'Naismith's Rules' Fetch $4M At Auction
NEW YORK (AP) - A historic document that details the original rules of basketball has been sold for more than $4 million at a New York City auction.
Sotheby's offered the Naismith Rules on Friday as part of a sale of historic documents.
James Naismith wrote the 13 rules nearly 119 years ago. The physical education instructor invented basketball as a winter activity for a YMCA in Springfield, Mass.
The document is typed, but also contains handwritten notes.
It was sold to raise money for the Naismith International Basketball Foundation. It promotes sportsmanship and provides services to underprivileged youths around the world.
The sale price of $4.3 million includes a buyer's premium.
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