Business
Freddie Freeman's World Series walk-off grand slam baseball sells at auction for $1.56 million
A sports memorabilia auction is never as gripping as the ballgame that gave the item being auctioned immense value. But bidding for the baseball Freddie Freeman crushed for a grand slam that gave the Dodgers a walk-off victory in Game 1 of the World Series against the New York Yankees in October did generate its own brand of drama.
The ball was sold for $1.56 million Saturday night by SCP Auctions, but not before a spirited back-and-forth between bidders that extended the bidding 2½ hours beyond the initial deadline.
The money goes to the family of the 10-year-old boy who corralled the ball in the right-field bleachers at Dodger Stadium amid the delirious celebration after Freeman homered with the bases loaded in the bottom of the 10th inning, and the Dodgers one out away from defeat.
The moment will forever live among the very best in Dodgers history, rivaling Kirk Gibson’s eerily similar walk-off homer in Game 1 of the 1988 World Series. The memory will always be cherished by Zachary Ruderman and his parents, Nico and Anne. The money will be life-changing for the Venice family.
Yet it appeared the bidding wouldn’t reach seven figures when the highest offer was $800,000 with five minutes left in the weeklong auction. But a bid of $850,000 triggered a 30-minute extension, which again counted down to nearly zero before a $900,000 bid was entered.
On it went, each extension nearly expiring before the next bid was made, all the way to $1.3 million. The buyer’s premium and fees hiked the total to $1.56 million.
“It was crazy,” said David Kohler, president of SCP Auctions. “Sometimes it happens. We are thrilled at the result and are honored to handle one of the most important artifacts in World Series history.”
The record auction price for a baseball is $4.392 million, set only two months ago for the ball Shohei Ohtani hit at LoanDepot Park in Miami on Sept. 19 to become the first MLB player to hit 50 home runs and steal 50 bases in a season. The previous record of $3.05 million was paid in 1999 for Mark McGwire’s 70th home run ball from the 1998 season.
How the money from the sale of the Ohtani ball will be divided is in dispute. Max Matus filed a lawsuit in Florida’s 11th Judicial Circuit Court against the man who ended up with the ball, Christian Zacek, fellow Florida resident Kelvin Ramirez and Goldin Auctions, claiming ownership of the ball.
There is no such controversy surrounding the Freeman ball, which soared directly at Zachary Ruderman, whose avowed favorite player is Freeman and who keeps score at the frequent games his family attends.
“Everybody was on their feet, nobody was even sitting,” Zachary told The Times. “I was standing on the bleacher seat so I could see. A second or two after the crack of the bat, I realized it was coming directly toward us.
“It was honestly a reaction, an instinct.”
Everyone sitting around him was delirious with joy at the Dodgers victory, remaining at the stadium while the team celebrated on the field. Nobody tried to snatch the ball from him.
An overjoyed Zachary Ruderman holds the ball the Dodgers’ Freddie Freeman hit for a walk-off grand slam in Game 1 of the World Series on Friday.
(Nico Ruderman)
“Hundreds of people were mobbing me,” Zachary said. “So many people wanted to take a photo with me and the ball. It was overwhelming.”
Early the next morning, Zachary accompanied his mom, Anne, on a business trip. He wore a Dodgers cap and T-shirt and a flight attendant asked him if he’d watched the walk-off home run.
“Yeah,” Zachary replied, “I caught it.”
The flight attendant jumped on the plane’s public address system and announced Zachary’s great fortune to the other passengers. He stood from his seat to applause.
The most expensive MLB item ever sold at auction is Babe Ruth’s 1932 World Series jersey, which sold for $24.12 million in August 2024. The Yankees No. 3 road jersey was worn by Ruth when he hit his legendary “called shot” home run at Wrigley Field.
The identity of the new owner of the Freeman ball has not been made public. Zachary Ruderman has had his moment of fame and — now — fortune, and his family only hopes the ball will be be displayed for Dodgers fans to enjoy and reminisce.
“It’s a lot more attention than my son has ever had,” Nico Ruderman said. “People recognize him. I mean, literally everywhere we go people stop him and want to take pictures with him. He’s really actually been loving it. It’s been a fun experience for him.
“It’d be great if the ball is displayed in Dodger Stadium so fans can see this special piece of history.”
Business
Nike to Cut 1,400 Jobs as Part of Its Turnaround Plan
Nike is cutting about 1,400 jobs in its operations division, mostly from its technology department, the company said Thursday.
In a note to employees, Venkatesh Alagirisamy, the chief operating officer of Nike, said that management was nearly done reorganizing the business for its turnaround plan, and that the goal was to operate with “more speed, simplicity and precision.”
“This is not a new direction,” Mr. Alagirisamy told employees. “It is the next phase of the work already underway.”
Nike, the world’s largest sportswear company, is trying to recover after missteps led to a prolonged sales slump, in which the brand leaned into lifestyle products and away from performance shoes and apparel. Elliott Hill, the chief executive, has worked to realign the company around sports and speed up product development to create more breakthrough innovations.
In March, Nike told investors that it expected sales to fall this year, with growth in North America offset by poor performance in Asia, where the brand is struggling to rejuvenate sales in China. Executives said at the time that more volatility brought on by the war in the Middle East and rising oil prices might continue to affect its business.
The reorganization has involved cuts across many parts of the organization, including at its headquarters in Beaverton, Ore. Nike slashed some corporate staff last year and eliminated nearly 800 jobs at distribution centers in January.
“You never want to have to go through any sort of layoffs, but to re-center the company, we’re doing some of that,” Mr. Hill said in an interview earlier this year.
Mr. Alagirisamy told employees that Nike was reshaping its technology team and centering employees at its headquarters and a tech center in Bengaluru, India. The layoffs will affect workers across North America, Europe and Asia.
The cuts will also affect staffing in Nike’s factories for Air, the company’s proprietary cushioning system. Employees who work on the supply chain for raw materials will also experience changes as staff is integrated into footwear and apparel teams.
Nike’s Converse brand, which has struggled for years to revive sales, will move some of its engineering resources closer to the factories they support, the company said.
Mr. Alagirisamy said the moves were necessary to optimize Nike’s supply chain, deploy technology faster and bolster relationships with suppliers.
Business
Senate committee kills bill mandating insurance coverage for wildfire safe homes
A bill that would have required insurers to offer coverage to homeowners who take steps to reduce wildfire risk on their property died in the Legislature.
The Senate Insurance Committee on Monday voted down the measure, SB 1076, one of the most ambitious bills spurred by the devastating January 2025 wildfires.
The vote came despite fire victims and others rallying at the state Capitol in support of the measure, authored by state Sen. Sasha Renée Pérez (D-Pasadena), whose district includes the Eaton fire zone.
The Insurance Coverage for Fire-Safe Homes Act originally would have required insurers to offer and renew coverage for any home that meets wildfire-safety standards adopted by the insurance commissioner starting Jan. 1, 2028.
It also threatened insurers with a five-year ban from the sale of home or auto insurance if they did not comply, though it allowed for exceptions.
However, faced with strong opposition from the insurance industry, Pérez had agreed to amend the bill so it would have established community-wide pilot projects across the state to better understand the most effective way to limit property and insurance losses from wildfires.
Insurers would have had to offer four years of coverage to homeowners in successful pilot projects.
Denni Ritter, a vice president of the American Property Casualty Insurance Assn., told the committee that her trade group opposed the bill.
“While we appreciate the intent behind those conversations, those concepts do not remove our opposition, because they retain the same core flaw — substituting underwriting judgment and solvency safeguards with a statutory mandate to accept risk,” she said.
In voting against the bill Sen. Laura Richardson, (D-San Pedro), said: “Last I heard, in the United States, we don’t require any company to do anything. That’s the difference between capitalism and communism, frankly.”
The remarks against the measure prompted committee Chair Sen. Steve Padilla, (D-Chula Vista), to chastise committee members in opposition.
“I’m a little perturbed, and I’m a little disappointed, because you have someone who is trying to work with industry, who is trying to get facts and data,” he said.
Monday’s vote was the fourth time a bill that would have required insurers to offer coverage to so-called “fire hardened” homes failed in the Legislature since 2020, according to an analysis by insurance committee staff.
Fire hardening includes measures such as cutting back brush, installing fire resistant roofs and closing eaves to resist fire embers.
Pérez’s legislation was thought to have a better chance of passage because it followed the most catastrophic wildfires in U.S. history, which damaged or destroyed more than 18,000 structures and killed 31 people.
The bill was co-sponsored by the Los Angeles advocacy group Consumer Watchdog and Every Fire Survivor’s Network, a community group founded in Altadena after the fires formerly called the Eaton Fire Survivors Network.
But it also had broad support from groups such as the California Apartment Association, the California Nurses Association and California Environmental Voters.
Leading up to the fires, many insurers, citing heightened fire risk, had dropped policyholders in fire-prone neighorhoods. That forced them onto the California FAIR Plan, the state’s insurer of last resort, which offers limited but costly policies.
A Times analysis found that that in the Palisades and Eaton fire zones, the FAIR Plan’s rolls from 2020 to 2024 nearly doubled from 14,272 to 28,440. Mandating coverage has been seen as a way of reducing FAIR Plan enrollment.
“I’m disappointed this bill died in committee. Fire survivors deserved better,” Pérez said in a statement .
Also failing Monday in the committee was SB 982, a bill authored by Sen. Scott Wiener, (D-San Francisco). It would have authorized California’s attorney general to sue fossil fuel companies to recover losses from climate-induced disasters. It was opposed by the oil and gas industry.
Passing the committee were two other Pérez bills. SB 877 requires insurers to provide more transparency in the claims process. SB 878 imposes a penalty on insurers who don’t make claims payments on time.
Another bill, SB 1301, authored by insurance commissioner candidate Sen. Ben Allen, (D-Pacific Palisades), also passed. It protects policyholders from unexplained and abrupt policy non-renewals.
Business
How We Cover the White House Correspondents’ Dinner
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Politicians in Washington and the reporters who cover them have an often adversarial relationship.
But on the last Saturday in April, they gather for an irreverent celebration of press freedom and the First Amendment at the Washington Hilton Hotel: The White House Correspondents’ Association dinner.
Hosted by the association, an organization that helps ensure access for media outlets covering the presidency, the dinner attracts Hollywood stars; politicians from both parties; and representatives of more than 100 networks, newspapers, magazines and wire services.
While The Times will have two reporters in the ballroom covering the event, the company no longer buys seats at the party, said Richard W. Stevenson, the Washington bureau chief. The decision goes back almost two decades; the last dinner The Times attended as an organization was in 2007.
“We made a judgment back then that the event had become too celebrity-focused and was undercutting our need to demonstrate to readers that we always seek to maintain a proper distance from the people we cover, many of whom attend as guests,” he said.
It’s a decision, he added, that “we have stuck by through both Republican and Democratic administrations, although we support the work of the White House Correspondents’ Association.”
Susan Wessling, The Times’s Standards editor, said the policy is a product of the organization’s desire to maintain editorial independence.
“We don’t want to leave readers with any questions about our independence and credibility by seeming to be overly friendly with people whose words and actions we need to report on,” she said.
The celebrity mentalist Oz Pearlman is headlining the evening, in lieu of the usual comedy set by the likes of Stephen Colbert and Hasan Minhaj, but all eyes will be on President Trump, who will make his first appearance at the dinner as president.
Mr. Trump has boycotted the event since 2011, when he was the butt of punchlines delivered by President Barack Obama and the talk show host Seth Meyers mocking his hair, his reality TV show and his preoccupation with the “birther” movement.
Last month, though, Mr. Trump, who has a contentious relationship with the media, announced his intention to attend this year’s dinner, where he will speak to a room full of the same reporters he often derides as “enemies of the people.”
Times reporters will be there to document the highs, the lows and the reactions in the room. A reporter for the Styles desk has also been assigned to cover the robust roster of after-parties around Washington.
Some off-duty reporters from The Times will also be present at this late-night circuit, though everyone remains cognizant of their roles, said Patrick Healy, The Times’s assistant managing editor for Standards and Trust.
“If they’re reporting, there’s a notebook or recorder out as usual,” he said. “If they’re not, they’re pros who know they’re always identifiable as Times journalists.”
For most of The Times’s reporters and editors, though, the evening will be experienced from home.
“The rest of us will be able to follow the coverage,” Mr. Stevenson said, “without having to don our tuxes or gowns.”
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