Also in 1947, Chandler sold the rights to broadcast the World Series on the radio for $475,000 and used the money from the contract to establish a pension fund for baseball players. In 1949, Chandler negotiated a seven-year contract with Gillette and the Mutual Broadcasting System to broadcast the Series. Proceeds from the $4,370,000 deal went directly into the pension fund. The same two companies negotiated a six-year, $6 million contract to broadcast the Series on television in 1950. Again, Chandler directed the proceeds into the pension fund.