Cubs Sale to Ricketts Family "Imminent"

By Steve Bryant
|  Thursday, Aug 20, 2009  |  Updated 5:30 PM CDT
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Cubs Sale to Ricketts Family "Imminent"

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The sale of the Cubs to the Ricketts is "imminent", say sources.

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Going, going ... almost gone!

The sale of the Cubs to the Ricketts family is "imminent," according to the Trib.

More than a month after the Cubs' owner, The Tribune Company, agreed to sell to the Rickettses, the deal is close to closure. Sources tell the Trib the sale could close within days.

Tribune Co. selected the Rickettses as the winning bidder of a protracted auction in January, but then opened discussions with another potential buyer several weeks ago when the final negotiations with the Ricketts stalled.

But now the deal's back on.

The Rickettses have agreed to pay about $900 million for the team, Wrigley Field, and a 25 percent stake in Comcast SportsNet Chicago, which broadcasts many Cubs games, says the Trib.

Tribune Co. bought the team and the stadium for about $20 million in 1981 from the Wrigley family.

Under the sale structure to the Ricketts family, Tribune Co. would retain about a 5 percent stake in the Cubs assets.

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