IN THE NEWS: Cubs fireballer Kerry Wood, with a 13–6 record, wins the National League Rookie of the Year award. Wood held batters to a NL best .196 average and was 3rd in the NL in strikeouts with 233 in just 166 2/3 innings.
IN THE NEWS: The Mets announce GM Steve Phillips will take a paid leave of absence while a threatened sexual-harassment lawsuit against him is resolved. Phillips acknowledges having had an extramarital affair with the woman, but denies having harassed her. Frank Cashen will replace Phillips on an interim basis.
The Rockies sign free agent P Brian Bohanon to a 3-year contract.
Cubs slugger Sammy Sosa is named the National League MVP. Sosa hits 66 homers and led the National League in RBIs while carrying the Cubs to the playoff.
It is revealed that Hall of Fame P Jim "Catfish" Hunter is suffering from amyotrophic lateral sclerosis, the progressive, ultimately fatal neurological condition better known as Lou Gehrig's disease.
Texas OF Juan Gonzalez is named the American League MVP. Gonzalez drove in 101 runs by the All-star break, and his 157 RBIs was the most in the AL in 49 years.
In a swap of high-priced unwanteds, the Mets send P Mel Rojas to the Dodgers for OF Bobby Bonilla. Neither will help, but the little-used, outspoken Bonilla, with a 2-year contract, will be a heavier burden than Rojas.
The Tigers sign free agent 3B Dean Palmer to a 5–year contract.
IN THE NEWS: Babe Ruth hits new heights today: $126,500. That is the price paid for the ball he hit in 1923 for the first home run in Yankee Stadium. Mark Scala found the Ruth ball two years ago in the attic of his grandmother's house. The bid was $110,000 and the total price includes the auction house's 15 percent commission. Two year ago, the ball Eddie Murray hit for his 500th home run was sold for what one day could be $500,000. Michael Lasky, the founder of the Psychic Friends Network, paid $280,000 that was put in an annuity to be paid over 20 years. With interest, the annuity will be worth about $500,000, according to a spokesman for Lasky, who also operates as syndicated handicapper Mike Warren. The previous record for an auctioned baseball was $93,500 for the ball that went through Bill Buckner's legs in the 1986 World Series. That ball was bought by actor Charlie Sheen in 1992. Other auctioned items include: the bat Pete Rose used for his 4,191st hit, which tied Ty Cobb's career record, was sold by an unidentified Rose associate for $21,096; an autographed ball from President Franklin Roosevelt that he used to throw out the ceremonial first pitch before the 1941 season opener at Griffith Stadium sold for $17,255, and a personal check signed Henry Louis Lou Gehrig sold for $15,306.
The Red Sox sign free agent Jose Offerman, who played with the Royals, to a 4-year contract.
The Dodgers sign free agent P Alan Mills to a 3-year contract.
IN THE NEWS: The Mets reinstate GM Steve Phillips, who will continue to undergo counseling. The threatened sexual harassment suit will be settled out of court.
IN THE NEWS: The Braves sign free agent OF Brian Jordan to a 5–year contract. Jordan had flirted with several teams before landing the five year deal with the Braves.
The Marlins trade C Gregg Zaun to the Rangers in exchange for a player to be named or cash.
Bob Betts, the p.a. announcer whose distinctive baritone made him synonymous with Brewers baseball at Milwaukee County Stadium, dies at the age of 70. Betts announced the home games for 23 seasons.