The New York Yankees were sold to promoter and agent Douglas Hertz in January; by mid-summer, the AFL revoked the franchise in light of controversies involving Hertz’s finances. A syndicate headed by William Cox was awarded the franchise in August, but Hertz kept the name for his new independent team (which later in the season became a traveling team in the American Association). Cox and the new owners of the AFL franchise redubbed the team the Americans. In Buffalo, a less contentious change of ownership resulted in the Indians becoming the Tigers.