Media conglomerate Tribune Co. announced a definitive agreement Friday to sell all but a 5 percent stake in the Chicago Cubs and Wrigley Field to the billionaire Ricketts family, capping a tortuous selection process that began nearly 2 years ago. Tribune valued the transaction at about $845 million.
The sale figure exceeds the record $660 million paid for the Boston Red Sox in 2002 by a group headed by John Henry, although that deal did not include a ballpark.
"Our family is thrilled to have reached an agreement to acquire a controlling interest in the Chicago Cubs, one of the most storied franchises in sports," said Joe Ricketts, who founded the Omaha, Neb.-based online brokerage TD Ameritrade Holding Corp.
"We look forward to closing the transaction so that we can begin leading the Cubs to a World Series title," Ricketts said.
http://www.npr.org/templates/story/story.php?storyId=112123833&ft=1&f=1001
The sale figure exceeds the record $660 million paid for the Boston Red Sox in 2002 by a group headed by John Henry, although that deal did not include a ballpark.
"Our family is thrilled to have reached an agreement to acquire a controlling interest in the Chicago Cubs, one of the most storied franchises in sports," said Joe Ricketts, who founded the Omaha, Neb.-based online brokerage TD Ameritrade Holding Corp.
"We look forward to closing the transaction so that we can begin leading the Cubs to a World Series title," Ricketts said.
http://www.npr.org/templates/story/story.php?storyId=112123833&ft=1&f=1001