The Senators trade Jackie Jensen to the Red Sox for southpaw Maury McDermott and outfielder Tom Umphlett. The "Golden Boy" will win the American League Most Valuable Player award playing for Boston in 1958.
The Yankees and Orioles complete the largest trade in major league history as 17 players, including Don Larsen, Gene Woodling, and Bob Turley, change teams. The first phase of the transaction began November 18th and will conclude today after the major league draft.
Right-hander Virgil Trucks returns to the Tigers in a trade for White Sox third baseman Bubba Phillips. The 38 year-old 'Fire' will post a 6-5 record in his one-year return stint with the Detroit.
In a unanimous vote, Frank Robinson is selected by the BBWAA as the National League Rookie of the Year. The 21 year-old freshman Reds outfielder will become the first major leaguer to win the Most Valuable Player award in both leagues, the National League prize with Cincinnati in 1961 and the AL crown in 1966 with Baltimore.
Future Hall of Famer Luis Aparicio is selected as the American League Rookie of the Year, beating out Indian Rocky Colavito and Oriole Tito Francona. The 22 year-old White Sox shortstop led the American League with 21 stolen bases.
Red Sox freshman hurler Don Schwall is selected as the American League Rookie of the Year. The 25 year-old right-hander, who managed to get on the All-Star team despite making his big league debut five weeks into the season, compiled a 15-7 record for a team which finished ten games under .500.
The Houston Colt .45's become officially known as the Astros. The change in name for the three year-old expansion franchise is necessitated due to a dispute with the Colt firearm company and the team's proximity to the National Aeronautics and Space Administration (NASA).
The Pirates trade catcher Ozzie Virgil and pitcher Joe Gibbon to the Giants for outfielder Matty Alou. The flycatcher, who hit a meager .231 with San Francisco last year, will capture the National League batting crown next season with a .342 batting average.
After losing the outfielder on waivers, the Kansas City A's get back prospect Joe Rudi from the Indians. The Gold Glove left fielder will play a key role for the world championship teams during the early 70's in Oakland.
The White Sox trade Luis Aparicio to the Red Sox in exchange for infielders Mike Andrews and Luis Alvarado. Boston's acquisition of the future Hall of Fame shortstop shifts All-Star Rico Petrocelli, with his consent, from short to third base.
The Cubs announce Ernie Banks will serve as a coach with the club next season, ending the infielder's 19-year major league Hall of Fame career. 'Mr. Cub', the team's first black player, won back-to-back MVP awards in 1958-59, and in 1999 was named to Major League Baseball's All-Century Team
Former Cleveland outfielder Brett Butler (.295, 9, 41) signs with the Giants as a free agent. The 31 year-old leadoff hitter will play a vital role in helping San Francisco to capture the NL pennant in 1989.
Due to the acquisition of All-Star backstop Mike Piazza, the Mets deal fan favorite Todd Hundley along with right-hander Arnold Gooch to the Dodgers for outfielder Roger Cedeno and catcher Charles Johnson. New York then sends Johnson to Baltimore to obtain closer Armando Benitez.
Bypassing his agent and making the deal himself, Orioles first baseman Rafael Palmeiro turns down a bigger offer from Baltimore. The 33 year-old All-Star agrees to a $45 million, five-year deal to return to the Rangers, the club he left five seasons ago before joining the Birds.
The Mets sign 31 year-old Gold Glove third baseman Robin Ventura (.263, 21, 91) to a four-year, 32 million dollar free-agent deal. The former White Sox infielder will join two-time Gold Glove shortstop Rey Ordonez, Edgardo Alfonzo, who will shift from the hot corner to second base, and first baseman John Olerud to make up one of the best fielding infields in history, according to Sports Illustrated.
Turk Wendell, who wears uniform number 99, agrees to a three-year deal worth $9,999,999.99 with the Mets. The New York reliever had asked that his pact include an option year in which he would play for free, but that plan was unworkable because baseball's collective bargaining agreement sets a $200,000 minimum salary.
At a news conference covered by approximately 100 members of the media, many of them from the New York papers and broadcast outlets, the Red Sox introduce Bobby Valentine as the team's new manager. Boston announces that the 61 year-old skipper, who hasn't managed in the big leagues since being fired by the Mets in 2002, has agreed to a two-year deal with the club, having options for 2014 and 2015.