According to reports from the Chicago Tribune, the Ricketts Family officially took over control of the Chicago Cubs Tuesday morning. As expected, the final hurdle in the bankruptcy case passed through on Monday.
Tom Ricketts is expected to be formally announced during a press conference on Friday at Wrigley Field.
Updated 8:05pm C.T. - With Statement from Tom Ricketts
THE TRIBUNE ERA IS OFFICIALLY OVER.
Will update with additional information as it becomes available.
Update - Statement from Tom Ricketts
Tuesday, October 27, 2009 (CHICAGO) -- The Ricketts family says it's official; the family has taken a 95 percent controlling interest in the Chicago Cubs, Wrigley Field and 25 percent of Comcast Sportsnet after a financial closing today.Tom Ricketts, 44, will serve as board chairman and issued the following statement:
"My family and I are thrilled that this day has finally come and we thank Commissioner Bud Selig and Major League Baseball owners for approving our ownership. Now we will go to work building the championship tradition that all Cubs fans so richly deserve.
It's fitting that this closing takes place during World Series week. Out of respect for the Fall Classic, and at the league's request, we will wait to introduce ourselves to the media and fans until this Friday, a travel day in the series between the Phillies and the Yankees."
FINALLY!! Take us to the promised land Mr. Ricketts.
The Red Letter Day in Cubs History is finally here!!!! Yeah Yeah Yeah!!!!
Sam Zell...go back to wherever you came from.
It's kind of amazing though...the Tribune bought the Cubs for 20.5 million.
...about what Milton makes to dis the fans/organization/city...and throw the ball in the stands after 2 outs.
(That one play is seared in my mind).
Well, I'm sure it won't all be rosy...but here's to better days!!!!
GO CUBS !!!
Man......it's about time!!! Thanks Chicago Tribune for absolutley nothing, just a mishandle of a lucrative franchise.....oh and heartaches for 101 years! Let's go Ricketts.....use your brains!
Go Cubs!!
This is a day for Cubs fans to celebrate!!
If I were still in Chicago I'd start by buying a copy of the Sun-Times instead of the Tribune.
Can't wait for the next few weeks to shake out with the organizational meetings and such.
This is a very special day for Cubs fans indeed...something that finally justifies the never ending hope of Cubs fans. Hopefully good riddance to the woefully inept last 64 years or so and Tribune Company...See Ya!
A positive day for Cub fans, and I'm optimistic. I'd be a lot more excited if Rickett's first ownership action was firing Hendry, Pinella and Rothschild. Until then, it's still feels like the same leadership idiots.
Bryan,
Don't hold your breath on that one.
Delighted about the takeover but I'm disappointed with their rhetoric towards Pinella and Hendry, the new owners have given them a free pass over the debacle that was last season.
Finally! I know things will not change over night, but so far Mr. Ricketts is saying all the right things. I look forward to the press conference on Friday and seeing the direction this awesome franchise will go. Just to hear the word Championship thrown around by the number one face of the franchise in Tom Ricketts gives me chills! Go Cubs!
I too am hopeful.
That being said...
I was hopeful up until the 6th inning on Sep. 8, 1969.
I was hopeful up until the 7th inning on Oct 7, 1984.
I was hopeful up until the 5th inning on Oct. 8, 1989.
I was the most hopeful up until the 8th inning on Oct. 14, 2003.
I was hopeful up until the 7th inning on Oct. 3, 2007.
I was hopeful up until the 5th inning on Oct. 1, 2008.
I was hopeful up until Bradley...
Well I think you get the idea.
John G.
Good points! Me too....but I wasn't born until 1974. I'm totally with ya!
Somebody had to bring everyone else back down to earth. And Aaron isn't here.
If there was no hope it wouldn't be as much fun to be along for the ride! Here's to next year.
But what do you expect,
When you raise up a young boys hope
And then just crush 'em like so many paper beer cups.
Year after year after year
after year, after year, after year, after year, after year
'Til those hopes are just so much popcorn
for pigeons beneath the "EL" track to eat
John G. Do I expect to win the World Series this upcoming season?...NO.
Do I expect the organization to change overnight? ...NO.
But we do have a brand new owner...that owner will have warts as well as shiny armor...and changes will be made accordingly.
We have not only an astute business family...but also a fan like ourselves at the helm now...and that is reason for true hope.
In our lifetimes, we have never had an
energized fan/owner with a shrewd business sense.
We had the corporate goliath (now down to pintsize) and we had the son of an energized and beloved owner...that was cheap...and did not care if the Cubs won or not.
This can be huge.
New Beginnings!!! A New Future!! Look for the Cubs to build an $80 million 15,000 seating capacity stadium in a new spring training complex in Naples, FL by 2012. How many of you know that 15 out of the last 18 World Series Champions have spring training in FL? Where do the Phillies and Yankees train? Yes, on the west coast of FL
Will have more, with details later, but Bruce Levine mentioned Vernon Wells and Milton Bradley ...
From Levine: "The Cubs have talked to Toronto about different scenarios that may include players like Vernon Wells and Bradley."
The Hot Stove is about to kick into high gear!
Neil, actually Levine got it wrong. A good friend of mine in the Blue Jay's front office said that when Hendry called he was proposing a trade of Bradley for George Bell. Everyone in Toronto laughed and hung up the phone. Apparently Hendry threw a temper tantrum and stormed off to his room and has been there ever since.
Good stuff ... dust off number 11.
We might be better off if he did that RynoTiger.
Wells is due 101.5 million through 2014.
Unless we have a taker for Soriano...
that's 191.5 mill (almost 40 mil per year)...to 2 underperforming outfielders.
Kudo's to Aaron for identifying Wells
as a possible bad contract trade...but that was for a Soriano/Wells package.
Leave it to Hendry to increase the Cub's committment by 80 million and 3 years...
just to dump Milton.
Little Sarge wants out of Anaheim.
I'm telling you the Cubs will trade Bradley and others to Anaheim for Mattherws Jr and others.
Neil,
Any Cubs rumors with respect to Bedard? JH has liked Bedard for years. Bedard also is the risky, high upside type that JH likes to gamble on. Seems like a good match.
David...not yet. But for the reasons you mentioned I am waiting.
FINALLY!!!!!!!!
Words can not explain how happy I am right now.