Dec 04, 1964: Owners approve draft
Submitted by BTGrimes on Tue, 12/04/2012 - 10:00am
No more "bonus babies"
HOUSTON, TEXAS - This date in baseball history was trumpeted as the end of the "bonus baby" era - the throwing of tens of thousands, even hundreds of thousands, of dollars (a lot of money in those days) at wide-eyed kids expected to become the next Mickey Mantle or Sandy Koufax. More often than not they didn't pan out.
Major League Baseball owners meeting in Houston on this date in 1964 decided to put an end to the chasing of unproven kids by hordes of scouts with wads of cash and approved an amateur draft. The first one was held in 1965.
There still is chasing after kids and some significant bonuses because the team that drafts the player retains the rights to signing him until the next year's draft. If a propsect is not signed he can re-enter a future draft and be chosen by any team but the one which selected him the previous year, unless the player consents.
Those eligible to be drafted are:
• Residents of the United States or Canada who have never signed a major or minor league contract
The first ten #1 picks of the amateur draft:
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