On April 8, 1927 â Four days before the season opens, recently-traded Rogers Hornsby breaks the impasse by selling his stock in the St. Louis Cardinalsfor $112,000. He receives $86,000 from owner Sam Breadon, $2,000 from each of the other seven National League clubs, and an extra $12,000 from the New York Giants, his new team.
This was a complicated situation. Hornsby was the second largest stockholder in the Cardinals behind owner Sam Breadon, who had loaned Hornsby the money to buy the stock from Branch Rickey, at 43.00 a share in 1925. At the time Hornsby was traded to the Giants, Breadon offered the same 43.00 per share, but Hornsby knew as World Champions the stock was worth far more. He had it appraised at over 100.00 per share, and insisted on receiving it. After it got settled, but it was situations like this that caused MLB to make rules that players and on-field personnel could not own team stock while active.
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