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Bench Warmer
The sale of the Chicago Cubs, Wrigley Field and other assets from the Tribune Co. to the Ricketts family is complete.
The Ricketts family said Tuesday that it has taken a 95 percent controlling interest in the baseball franchise, its storied ballpark and 25 percent of Comcast Sportsnet.
The deal is valued at $845 million. Billionaire Joe Ricketts is the founder of Omaha, Neb.-based TD Ameritrade.
After taxes and fees, Chicago-based Tribune, which owns newspapers and TV stations, expects to reap about $740 million from unloading most of its stake in the baseball team. Tribune will maintain a 5 percent stake.
Tom Ricketts, 44, who will serve as board chairman, said the board "will go to work building the championship tradition that all Cubs fans so richly deserve."
A news conference was scheduled for Friday at Wrigley Field.
The Ricketts family said Tuesday that it has taken a 95 percent controlling interest in the baseball franchise, its storied ballpark and 25 percent of Comcast Sportsnet.
The deal is valued at $845 million. Billionaire Joe Ricketts is the founder of Omaha, Neb.-based TD Ameritrade.
After taxes and fees, Chicago-based Tribune, which owns newspapers and TV stations, expects to reap about $740 million from unloading most of its stake in the baseball team. Tribune will maintain a 5 percent stake.
Tom Ricketts, 44, who will serve as board chairman, said the board "will go to work building the championship tradition that all Cubs fans so richly deserve."
A news conference was scheduled for Friday at Wrigley Field.
