This season marked the beginning of a transition for the Yankees before a resurgence in the 1970s. This was the first season since 1925 that they failed to finish above the .500 mark. They would bottom out in 1966.
October 21, 1964: Ralph Terry was sent by the Yankees to the Cleveland Indians to partially complete an earlier deal (the Yankees sent players to be named later and $75,000 to the Indians for Pedro Ramos) made on September 5, 1964. The Yankees sent Bud Daley to the Indians on November 27 to complete the trade.
April 9, 1965: The Houston Colt .45s became the Houston Astros and inaugurated indoor baseball in the Astrodome with a 2-1 exhibition win over the Yankees. In this game, Mickey Mantle hit the first home run in the history of the Astrodome.