The Ricketts Family Wins Bid to Purchase the Cubs

According to a report from the Chicago Sun-Times, the bid that was endorsed by the Tribune Co. was from The Ricketts Family.

“One person familiar with the process said the endorsed bid was Thomas Ricketts.”

Ricketts is believed to have offered $900 million for the Cubs franchise, Wrigley Field and 25% stake in Comcast SportsNet.

Updated – 10:20pm C.T.According to multiple reports, The Ricketts Family has been selected for exclusive negotiations to buy the Chicago Cubs.

The sale is far from completed, but this is a big first step for the Cubs to have a new owner. Updated with Statement from the Ricketts Family

The Sun-Times is reporting an unnamed source and a Tribune representative was not available for comment.

Updated – 10:20pm C.T.Statement from the Ricketts Family and a Quote from the Tribune:

The Tribune Company has informed us today that our family has been selected for exclusive negotiations to buy the Chicago Cubs.

We would like to thank the Tribune Company for overseeing a fair and competitive process and we look forward to working with the Tribune and Major League Baseball to close the transaction promptly.

We will have more to say publicly when this process is completed. If we succeed in buying the team, our work will just be beginning.

From the Tribune:

“My family and I are Cubs fans,” said Tom Ricketts, the family’s point person in the Cubs purchase. “We share the goal of Cubs fans everywhere to win a World Series and build the consistent championship tradition that the fans deserve.”

thomasricketts.jpg

Tom Ricketts

Quote of the Day

"The two most important days in your life are the day you are born and the day you find out why." - Mark Twain
Share on Fancred