The New York Yankees were founded in 1903. The team was originally established when Frank Farrell and Bill Devery purchased the franchise rights to the defunct Baltimore Orioles after it ceased operations. They initially named the team the New York Highlanders. The official nickname "Yankees" or "Yanks" started being used around 1904 in newspapers, but the team was officially renamed the New York Yankees in 1913. So, the foundation year for the Yankees as a New York-based team is 1903, with the Yankees name officially adopted in 1913.