Cubs Sale to Ricketts Family Close, No Cigar Yet
By ZACH CHRISTMAN
Updated 12:57 PM PST, Fri, Jul 10, 2009
The Tribune Co.'s deal to sell the Cubs to the Ricketts family is closer than ever, but not quite done yet, sources told NBC Chicago.
That's despite a Tribune report Monday morning that the deal had been finalized.
"Both sides felt the deal was close enough to share the transaction documents with the MLB office, but there are still a few items being negotiated," an unnamed source told NBC Chicago.
According to an official statement by the Tribune Co., there are still some details to work out.
"We continue an active dialogue with the Ricketts family with an eye toward reaching a definitive agreement. We don’t intend to comment on the specifics of any potential transaction."
-- Gary Weitman, Tribune Co.
The deal still must be approved by MLB owners, and it will also need court approval since the Tribune Co. is in bankruptcy. MLB owners won't meet again until late August, at which time they could review the sale.
Investment banker Tom Ricketts is reportedly wants to buy the team, Wrigley Field and a stake in Comcast SportsNet for "close" to $900 million.
Ricketts has said he and his family are Cubs fans who share the dream of seeing the team win a World Series.
What do you think of the sale? Sound off in the comments field below.
First Published: Jul 6, 2009 8:36 AM PST
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