1963 – Major league owners agree to allow the expansion clubs four protected first-year players who can be optioned to the minors without being subject to a draft.

This Day In Baseball

 

On December 1, 1963 — 1963 – Major league owners agree to allow the expansion clubs four protected first-year players who can be optioned to the minors without being subject to a draft.

 

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Sources:

Baseball Reference December 1
SABR Games Project
Hall of Fame
National Pastime December 1
Replay The Game
Retro Sheet