RBC and Babe Ruth: A Piece of RBC History

Did you know our parent company—Canada’s largest retail bank—is associated with the destiny of one of the greatest baseball players of all time?

It’s true. And the two iconic names who over time became institutions in their industry (one a sports legend, the other a global financial leader) are forever connected by their reputations for strength. Today, one is remembered for his brashness, the other is renowned for its integrity.

George Herman “Babe” Ruth, Jr., nicknamed “the Great Bambino” and “the Sultan of Swat,” was already a rising star when he was traded by the Boston Red Sox to the New York Yankees for $100,000 – a price unheard of for a professional athlete in 1919.

At the time, the Yankees didn’t have much of a winning tradition. But over his 15-year career with the team, “the Babe” helped transform the club. During his time wearing a Yankees uniform, the team won seven league championships and four World Series championships. By the end of his career, Ruth had hit a record 714 home runs, a record that would not be broken until 1974.

And, this was made possible, in part, thanks to a promissory note created by the resourceful Canadian bank that was also steadily becoming a powerhouse.

On July 12, 2014, a day after the 100th anniversary of Babe Ruth’s major league debut, Goldin Auctions sold a piece of paper relating to what may be one of the most famous transactions in baseball history.

This auction contained one of the three promissory notes with a face value of $25,000 that was used to make the trade that changed history. Clearly visible on the note is the name of the bank that held the funds and put together the note: Royal Bank of Canada (RBC).

This old piece of paper from December 30, 1919 was purchased by a collector for $151,250. The note reflects the long-standing presence of RBC in the United States and is another part of our long and cherished history.

Today, as in 1919, we continue to serve millions of clients in over 100 countries worldwide. And we are proud to continue to make history through our reputation for trust, expertise and service.

Source & Photo Courtesy Of: Goldin Auctions

Important disclosure information about Royal Bank of Canada (RBC) and RBC Capital Markets, LLC