In 1970 Peter Seitz had been hired to handle all matters of dispute between players and owners under the Collective Bargaining Agreement. It fell to Seitz to decide if Charley Finley materially breached Catfish Hunter’s contract by not making payments to the company designated by Hunter during the 1974 season. One of several points to be considered was Finley’s offer, not a part of the contract, to pay the $50,000.00 directly to Hunter.


Charley Finley couldn't hold onto "Catfish" Hunter

On December 13, 1974 Seitz ruled that Finley had defaulted on a material part of the contract and that Hunter was no longer bound to the contract for 1975. In effect, Hunter had become a free agent.

The pursuit of Catfish Hunter by over twenty major league baseball teams began in mid-December 1974. Twelve teams sent representatives to North Carolina to meet with Hunter and his attorneys. Eleven more tried to do business via the telephone. After the preliminary meetings it was down to the San Diego Padres and New York Yankees. The Yankees had the advantage of being closer to Hunter’s home, and Clyde Kluttz, who originally signed Hunter for the A’s, was now working with the Yankees. The Padres could offer a half million dollars more than the Yankees, but not much else. On December 31, 1974 Hunter signed a contract worth approximately $3.75 million with the Yankees that covered five seasons. Included in the contract was a signing bonus of $1 million, a base salary of $150,000.00, a life insurance policy, and deferred compensation. At that time the next highest paid player was Dick Allen, who was making $210,000 a season.

Charley Finley’s misstep with Catfish Hunter in 1974 offered a glimpse into the future of baseball. It would be another year before the demise of the reserve clause, but Hunter’s chance to test his value on the open market was a milestone along the way.