12:30 p.m.: John Sterling opened the ceremony in a 3/4 full Yankee Stadium by introducing "the greatest owner in the history of baseball" -- George Steinbrenner.

Sterling then told fans about a new addition to the stadium -- flags atop the stadium for all 27 World Series titles.

Then Michael Kay introduced a video montage of the 2009 Yankees greatest moments.

Now, the introductions:

Yogi and Whitey

Joe Girardi

Trainer Gene Monahan, who drew nice applause as he is battling a serious illness.

The trainers and coaches are lining up on the edge of the grass near first base with the line extending toward second base.

Girardi is in front of the pitchers mound with Yogi and Whitey behind two tables to hand out the rings

First up, Andy Pettitte, who got his ring and went back to the dugout

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Next: Jerry Hairston Jr., who came out in a suit. In case you didn't hear, Hairston played for the Padres in San Diego yesterday, flew here, and will fly back for tomorrow's Padres game. They are off today.

The players are coming out one by one, getting the rings, giving hugs, and lining up on the infield.

Huge ovation for A-Rod. He was sandwiched between Ramiro Pena and Brett Gardner in the introduction order.

And then...Derek Jeter.

And now the crowd is chanting "Derek Jeter, Derek Jeter."

Yankees videos

The final ring -- and the loudest ovation -- is for Hideki Matsui, who jogged out of the Angels dugout. All of the Yankees came over from the infield grass to greet and hug Matsui. Very unique moment.

Now the lineups are being introduced, Angels first. Now back to your regularly scheduled blogging.