7/6 Cubs sale
The Cubs may have a new owner soon. According to the Chicago Tribune website, Tribune Co. apparently has reached a deal to sell the Cubs and Wrigley Field to the Ricketts family, a source familiar with matter said Monday.
The two sides finalized a sale agreement over the weekend and have forwarded the contract to Major League Baseball, the source told the newspaper.
The deal must be approved by other baseball owners. With Tribune Co. operating under Chapter 11 bankruptcy, the sale also will need court approval.
The source said the sales price is “close” to the $900 million bid the Ricketts family offered earlier this year that won an auction for the baseball team, stadium and a 25 percent stake in Comcast SportsNet Chicago, a regional cable television sports network.
– Carrie Muskat