1931 and 1932 Joe McCarthy Signed New York Yankees Managerial Contract - First Yankees Contract!

Sold For: $2,400

Auction Year: 2017 spring

Lot: 1728

Item Year: 1931

Category: Baseball Contracts

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Four-page fold-over contract, dated October 14, 1930, between Joe McCarthy and the American League Base Ball Club of New York, signed in black fountain pen by both "Joseph McCarthy" (grading "9") and Jacob Ruppert ("10"), owner of the Yankees. The two-year agreement, for the 1931 and 1932 seasons, calls for McCarthy to receive a yearly salary of $1.00. Longtime Yankees manager Miller Huggins died at the close of the 1929 season and the Yankees replaced him in 1930 with their former mound ace, Bob Shawkey. Although the Yankees record in 1930 was only two games worse than the year before, Ruppert and Barrow felt that Shawkey was not the man to lead the club for the long term. Instead, they turned to Joe McCarthy, who had guided the Chicago Cubs to the 1929 pennant. Their decision was obviously the right one, as “Marse” Joe became one of the most successful managers in franchise history, leading the club to eight pennants and seven World Championships during his sixteen-year tenure (1931-1946). It is not known why this contract is for only $1.00 a year. McCarthy was being courted by a number of clubs in the fall of 1930 after the Cubs declined to renew his contract. One of the most interested clubs was the Boston Red Sox. Perhaps the Yankees had McCarthy sign this agreement just to lock him up, with the actual salary to be negotiated later. Whatever the reasons, this remains McCarthy’s first contract with the Yankees and covers the 1932 season, which marked his first World Championship in pinstripes. McCarthy eventually retired in 1950 with a lifetime record of 2,125 and 1,333 (.615 winning percentage). He was elected to the Hall of Fame in 1957. This is one of only a few Joe McCarthy managerial contracts we have seen and just the second we have ever offered. The contract (8.5 x 11 inches) displays two horizontal folds and is in Excellent condition overall. Auction LOA from James Spence/JSA. Pre certified by Steve Grad and Brian Sobrero/Beckett Authentication. Reserve $300. Estimate (open).

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