The Chicago Tribune has the breaking news:
Tribune Co. has reached a deal to sell the Chicago Cubs and Wrigley Field to the Ricketts family, a source familiar with matter said this morning.
The two sides finalized a sale agreement over the weekend and have forwarded the contract to Major League Baseball, the source said.
Baseball owners must still approve the deal, and, with the Tribune Co. operating under Chapter 11 bankruptcy, the court must also approve.
$900 million. Makes me shake my head and to consider where organized sports have gone. Imagine, Arthur J. Rooney bought his NFL franchise, which he named the Pittsburgh Pirates, for $2500 in 1933. Three years later he won huge at the track and paid some bills to help keep the franchise afloat. He renamed the team Pittsburgh Steelers in 1940.
I know that’s random trivia, but I think of AJR’s $2500 investment every time I hear of these “big money” sports deals.
Oh, the Cubs? $900 million? Will they finally be able to purchase success?
Maybe next year…