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Ricketts family to buy Cubs for $845 million

Posted On: Sat Aug 22, 09 4:23 PM

CHICAGO (AP)—A billionaire brokerage family will attempt what a newspaper publisher and a chewing-gum dynasty failed to do: Break baseball’s longest World Series drought.

The Rickettses, longtime Cubs fans whose wealth comes from family-owned Ameritrade, signed an agreement Friday to buy a 95 percent stake of the team and its Wrigley Field home from Tribune Co. The $845 million deal also includes Tribune’s approximately 25 percent share of regional cable TV network Comcast SportsNet Chicago.

The deal, which requires approval by a bankruptcy court judge and Major League Baseball, may not help deliver a title to a profitable but hapless franchise that last won the big one in 1908. But the new owners can’t do any worse, championship-wise, than Tribune has during a 28-year stewardship or the Wrigley family during its 60 years at the helm.





LINK: http://sports.yahoo.com/top/news;_ylt=AomalAcU55Qae7JWdcaQPXkRvLYF?slug=ap-cubssale&prov=ap&type=lgns
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