The baseball could symbolize Scotty's father's lost youth.
We can reach this conclusion because:
- "Sandlot," tells the story of Scotty, a boy who joins the baseball team, even though he doesn't have much talent.
- Scotty damages the only baseball on the team and sneaks his father's baseball so the team can play.
- Scotty's father has a strong attachment to this baseball, because of the signature it has on it and the memories it presents.
- However, Scotty ends up losing this baseball and enlists the help of friends to retrieve it before his father notices.
The baseball has a strong meaning as it symbolizes Scotty's father's youth, which was lost over time, but existed, along with all the adventures and loves that Scotty's father went through.
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