Cubs Are Sold!

According to the Chicago Sun-Times, the Rickets Family has won the bidding to buy the Chicago Cubs. Rickets is believed to have offered $900 million for the franchise, Wrigley Field, and 25% of Comcast Sports Net.

Dave Roeder of the Sun-Times was on Sports Central to Chat with Kap about the sale:

• Kap confirmed that the Cubs are sold. He received a statement from Rickets confirming this.
• Roeder says that the Tribune could still go back to someone else, but for now they have committed to going with Rickets.
• He said that there are a lot of issues to sort out with the sale.
• Rickets met his wife in the bleachers at Wrigley.
• Dave thinks he could be the type of owner that MLB likes. Rickets has to get the approval of 75% of MLB owners.
• Roeder thinks it will be interesting to see how a deal like this will be worked out with the economy like it is.
• Tom Rickets "bleeds Cubbie blue".
• Roeder said that Rickets and the other top bidders wanted the control of the ballpark as well as the team.
• The deal is not yet finalized with the Tribune, and after it is Rickets will have to get approval from Major League Baseball.
• Roeder says that the bankruptcy of the Trib shouldn't derail this process.
• Dave thinks that the whole process will not be done by Opening Day.
• If Sam Zell had moved quicker and sold the team before the economy crisis they could have got over a billion.

Check out Rickets profile here.

-Or here.

I'll keep you posted.