(KTLA) — A piece of one of the most significant moments in American sports history is expected to fetch tens of millions of dollars when it heads to auction this summer.

Heritage Auctions is preparing to list the New York Yankees No. 3 road jersey worn by the immortal Babe Ruth in Game 3 of the 1932 World Series in Chicago — the game remembered for the “called shot,” arguably the most well-known moment in Major League Baseball history.

On Oct. 1, 1932, in the fifth inning of a tied ball game, Ruth famously held his bat in the air and pointed, possibly to the outfield, just moments before hitting a home run to that very spot.

It was the first pitch of the day thrown by Cubs pitcher Charlie Root and one he’d wished he could take back. Instead it became one the world would never forget.

The ball was launched out of the park, breaking the tie with the Chicago Cubs and further cementing Ruth’s legacy as one of the greatest to ever take the plate.

Announcers at the time famously referred to the home run as Ruth’s “called shot,” alleging that the baseball Hall of Famer predicted the hit and signaled to a crowd of raucous Cubs supporters who had been heckling him all game that the end was nigh.

The Yankees would go on to sweep the Cubs, securing the club its fourth title. It would also be the final home run Ruth would ever hit in a World Series game.

President Franklin Delano Roosevelt, then the governor of New York, was in attendance for the game, as was Supreme Court Justice John Paul Stevens, who was 12 at the time.

The story of Ruth’s “called shot” spread like wildfire in a time when there were few sports publications and even fewer cameras around to document important moments in history.

Ninety years later, the moment continues to be recreated and mimicked in film and television and by kids at neighborhood baseball diamonds around the globe.

It’s long been debated if Ruth actually called his most famous home run, or if he simply embraced the mythos.

But, Heritage Auctions says one thing is for certain: The jersey he wore that day is still intact and ready for its next owner.

The auction site says Ruth gifted the jersey to a man in Florida following a round of golf. It was then passed down to the man’s daughter who held onto it until it was auctioned for the first time 20 years ago.

It’s only recently been “photo-matched” to confirm its authenticity, officials said.

MeiGray Authenticated matched the jersey to Game 3 of the 1932 World Series using two photos from Getty Images and a third from the Chicago Daily News. In one of those images, Ruth is photographed with fellow baseball legend Lou Gehrig and then-Yankees manager Joe McCarthy.

Chris Ivy, director of sports auctions at Heritage, said the “called shot” jersey is the most significant piece of American sports memorabilia to be offered at auction in decades.

“Given its history, its mythology, we expect that when the final bid is placed, it will hold the record as the most expensive sports collectible ever to cross the auction block,” Ivy said.

The current record is held by another Yankees legend, Mickey Mantle, whose mint condition 1952 Topps baseball card sold for $12.6 million through Heritage in August 2022.

Ivy told ESPN that Ruth’s jersey could fetch upward of $30 million.

The jersey is part of Heritage’s upcoming Summer Platinum Night Sports Auction, which takes place Aug. 22-25.

Among the other priceless collectibles include a set of golf clubs used by President Dwight D. Eisenhower, a used and signed bat from MLB slugger Barry Bonds and a game-worn jersey by another groundbreaking baseball icon: Jackie Robinson.

Items from this upcoming auction can be viewed in person at Heritage Auctions’ New York office in Manhattan. To read more about the iconic Babe Ruth jersey and the other items included in the upcoming auction, click here.