posada, and second-year pitcher Mariano Rivera, who served as setup man in 1996 before becoming closer in 1997. Aided by these young players, the Yankees won their first AL East title in 15 years in 1996.

They defeated the Texas Rangers in the ALDS, and in the ALCS beat the Baltimore Orioles in five games, which included a notable fan interference by young Jeffrey Maier that was called as a home run for the Yankees. In the World Series the team rebounded from an 0–2 series deficit and defeated the defending champion Atlanta Braves, ending an 18-year championship drought. Jeter was named Rookie of the Year. In 1997, the Yankees lost the 1997 ALDS to the Cleveland Indians in five games. GM Bob Watson stepped down and was replaced by assistant GM Brian Cashman.

The 1998 Yankees are widely acknowledged to be one of the greatest teams in baseball history, compiling a then-AL record 114 regular season wins against just 48 losses and then sweeping the San Diego Padres in the 1998 World Series. Their 125 combined regular and postseason wins is an MLB single season record. On May 17, 1998, David Wells pitched a perfect game against the Minnesota Twins at Yankee Stadium. On July 18, 1999, which was "Yogi Berra Day" at the Stadium, David Cone pitched a perfect game against the Montreal Expos. The ALCS was the Yankees' first meeting with the Red Sox in a post-season series. The Yankees would go on to win the 1999 World Series giving the 1998–1999 Yankees a 22–3 record in six consecutive post-season series.

In 2000, the Yankees faced the crosstown rival New York Mets in the first Subway Series World Series since 1956. The Yankees won the series in 5 games, but a loss in Game 3 snapped their streak of World Series wins at 14, surpassing the club's previous record of 12 (in 1927, 1928, and 1932). The Yankees are the last major league team to repeat as World Series champions and after the 2000 season they joined the Yankee teams of 1936–1939 and 1949–1953, as well as the 1972–1974 Oakland Athletics as the only teams to win at least three consecutive World Series.

In aftermath of the September 11 attacks, the Yankees defeated the Oakland A's in the ALDS, and the Seattle Mariners in the ALCS. By winning the pennant for a fourth straight year, the 1998–2001 Yankees joined the 1921–1924 New York Giants, and the Yankee teams of '36–'39, '49–'53, '55–'58 and '60–'64 as the only teams to win at least four straight pennants. The Yankees won eleven consecutive postseason series in this four-year period. In the World Series against the Arizona Diamondbacks, the Yankees lost the series when closer Mariano Rivera uncharacteristically blew a save in the bottom of the ninth inning of Game 7; all seven games were won by the home team.

A vastly revamped Yankees team finished the 2002 season with an AL best record of 103–58. The season was highlighted by Alfonso Soriano becoming the first second baseman ever to hit 30 home runs and steal 30 bases in a season. In the ALDS the Yankees lost to the eventual champion Anaheim Angels in four games.

In 2003, the Yankees again had the best league record (101–61), highlighted by Roger Clemens' 300th win and 4000th strikeout. In the ALCS, they defeated the Boston Red Sox in a dramatic seven game series, which featured a bench-clearing incident in Game 3 and a series-ending walk-off home run by Aaron Boone in the bottom of the 11th inning of Game 7. In the World Series the Yankees lost in 6 games to the Florida Marlins, losing a World Series at home for the first time since 1981.

In 2004, the Yankees acquired Alex Rodriguez, who moved to third base from his usual shortstop position to accommodate Derek Jeter. In the ALCS, the Yankees met the Boston Red Sox again, and became the first team in professional baseball history, and only the third team in North American pro sports history, to lose a best-of-seven series after taking a 3–0 series lead.

In 2005 Alex Rodriguez won the American League MVP award, becoming the first Yankee to win the award since Don Mattingly in 1985. The Yankees again won the AL East by virtue of a tiebreaker but lost the ALDS in five games to the Los Angeles Angels of Anaheim. The 2006 season was highlighted by a 5 game series sweep of the Red Sox at Fenway Park (sometimes referred to as the "Second Boston Massacre"), outscoring the Red Sox 49–26.

Despite winning the AL East for the ninth consecutive year, the Yankees lost again in the ALDS, this time to the Detroit Tigers. After the ALDS was over, tragedy struck when pitcher Cory Lidle died when his plane crashed into a highrise apartment building in Manhattan. Along with Thurman Munson, Lidle was the second active Yankee to be killed in a private plane crash.

On June 18, 2007 the Yankees broke new ground by signing the first two professional baseball players from the People's Republic of China to the MLB, and became the first team in MLB history to sign an advertising deal with a Chinese company. The Yankees' streak of nine straight AL East division titles ended in 2007, but they still reached the playoffs with the AL Wild Card. For the third year in a row, the team lost in the first round of the playoffs, as the Cleveland Indians defeated the Yankees in the 2007 ALDS. After the series, Joe Torre declined a reduced-length and compensation contract offer from the Yankees and returned to the National League as manager of the Los Angeles Dodgers.