SCP Auctions says the $4,415,658 price paid for the jersey at an auction over the weekend broke the previous record of $4,338,500 in 2010 for James Naismith's founding rules of basketball. It is now the most money ever spent for any sports memorabilia item.
Lelands.com said it submitted the winning bid for the jersey, which had been displayed for years at The Babe Ruth Birthplace Museum in Baltimore. Suzan French, a spokeswoman for Lelands.com, said the company plans to sell the jersey privately rather than re-auction it.
The road top has "New York" written across the front. Ruth wore the jersey shortly after he was sold to the Yankees by the Boston Red Sox for $100,000 following the 1919 season.
The Associated Press contributed to this report.