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Yankee Stadium was the house that Babe Ruth built, and a field in Point Loma will soon be home to the field that Ruth's legacy built with an assist from retired baseball star and San Diego native David Wells.

"The first thing that came to my mind was wow," said Tre Howard, who will be on the varsity team at Point Loma High School next fall.

There is disbelief and excitement after learning that Wells sold a 1934 flannel New York Yankees cap that belonged to the legendary Babe Ruth.

Wells originally bought the cap for $35,000 and then added to its lore by wearing it during a 1997 game for one inning. Over the weekend, the cap sold at auction for a record-setting $537,278.

"I think giving back is a thing in itself," said Wells during an interview with Bloomberg TV in early May.

Wells said he was auctioning the cap to help Point Loma High School, the school he attended.

Right now, the school's field is worn out in many areas. Weeds have taken over much of the field.

"I want Point Loma to have a nice field," said Wells. "I want them to have people interested ... the community and not players going to private school."

After taxes are taken out, Wells will reportedly make a six-figure donation.

Wells, who coaches at the school, has donated equipment and funded scholarships in the past, but his decision to sell a piece of history left the school stunned.

"Having David step up as a role model in the community and for these kids… it says a lot," said athletic director John Murphy.

The renovation – which will include new seating and the Bermuda grass used at Petco Park – will cost about $175,000. It will be a joint facility with the city of San Diego. It is expected to be completed by the beginning of the school year.