NEW YORK (AFP) - The triumphant New York Yankees baseball team paraded up Manhattan's Canyon of Heroes on Friday for a ticker tape parade to celebrate winning the World Series championship.

Huge, cheering crowds lined the Manhattan pavements as confetti poured down from skyscrapers onto the team passing below on floats.

The New York Yankees captured their 27th World Series title Wednesday, defeating defending champion Philadelphia 7-3 and ending an eight-year drought for baseball's highest-paid team.

The parade's route followed the traditional scene of sports celebrations, most recently the Giants football Super Bowl victory in 2008.

Manager Joe Girardi and team stars including Japan's Hideki Matsui, captain Derek Jeter, pitcher Andy Pettitte, and controversial mega-talent "A-Rod" Alex Rodriguez exchanged waves with screaming fans.

"It is the first time that I see live a ticker tape parade for the Yankees, so for me it is very important, it means a lot," said Cliff Kenney, 27, sporting the best-selling Yankees cap.

The parade culminated with a ceremony at City Hall where Mayor Michael Bloomberg was honoring the team with the keys to the City.