Each season, one
American League (AL) team wins the
pennant, signifying that they are the league's champion and have the right to play in the
World Series against the champion of the
National League. The pennant was presented to the team with the best
win–loss record each year through the 1968 season, after which the
American League Championship Series (ALCS) was introduced to decide the pennant winner. The first modern World Series was played in 1903 and, after a hiatus in 1904, has taken place in every season since except 1994, when a
players' strike forced the cancellation of the
postseason. The current American League pennant holders are the
Kansas City Royals, who won their fourth pennant in October 2015.