Welcome to February 29, the day that occurs every Leap Year. This date holds significance in the financial history of baseball, with only 16 out of 23,114 Major League Baseball players being born on February 29. Notable players born on this rare date include Pepper Martin of the St. Louis Cardinals and Al Rosen of the Cleveland Indians.
Pepper Martin, part of the legendary Gashouse Gang, was a standout player in the 1930s, batting over .300 six times and leading the NL in stolen bases three times. Despite his popularity, his top salary was $9,000 in 1934, equivalent to $209,145 today.
Al Rosen, the 1953 American League Most Valuable Player, had a successful career with the Cleveland Indians, averaging 31 homers, 114 RBI, and a .298 average over five years. Despite his achievements, his salary was reduced in 1955 due to injuries, leading to his retirement at age 32.
In a notable financial transaction on February 29, 1956, the Cleveland Indians were sold for $4 million to a group that included Hank Greenberg. Fast forward to February 29, 2016, when the Indians paid $4 million to infielder Juan Uribe, who retired after a brief stint.
On February 29, 1972, baseball legend Henry Aaron became the first player to sign a $200,000 contract at the age of 38. This marked a significant increase from his rookie salary of $6,000 in 1954. By 2016, Clayton Kershaw held the richest contract in baseball at $32 million, showcasing the exponential growth in player salaries over the years.
As baseball economics continue to evolve, it is intriguing to speculate on the future of player contracts. By 2038, the top contract in baseball may reach unprecedented levels, reflecting the ongoing transformation of the sport's financial landscape.
