For many Australians and non-baseball fans, the name George Steinbrenner conjures up visions of a pompous caricature seen only from behind in episodes of Seinfeld.

He was George Costanza's bombastic boss, who despite running the New York Yankees, got caught up emotionally in things like eggplant calzones.

Ironically, fiction in this case, is not much stranger than truth.

Steinbrenner, who died today from a heart attack, aged 80, was a bigger-than-life presence who changed the face of baseball irrevocably. What will be assessed now that he has passed on, is whether that change was for good or for bad.

On the plus side of things, Steinbrenner - who bought the Yankees in 1973 - turned the team into the most important franchise this side of Manchester United. The team's worth was recently estimated by Forbes magazine at $1.6 billion, far ahead of the Boston Red Sox, second at $870 million.

Steinbrenner's television deals - first with the MSG Network and now the YES Network - ensured that the club would bring in millions of dollars in revenue every year.

He presided over seven World Series victories and 11 American League pennants, and his big spending brought all kinds of superstars to the Big Apple. Whether it was Reggie Jackson or Alex Rodriguez, there was no shortage of talented players willing to ply their trade at Yankee Stadium.

Of course, Steinbrenner took advantage of baseball's free agency and lack of a salary cap, and the term "buying a championship" was thrown around liberally by Yankee haters and small market baseball teams alike. Much of the free-spending madness that has at times crippled Major League Baseball can be traced back to the Yankees' willingness to pay big dollars for free agents.

Steinbrenner was also a notorious hothead, sacking managers right and left. The legendary Billy Martin was hired and fired five different times in the 1970s and 80s.

He was the quintessential hands-on owner, paving the way for guys like Dallas Cowboys' owner/egomaniac Jerry Jones. Steinbrenner had no qualms about criticising his players. He famously called pitcher Hideki Irabu a "fat toad" and referred to Dave Winfield as "Mr. May" (in contrast with clutch superstar Reggie Jackson, who was "Mr. October").

Steinbrenner was also suspended from baseball twice, once for an illegal campaign contribution to Richard Nixon and once for paying a gambler to dig up damaging information on Winfield.

But he also contributed millions to charities, and never wanted public acknowledgement.

Like many powerful men, Steinbrenner will be remembered as a bit of an enigma. A loud, arrogant boss with a thirst for winning at all costs. But also a passionate man who cared deeply about the things he loved most.

It's fitting that Steinbrenner passed away after having just seen his beloved Yankees win the 2009 World Series, their first since 2000.

His death also comes on the day baseball plays its All-Star game, and the well-paid millionaires running around on the field should probably say a quick prayer and offer a moment of thanks to the man who helped line their pockets.