Babe Ruth's contract with the Boston Red Sox in 1918 was for only $5,000, but at an auction Saturday night, the document itself sold for $1.02 million.

The contract was signed by Ruth, American League president Ban Johnson and Red Sox owner Harry Frazee, who famously agreed to sell Ruth to the New York Yankees in December 1919.

The $1.02 million winning bid Saturday night represents the highest price ever paid for a sports contract, surpassing the record previously held by the document that sent Ruth to the Yankees, which sold for $996,000 in 2005.

The New Jersey-based Goldin Auctions said the person who bought the contract wished to remain anonymous.

The auction took place at the Sports Legends Museum in Baltimore and was meant to coincide with the 100th anniversary of Ruth's major league debut this weekend.