Yet another "what's this"

[AHI in AR]

OK...a chance to show off what ya know. I found this on the garage ceiling of a circa 1965 home this afternoon. It says " New York Everlast S.P. MFG." or similar. The center section around the ball is about 2.25" and is threaded. I removed it, and there is nothing behind it. All it does is restrain the ball. The ball is about 3/4" diameter, with holes in it, one of which is threaded and has a set screw in it.

A quick Google search didn't turn up anything but fitness equipment. Is this a doohickey to hang a punching bag from?

Image Insert:

342.79 KB

[Inspectorjoe]

Speed Bag Central

[Brandon Whitmore]

Definitely for a speed bag, the question is why is it on the ceiling? Way too high unless the puncher's head is nearly rubbing the ceiling.