The World Series is the championship series of Major League Baseball and the culmination of the sport's postseason each October. Since the Series takes place in mid-autumn, sportswriters many years ago dubbed the event the "Fall Classic". The St. Louis Cardinals are the current (2006) World Series champions.
The World Series is played between the winners of the American League and National League, which currently includes 30 clubs based in certain U.S. and Canadian cities. The modern World Series has been an annual event since 1903, with the exceptions of 1904 and 1994. Baseball has employed various championship formulas since the 1860s. When the term "World Series" is used by itself, it is usually understood to refer to the "modern" World Series exclusively.
The World Series championship is determined through a best-of-seven playoff. Best-of-seven has been the format of all the modern World Series except in 1903, 1919, 1920 and 1921 when the winner was determined through a best-of-nine playoff. The Series winner is awarded the World Series Trophy, as well as individual World Series rings.
The New York Yankees have played in 39 of the 102 Series up to and including 2003 and have won 26 World Series championships, which is far more than any other Major League franchise. The St. Louis Cardinals have won ten championships, which is the second most all time and the most for any National League team. The Cardinals also hold a 3 Series to 2 edge against the Yankees in Series play, the only one of the "classic eight" National League teams to lead the Yankees overall.