Yankee Jorge Posada celebrates on a float during the Yankees World Series Victory Parade (Michael Loccisano/Getty Images)

Church bells tolled, confetti fluttered down Broadway, students skipped school, and parents took the day off of work to celebrate the Yankees' 27th World Series victory. The players and management were given keys to the city.

The ailing George Steinbrenner, who has made few public appearances was not at today's festivities, but manager Joe Girardi had a message for the team from the famously-focused boss: 'Pitchers and catchers report in 96 days, be ready to defend it.' That had the crowd at City Hall Park chanting, '28! 28!'

The team's managing partner, Hal Steinbrenner, was there and sounded a lot like his father when he told a gleeful crowd he's gunning for another title next year.

My family has always made a commitment to field a championship caliber team, and I promise you as I stand here today that will never change. And with a little bit of luck, I hope we will be standing right here, a year from today.

Fans from the tri-state area and beyond woke up before dawn to get downtown and grab a prime spot along the Canyon of Heroes. Arthur Gregory, the owner of Suspenders Bar, says he knew it would be a busy morning. 'At 7 o'clock in the morning I had 200 people in there. It was amazing, I couldn't believe it. We ordered 400 cases of beer, 25 kegs, enough hamburgers for 1000. When they come down the Canyon you gotta be prepared and we right in the middle of it,' Gregory said.

The celebration was brought to a close with a performance by Jay-Z, performing his ode to the city: 'Empire State of Mind.'

The last time the Yankees were feted with a parade was in 2000 when they defeated their cross-town rivals, the Mets. This was the city's 179th ticker tape parade.