On December 29, 1890 — 1890 – In the Players League, after the New York Giants and Pittsburgh Burghers clubs combine with their National League rivals, Al Spalding buys out Chicago’s PL backer, John Addison, for $18,000, some of which goes to pay off unpaid salaries and reimburse players half of their investments. Spalding gets the club’s grandstand, equipment, and player contracts.
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Sources:
Baseball Reference December 29
National Pastime December 29
National Pastime December 29