October Legends Closing November 1
This lot is closed for bidding. Bidding ended on 11/2/2014
After our record breaking sale of Babe Ruth’s final Boston Red Sox contract (which merged in to his Yankee career), which sold for over a million dollars in July 2014, Goldin Auctions brings yet another prized Ruthian contract to the hobby. This is Babe Ruth’s final contract signed as a New York Yankee, and certainly is one of the most historic Ruth contracts ever offered; a truly museum-quality gem, destined to be the cornerstone of any elite sports memorabilia collection.
First, a brief history.
Based upon his talent, popularity and drawing power, Babe Ruth was the highest paid ballplayer for many years. When he was earning an unheard of sum of $80,000 during the depression years, someone asked him if he warranted earning more than President Herbert Hoover. “Sure I do,” replied Ruth. “I had a better year than him.”
Although Ruth was another year older in 1933, he still powered the baseball enough to produce very solid numbers. On the field, the 38-year-old Ruth still hadn't lost his touch, batting .301 with 34 home runs and 104 runs batted in, and punctuating the inaugural Major League All-Star Game in Chicago with its first-ever home run. After this season, everything was looking good for the Bambino (maybe even a managerial opportunity!), but still looming was his yearly “discussion” of a contract with Yankee owner Jacob Ruppert.
Despite the Bambino's countless contributions to the National Pastime, the New York Yankee franchise, and the esteemed "House that Ruth Built," Ruppert would not allow the game's greatest ambassador to ever gain the upper hand during these last few years of negotiations. Instead, he made Ruth's final few years as difficult, and demeaning, as possible. Ruppert witnessed Ruth steal the spotlight for many seasons, which was all well and good when the Yankees were winning World Series titles, but the Yankees fell to second place in 1933, a full seven games behind first place Washington.
And although Ruth’s numbers were still solid for 1933, they had dropped across the board for the second consecutive season – and in Ruppert’s mind, the decline of Babe Ruth had already begun.
For almost the entire offseason after 1933, Ruth and Ruppert bickered over the slugger’s 1934 salary. Ruth demanded $65,000, while Ruppert offered an ego deflating $25,000. Ruth famously stated, “I expected a cut, but $25,000 is no cut, that's an amputation!"
However, realizing they needed each other, both came to their senses and they settled on the number of $35,000. In fact, news reports of the signing quoted Ruppert with “I asked Babe if he would sign for $25,000. He answered that he thought he ought to get $35,000. So without any further discussion I agreed.”
So very magnanimous of the multi-millionaire brewer.
This was the second consecutive season Ruppert dropped Ruth’s salary. In 1932, Ruth earned a contract salary of $75,000, but it was reduced to $52,000 in 1933 after another bitter contract squabble – even after Ruth “Called His Shot” and dominated the 1932 World Series. Even though Ruth was now “only” making $35,000 for the 1934 season, he was still the highest paid player in the game, but was still below the first ever contract he signed with the Yankees – the three year deal he signed for 1922-1924, paying him $52,000 each season.
Oh, by the way, that exact 1922-24 contract is in this same auction as well.
Presented is Babe Ruth’s actual executed contract he signed for the 1934 season. This standard “Uniform Player's Contract” is dated “Jan 15, 1934” and signed by “George H. Ruth” and “Jacob Ruppert”, as well as “Ed Barrow” as Yankee General Manager, and “William Harridge” as American League President. All of the black ink signatures are extremely dark, grading "10/10" in strength and higher in eye appeal, except for Harridge which “only” comes in at (“8/10”).
This is a rare player document signed by four members of baseball’s Hall of Fame.
Ruth's new salary of $35,000, and as mentioned earlier a fraction of what he made a few years earlier. Why would Ruth, who had an inflated ego, signed for such a paltry sum? True, his home run might was in reduced form, but Ruth knew his drawing power at the gates was still through the roof, and one reason he continuously haggled at contract negotiations since even his early days with the Red Sox.
But built into this contract was a earn as you go clause, “A Special Covenant” being added which provided Ruth “25% of the actual net receipts from exhibition games played during the regular championship season…” It is estimated Ruth ended up with more money in his pocket at the end of this contract than he would have had with a much higher straight salary - Ruthian to say the least.
The actual contract, which is seen in the accompanying media article at the time, measures 11" x 17" in its expanded state, and remains in tremendous Near Mint condition. It has the usual folds most of these contracts exhibit. Date stamped for “Jan 16, 1934” under the Harridge signature, which bound this contract as official. At the top of this portion is “Ruth 1934” in black ink. The contract was once professionally framed, but was removed from its home for the past 10 years so the new owner could decide how he wanted to display this beautiful museum quality artifact.
Ruth played valiantly in 1934, but age was creeping up on the Bambino, and he “settled” for only 22 home runs and 84 RBI, while hitting under .300. Still, he walked 104 times as opposing hurlers were still in awe that any moment Ruth could blast one into the upper deck. However, knowing he was finished with the Yankees (in the dugout as player and prospective manager), the great Sultan of Swat exchanged his Yankee pinstripes for a Boston Braves uniform for the 1935 season – his last in baseball.
The historical importance of this 1934 Yankee contract can hardly be overstated. Similar examples of journeyman contracts of a standard Yankee player garner thousands of dollars, yet here we have the very final and controversial New York Yankee contract of the immortal Babe Ruth. Within our vast hobby of so many items, even significant Ruth pieces, there are very few items which rival this gem. With this offered Babe Ruth last Yankee contract we feel Goldin Auctions just hit one out of the park. You can be the fan who catches this home run piece. Letter of authenticity from PSA/DNA.