The Pittsburgh Pirates sign high school pitcher Paul Pettit for a record $100,000 after buying his contract from a film producer

On January 31 1950 — The Pittsburgh Pirates sign high school pitcher Paul Pettit for a record $100,000 after buying his contract from a film producer, who had signed him to an exclusive contract as an athlete/actor. Under Major League Baseball’s “high-school rule”, scouts are barred from doing so prior to graduation. Unfortunately, with an eventual 1-2 career mark, Pettit will prove not to be worth the trouble.