Dan Topping who was a longtime owner of the NFL's Brooklyn Dodgers and President of the New York Yankees in baseball, was forced to merge with the Boston Yanks in 1945 due to a shortage of players and financial struggles. Instead of reestablishing the Dodgers, Topping agreed to join the All-American Football Conference and formed a team called the New York Yankees.

Topping was able to take several players along with him to the AAFC's Yankees and also had a top coach in Ray Flaherty who had won the 1942 NFL Championship with the Washington Redskins. It was clear early that the Yankees were one of the best teams in the AAFC as they won their first game on the road against the San Francisco 49ers 21-7 on September 8th.

Due to the baseball season, the Yankees had to start the season on the road, posting a 2-1-1 record. The Yankees would beat the Buffalo Bisons 21-13 in their home debut on October 4th.

Following a 7-0 loss to the Cleveland Browns on Columbus Day, the Yankees would run off a five game winning streak that clinched the Eastern Division in the AAFC. The Yankees would go on to finish the regular season with a record of 10-3-1, which was seven games better than any other team in the AAFC East.

The Yankees would face the Cleveland Browns in the first AAFC Championship Game on December 22nd. The Browns who had beaten the Yankees twice in the regular season again won the game 14-9 at Cleveland's Municipal Stadium.