It is one of the most anticipated dates on the baseball calendar; the July 31 trade deadline. That day when teams make the move they think will help them make it to the postseason. Why does such a deadline exist? Well, you can thank the New York Yankees and the Boston Red Sox for it. They made a trade that caused quite the hubbub because of the timing of it.
On July 23, 1922, the Yankees found themselves locked in a tight pennant race with the St. Louis Browns. So the Yankees acquired third baseman Joe Dugan from the Boston Red Sox for four players and $50,000.