Bronx, NY -- (Sports Network) - Major League Baseball owners approved a shift of control of the New York Yankees from George Steinbrenner to his son Hal on Thursday.

Steinbrenner's sons, Hank and Hal, had been named co-chairpersons of the team last April after taking over the day-to-day operations of the Yankees following the 2007 campaign.

"At the MLB meetings today, the clubs approved Hal Steinbrenner as the control person for the New York Yankees," family spokesman Howard Rubenstein said in a statement. "This is consistent with George Steinbrenners desire and commitment to have his sons assume the day to day responsibility of operating the club. George Steinbrenner will remain as Chairman of the New York Yankees, Hal and Hank Steinbrenner will continue as Co-Chairmen.

Hal Steinbrenner, who will be the liaison between the Commissioner's Office and the team, has handled the financial operations of the club in the past year, while his brother Hank turned into the team's mouthpiece, overseeing general manager Brian Cashman and the baseball operations.

"Hal was designated as the control person because he is responsible for the overall business and financial operations of the Yankees," Rubenstein added. "Hank will continue to oversee the clubs Baseball Operations."

At 78, George Steinbrenner's health has reportedly declined over the past few years. His last public appearance came at last year's All-Star Game at Yankee Stadium, as he delivered the balls for the ceremonial first pitches from a golf cart. However, he was not on hand for the team's final game in the park.

George Steinbrenner has been the principal owner of the Yankees since 1973 with the team winning six World Series titles during his reign.