The New York American League franchise announces the purchase of a ten-acre plot of land for $675,000, from the estate of William Waldorf Astor, to be used as the future site of Yankee Stadium. The club's new ballpark, located on the west side of the Bronx, will sit directly across the Harlem River from the Polo Grounds, the team's current home for the past ten years as tenants to the Giants.
Ford Frick, a New York news reporter and broadcaster, is named the National League's public relations director.
Demanding a yearly salary of $25,000, future Hall of Famer (1953) Dizzy Dean becomes a holdout. The Cardinal right-handed ace will sign for $19,500 the following day.
Supporting the Wagner-Cashmore plan to build a $30-million downtown Brooklyn sports center, Walter O'Malley promises to buy four million dollars worth of bonds.
The Red Sox sign Ted Williams for $135,000, making him the highest paid player in major league history.
The Phillies announce the team will retire Robin Roberts' uniform number 36 when his new club, the Yankees, visits Clearwater to play Philadelphia in a March spring exhibition game. It will mark the first time that a uniform number has been retired in the 79-year history of the franchise.
The Yankees sign free-agent Al Holland. The well traveled reliever saved five games for three different teams last season.
Angels free-agent Bengie Molina (.295, 15, 69) and the Blue Jays come to terms on a $5 million, one-year deal with a $7.5 million mutual option for 2007 with a $500,000 buyout clause. Along with starter A.J. Burnett and closer B.J. Ryan, third baseman Troy Glaus and first baseman Lyle Overbay, the 31-year-old Gold Glove catcher becomes the latest blue chip to join Toronto during the off season.
The Rangers hire Nolan Ryan as team president during a pivotal point in club history, according to club president Tom Hicks. The 61-year-old Hall of Fame hurler, who retired with the Rangers in 1993 after playing a record 27 seasons, is introduced at The Ballpark in Arlington with much fanfare including a video highlight package featuring many of the right-hander's milestones.
After Seattle declines to offer him salary arbitration, free-agent Erik Bedard agrees to stay a part of the Mariners' pitching rotation inking a one-year deal with a mutual option for 2011. The 30 year-old oft-injured southpaw, who is rehabilitating after surgery on his pitching shoulder last August, will not have to continue in his disappointing role as the ace of the team with the off-season trade for Cliff Lee and the emergence of Félix Hernández.
An arbitration panel rules his favor of 27-year old Anibal Sanchez (8-9, 3.67) awarding the Marlin right-hander with a record-breaking $8 million salary for this season. The decision, which puts aside the team's counter offer of $6.9 million, represents the largest amount ever given to a starting pitcher who went to arbitration.