The International Olympic Committee votes to drop baseball from the Olympics and replace it with golf. The reason is that the competition does not draw the best players, since Major League Baseball does not release its players to play.

On August 29, 2002 — The International Olympic Committee votes to drop baseball from the Olympics and replace it with golf. The reason is that the competition does not draw the best players, since Major League Baseball does not release its players to play.


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Sources:
Baseball Reference August 29
National Pastime August 29
Retro Sheet
Hall of Fame
SABR Games Project
Replay The Game