The Yankees announced Friday that the NCAA's Football Issues Committee has granted a four-year license to the New Era Pinstripe Bowl for 2010-13.
The committee's decision marks the first time it has licensed a bowl on a four-year cycle, instead of the traditional year-by-year basis.
"We could not be more excited about bringing this premier college football bowl game to Yankee Stadium and the Bronx," said Yankees team president Randy Levine. "Yankee Stadium was built to be a premier destination not only for baseball, but for other exceptional and memorable events. The pageantry and tradition of college football belongs in Yankee Stadium and New York City."
The first New Era Pinstripe Bowl is scheduled for Dec. 30 at Yankee Stadium and will be nationally televised by ESPN, which has also secured national and local radio rights for ESPN Radio.
The game will pit the Big East team with the third-best conference record against the Big 12 team with the sixth-best conference mark after the conferences' respective BCS teams have been excluded from consideration.
"We're very excited to be hosting the Pinstripe Bowl -- two great football conferences, the Big 12 and the Big East," co-chairman Hal Steinbrenner said last month. "We all know the old tradition that's held across the street is a rich history. Most of it is baseball, but there's football there, too."
Steinbrenner said that the event has special meaning for his father, principal owner George M. Steinbrenner, who played and coached college football.
"Football has always been a love of my dad; he played it, he coached it," Steinbrenner said. "He's got a great many friends in the sport itself. ... He's very excited about this. He's looking forward to December, as we all are."
The conferences have entered a four-year agreement extending through 2013 to participate in the New Era Pinstripe Bowl. In future years, games will take place no earlier than Christmas Day and no later than New Year's Day.
The inaugural game will be the first college football bowl game held in the Bronx since Dec. 15, 1962, when Nebraska beat Miami (Fla.), 36-34, in the Gotham Bowl, held in the House that Ruth Built.
The New Era Pinstripe Bowl won't be the first college game played at the stadium in 2010. The new Yankee Stadium will also host a regular-season college football game between Notre Dame and Army on Nov. 20, to be followed by a series of Army games in the future.
The Yankees will have an announcement regarding New Era Pinstripe Bowl ticket availability at a later date.
Bryan Hoch is a reporter for MLB.com. This story was not subject to the approval of Major League Baseball or its clubs.