The new baseball contract was signed on Dec. 14, 1988.
Carnegie, who turned down professional baseball contracts before, had to think about the deal before announcing his decision.
The reserve clause had been part of baseball contracts since the game's early days.
He was signed to a professional baseball contract at the age of 17 with the Chicago Cubs in 2007.
Tony, offered a pro baseball contract from the Yankees, decided to try to fulfill his father's dreams.
"He absolutely was not going to sign a baseball contract," Michael said.
After high school, he turned down a professional baseball contract with the Chicago Cubs.
But it lost the bidding for this year's Summer Olympics and the national baseball contract.
In all, 92 of his former players wound up signing professional baseball contracts.
Athletes often sign pro baseball contracts while continuing to play college basketball or football.