From the Wire…Ricketts Officially Takes Over Cubs

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.

UpdateStatement 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.”

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