Tribune Co. Agrees To Sell Cubs, Wrigley Field
POSTED: Friday, August 21, 2009
UPDATED: 4:21 pm CDT August 21, 2009
CHICAGO -- Tribune Co. has reached a long-awaited definitive agreement to sell the Chicago Cubs and Wrigley Field to the billionaire Ricketts family.
The announcement came Friday, nearly 2½ years after the marquee baseball franchise and historic ballpark were put up for sale. Tribune said it is selling all but a 5 percent stake, for about $845 million. The Ricketts family founded online brokerage TD Ameritrade Holding Corp. and was led in the Cubs bid by Chicago investment banker Tom Ricketts, the son of company founder Joe Ricketts.
Tom Ricketts is a die-hard Cubs fan who met his wife in the bleachers at Wrigley Field.
The sale includes a 25 percent stake in Comcast SportsNet Chicago, which broadcasts many Cubs games. It must still be approved by Major League Baseball.
Copyright 2009 by The Associated Press. All rights reserved. Tribune Co. Agrees To Sell Cubs, Wrigley Field - Money News Story - KSAT San Antonio