From the press release:
The Ricketts family has signed a definitive agreement with Tribune Company to acquire a 95 percent interest in the Chicago Cubs National League Baseball Club, Wrigley Field and Tribune’s approximately 25 percent interest in Comcast SportsNet (CSN) in a transaction valued at $845 million. The Ricketts family will have management control of the joint venture as its 95 percent owner. Tribune will retain a five-percent ownership interest.The deal must still be approved by a bankruptcy judge.
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1 comment:
I don't understand the sales process of MLB teams. Mark Cuban was rejected as being acceptable by the league owners and Bud Selig, even though he could have put in the highest bid. But man was this sale dragged out a long time.
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