CHICAGO – Tribune Co. has reached a long-awaited definitive agreement to sell the Chicago Cubs and Wrigley Field to the billionaire Ricketts family.
The announcement came Friday, nearly 2 1/2 years after the marquee baseball franchise and historic ballpark were put up for sale. Tribune said it is selling all but a 5 percent stake, for about $845 million.
The Ricketts family founded online brokerage TD Ameritrade Holding Corp. and was led in the Cubs bid by Chicago investment banker Tom Ricketts, the son of company founder Joe Ricketts.
Tom Ricketts is a die-hard Cubs fan who met his wife in the bleachers at Wrigley Field.
The sale includes a 25 percent stake in Comcast SportsNet Chicago, which broadcasts many Cubs games. It must still be approved by Major League Baseball.