 In 1916 , Harry Frazee purchased the Red Sox , on credit , for $ 500 @,@ 000 . Despite Ruth 's success with the Red Sox , owner and Broadway producer Frazee lost his patience with Ruth , who had threatened to hold out in lieu of a larger contract and become a distraction . After the Red Sox finished sixth in the American League in 1919 , Frazee , needing money to finance a Broadway musical , No , No Nanette , sold pitcher @-@ turned @-@ outfielder Babe Ruth to the Yankees . Frazee received $ 125 @,@ 000 and a loan of $ 300 @,@ 000 — secured on Fenway Park , the Red Sox ' home stadium — for Ruth , despite Ruth having set the record for home runs with 29 in 1919 . This began a series of deals with the Yankees that resulted in a long period of mediocrity for the Red Sox while the Yankees began their dynasty . 
