Tribune To Sell Control Of Cubs, Wrigley Field To Ricketts Family For $845 Million

Wrigley Field

After a tortured bidding process dating back more than two years, the bankrupt Tribune Co. is selling the Ricketts family 95 percent of the Chicago Cubs and iconic Wrigley Field for about $845 million — pending approval by Major League Baseball and a federal bankruptcy court. The deal, which would leave Tribune with a 5 percent stake in the joint venture, includes the company’s 25 percent share in Comcast (NSDQ: CMCSA) SportsNet. As part of the court process, Tribune said late Friday afternoon that the entity that holds most of the Cubs assets will file for Chapter 11 bankruptcy so “that the franchise can emerge free and clear of Tribune Company

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