Red Sox sale of Babe Ruth to the New York Yankees is announced.

In selling Ruth for $100,000 cash and a $300,000 loan, club owner Harry Frazee explains, “No other club could afford to give the amount the Yankees paid for him, and I do think they are taking a gamble,” Frazee uses some of the money to finance his Broadway production of the comedy My Lady Friends (but not the musical on which it is based, No, No, Nanette, which does not open until 1925). The sale of Ruth prompts widespread criticism, including by one Boston newspaper that runs cartoons of “For Sale” signs on Faneuil Hall and the Boston Public Library, and is subsequently blamed for bringing on “The Curse of the Bambino,” which prevents the Red Sox from winning the World Series until 2004.*