American League owners unanimously approve the sale of the Red Sox to Harry Frazee and Hugh Ward.

On ,December 13 1916 — American League owners unanimously approve the sale of the Red Sox to Harry Frazee and Hugh Ward. They paid Boston Red Sox owner Joseph Lannin $ 1,000,000, for the 1916 World Series Winner, at the time they were the most valuable and successful franchise in Baseball.

Frazee was the owner of the Boston Red Sox from November of 1916 until 1923. His team won the World Series in 1918, but he is most remembered for selling Babe Ruth to the New York Yankees in 1920 and more generally for dismantling what was at the time baseball’s best franchise.

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