The New York Yankees are a professional baseball team based in the Bronx borough of New York City. They were established in 1901 as the Baltimore Orioles and moved to New York in 1903, where they were renamed the Highlanders. The team was renamed the Yankees in 1913 and has since become one of the most successful teams in Major League Baseball (MLB) history, with 27 World Series Championships and 40 American League Pennants. The Yankees play in the American League East division of MLB and their home stadium is Yankee Stadium. The team is known for its iconic pinstripe uniforms, navy blue cap with the interlocking "NY" logo, and its history of legendary players such as Babe Ruth, Lou Gehrig, Joe DiMaggio, and Derek Jeter. The Yankees are also one of the most valuable sports franchises in the world.