December 31, 1974: The Yankees Hook a Catfish

December 31, 1974: The era of baseball free agency begins, as the Yankees "hook a Catfish."

James Augustus Hunter was signed out of Perquimans High School in North Carolina by the Kansas City Athletics on June 8, 1964. Team owner Charles O. Finley thought "Jim Hunter" was too ordinary a name, and that he needed a nickname. Charlie asked "Jimmy" (as he was always known to his family) what he liked to do. Jim said he liked to hunt and fish, a common pair of passions for baseball players from rural areas in those days.

So Finley made up a story about how, when he was a boy, Jimmy caught a whole bunch of catfish, and that he had been nicknamed "Catfish Hunter" -- or, sometimes, just "Cat" -- from then on. Of course, no one had ever called him "Catfish" -- or "Cat" -- until June 8, 1964.

Hunter made his debut with the A's in 1965. In 1966, he made the 1st of what turned out to be 8 All-Star Games. The A's moved to Oakland in 1968. That season, Catfish pitched a perfect game. He helped them win the American League Western Division in 1971, and the World Series in 1972, 1973 and 1974. He won the AL Cy Young Award in 1974, leading in both wins (he went 25-12) and ERA. That year, despite Tom Seaver, Steve Carlton, Jim Palmer and Nolan Ryan all being in their prime, he was the best pitcher in baseball.

Charlie Finley was so cheap! (How cheap was he?) He was so cheap, he let the best pitcher in baseball get away because he refused to fulfill a part of the man's contract. The contract that Catfish signed for 1974 was for 2 years -- unusual under the still-holding reserve clause -- for $200,000, or $100,000 per year, which, while no longer a record, was still a benchmark for ballplayers.

But not all of that was salary: The contract stipulated that, in 1974 and again in 1975, Finley would make a $50,000 payment to a life insurance annuity. Since Finley had become rich selling insurance, he should have not only understood this, but respected this.

But after the 1974 season, Finley found out he had to pay $25,000 in taxes, due immediately. (Worth about $148,000 in 2022 money.) So he refused to pay the annuity. Catfish, who had been trying to secure his family's post-baseball future, was normally a very even-tempered man, which helped him a lot while pitching. Over this, though, he hit the roof, and appealed to Peter Seitz, Major League Baseball's arbitrator for contract disputes.

On December 16, 1974, foreshadowing the decision he would make a year later, killing the reserve clause, Seitz ruled in Catfish's favor: He was now a free agent, and the 24 teams then in Major League Baseball were all permitted to bid for his services for 1975 and beyond.

Suddenly, the small town of Hertford, in the Inner Banks of North Carolina, a small town of about 2,000 people, 60 miles south of the Class AAA city of Norfolk, Virginia, became the center of the baseball world. Every team, except the San Francisco Giants, bid for Catfish.

The winning bid came from the New York Yankees. Although team owner George Steinbrenner was suspended from operating the team until the 1976 season, general manager Gabe Paul had his permission to offer Catfish $3.35 million over 5 years -- $670,000 per season, a record at the time. (In today's money, about $3.98 million per year. How quaint that now sounds.)

Catfish actually refused 2 higher bids: From the San Diego Padres, because he was tired of being on the opposite coast from home; and from the Kansas City Royals, because he wanted to play on real grass, and Royals Stadium had artificial turf. (In 1993, that stadium was given both real grass and a new name, Kauffman Stadium, both of which it still has.)

To put the figure in perspective: The player who was paid the most for the 1974 season was Hank Aaron, MLB's new all-time home run leader: $240,000. (About $1.42 million in 2022 money.) Catfish's contract had broken the barriers of $250,000 (a quarter of a million), $300,000, $400,000, $500,000 (half a million) and $600,000.

Catfish struggled at first in 1975, losing his 1st 3 games. In fact, his debut, on April 8, 1975, was also Frank Robinson's 1st game as baseball's 1st black manager, and he hit a home run off Catfish to give the Cleveland Indians the win. But he settled down, and went 23-12. It was his 5th straight season of at least 21 wins.

But all that pitching began to wear on his arm. He went just 17-15 in 1976, still helping the Yankees win the Pennant. He was injured for much of the 1977 and 1978 seasons, but a procedure on his shoulder allowed him to win 6 straight games down the stretch in 1978. After being hit hard in Game 2 of the 1977 World Series, but the Yankees won the Series anyway, Catfish won the clinching Game 6 of the 1978 World Series.

After the 1979 season, the 5th and last year of his contract, Catfish retired. He had always intended to, but his bad shoulder took the decision out of his hands. His final record was 224-166. After that season, the Houston Astros signed Ryan to the 1st contract to break the $1 million-per-season barrier.

Jim "Catfish" Hunter was elected to the Baseball Hall of Fame in 1987. Charlie Finley has never been elected. Then again, neither have George Steinbrenner, Gabe Paul and Peter Seitz.

Catfish died in 1999, like Lou Gehrig from amyotrophic lateral sclerosis, the disease now named for Gehrig.

For the 2023 season, the New York Mets will pay Max Scherzer and Justin Verlander, 2 pitchers whose statistics will make them sure Hall-of-Famers if they don't do anything stupid like Pete Rose did, record salaries of $43,333,333 each. In 1974, that would have been $7.1 million, or 10.6 times Catfish Hunter's former record salary.

*

December 31, 1974 was a Tuesday. Baseball was out of season. The NFL was in midweek. No college football bowl games were played that day. No NBA games were played. One game was played in the American Basketball Association: The San Antonio Spurs beat the Indiana Pacers, 140-105 at the HemisFair Arena in San Antonio. Despite that high score, the leading scorer for the Spurs was George Gervin: "The Iceman" scored 27.

Two games were played in the NHL. The Detroit Red Wings beat the California Golden Seals, 4-3 at the Olympia Stadium in Detroit. And the Los Angeles Kings beat the Chicago Black Hawks, 3-1 at the Chicago Stadium.

And 2 games were played in the World Hockey Association. The Chicago Cougars beat the Cleveland Crusaders, 4-3 at The Coliseum in the Cleveland suburb of Richfield, Ohio. And a 1-1 tie was played between the Phoenix Roadrunners and the Michigan Stags, at Cobo Hall in Detroit.