Joe DiMaggio Signs Baseball's First Six-Figure Contract

On February 7, 1949, Joe DiMaggio signed a one-year contract with the New York Yankees for $100,000, becoming the first baseball player to reach six figures. The deal included a base salary of $70,000 plus performance bonuses that pushed the total to the landmark number.

The story behind the contract involved a dinner conversation. Yankees co-owners Dan Topping and Del Webb told restaurateur Toots Shor they planned to offer DiMaggio $90,000. Shor pushed back, arguing that a six-figure number would make history. Topping and Webb agreed.

DiMaggio had earned it. He was coming off a 1948 season in which he hit .320 with 39 home runs and 155 RBIs, leading the American League in both home runs and RBIs. He had already won three MVP awards and carried the Yankees to nine World Series titles. His 56-game hitting streak in 1941 remains the most iconic record in the sport.

The 1949 season nearly undermined the investment. A bone spur in DiMaggio's right heel kept him out of the lineup until late June. He missed the first 65 games. When he finally returned on June 28 against the Red Sox at Fenway Park, he homered in each game of the three-game series. The Yankees went on to win the pennant and beat the Dodgers in the World Series.

DiMaggio played in only 76 games that year and hit .346 with 14 home runs. The contract set a salary benchmark that would stand until Willie Mays signed for $105,000 in 1963.