The Chicago Cubs are asking non-players to sign an agreement giving the team the right to buy back World Series rings for $1 in an effort to discourage employees from selling them.
"I signed that thing willingly," Jed Hoyer said. "Everyone except for the players signed it. I look at it as the Ricketts [ownership] were so unbelievably generous in the cost of the ring and the number they gave out, I think it's totally appropriate when you're paying for the ring and helping out with the taxes along with that -- it seems appropriate to say, 'I don't expect you to take the gift I'm giving you and run out to the market with it.'"
The Cubs gave out 1,908 rings and pins in the wake of their historic World Series win.
Players will have to pay taxes on their rings based on their fair market value, but the team is taking on the taxes for many lower-level employees.