Now it's official
Really, truly official
Tom Ricketts takes charge
Dad founded Ameritrade
Time for Bradleytrade?
The Cubs "settled" on the Ricketts deal in January. It was "finalized" in July. Then it was "official" - but not really official - in August. A bankruptcy filing was made earlier this month to "speed things along".
Now it's officially official.
The $845 million sale of the Chicago Cubs, Wrigley Field and other assets from the Tribune Co. to the Ricketts family was completed Tuesday, more than 2½ years after the baseball franchise was put on the market.
The family of billionaire Joe Ricketts, the founder of Omaha, Neb.-based TD Ameritrade, takes a 95 percent controlling interest in the baseball franchise, its storied ballpark and 25 percent of Comcast Sportsnet, which broadcasts many Cubs games.
After taxes and fees, Chicago-based Tribune, which owns the Chicago Tribune, Los Angles Times, other newspapers and TV stations, expects to reap about $740 million from the deal. Family members Pete, Tom, Laura and Todd Ricketts will control the team as its board of directors, though Tribune retains a 5 percent stake and will have a seat on the board.
We'll hear more about what the new boss is planning on Friday, when a Wrigley Field news conference has been scheduled. I'm not sure he'll take the advice from my haiku, but like most Cubs fans, I think it's a good thing that a baseball fan - instead of a media company - is now in charge.