NEW YORK (Bloomberg) — George Steinbrenner's son Hal was named chairman of the company that owns the New York Yankees, a possible sign of who will be the next boss of the Major League Baseball team.

Hal Steinbrenner, one of four children in the family, was promoted from executive vice-president and treasurer of Yankees Global Enterprises LLC, the holding company for the team and the Yankees Entertainment & Sports Network.

He replaces Steve Swindal, who is getting a divorce from Steinbrenner's daughter Jennifer. Steinbrenner said two years ago that Swindal would one day take over the team.

George Steinbrenner, 77, hasn't formally named a successor since Jennifer filed for divorce in March. He did say that the franchise would stay in the family. Sons Hal and Hank had been mentioned as possible candidates, with each taking on a larger role with the organisation.

Steinbrenner spokesman Howard Rubenstein declined to comment on Hal Steinbrenner's role as a possible successor to his father. He said Swindal relinquished his positions with the Yankees as part of a settlement.

Hal Steinbrenner, 38, is chief executive of Steinbrenner Hotel Properties. He graduated from Williams College and got his Masters in business administration from the University of Florida. Hank Steinbrenner has worked on the family horse farm, Kinsman Stable, in Ocala, Florida.

Felix Lopez, who's married to Steinbrenner's daughter Jessica and is a Yankees senior vice-president, was named to the board of directors of Yankees Global Enterprises.