It’s official – The Rickets Family’s purchase of the Chicago Cubs is finally done. Hip Hip Hooray!
The Ricketts Family now owns a 95% stake in the Chicago Cubs franchise, Wrigley Field, and 25% of Comcast Sportsnet. The deal was worth approximately $845 million. The Tribune Co. will still retain a 5% interest in the Chicago Cubs franchise, and after applicable taxes and fees, will bring in approximately $745 million.
Joe Ricketts – the patriarch of the Ricketts Family – is the founder of TD Ameritrade, an Omaha, Nebraska based brokerage firm. Tom Rickets, one of Joe’s sons, will serve as the Chicago Cubs new Board Chairman. Rickets wrote in a statement release to the press that the Board “will go to work building the championship tradition that all Cubs fans so richly deserve.”
The Chicago Cubs have scheduled a Friday news conference at Wrigley Field announcing the closing of the sale to the Ricketts Family. At last…