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Rumor: Ricketts Will Land Chicago Cubs PDF Print E-mail
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Written by Maury Brown   
Monday, 15 September 2008 14:15
Sale of the Cubs

 File this under rumor…

Word on the street is that Thomas Ricketts and the Ricketts family are the winning bidders for the Chicago Cubs, Wrigley Field, and a 25 percent stake in ComcastSports Chicago. Thomas Ricketts is the chief executive of Chicago investment bank Incapital LLC, His father, Joe Ricketts, is the founder of TD Ameritrade Holding Corp.

Word also is that the announcement will come 2 days after the end of the World Series.

One bit of news over the weekend that may bear this out was Steve Stone signing as color analyst for the Chicago White Sox for the 2009 season. Stone was interested in minority ownership in the Cubs, and his new deal with the crosstown White Sox may indicate he see Ricketts landing the Cubs.

What is unknown is how the approval process by MLB will play out.

Ownership transfer must be approved by ¾ of the owners, as well as by a vote of the Executive Committee. There have been concerns that the debt structure proposed by the Tribune Co. would saddle the new owner with excessive debt that would impact player payroll in the future.

MORE ON THE SALE OF THE CHICAGO CUBS


Maury Brown

Maury Brown is the Founder and President of the Business of Sports Network, which includes The Biz of Baseball, The Biz of Football, The Biz of Basketball and The Biz of Hockey. He is contributor to Baseball Prospectus, and is available as a freelance writer.

Brown's full bio is here. He looks forward to your comments via email and can be contacted through the Business of Sports Network.

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