The majority owners of the Chicago Cubs, the Ricketts family, may begin to offer sales of minority ownership shares for the North Side baseball team. Both Crain's and the Sun-Times are reporting that the obvious reason for the family to considering doing this would be to raise big dollars for the team's $500 million renovation plan for Wrigley Field, but could it perhaps signal that the Ricketts may be ready to start selling off their interest in the team until one day they can completely bail themselves out and leave the Cubs in the hands of someone else? The Ricketts own 95% of the team, which is currently valued at $1.2 billion, making the Cubs one of the league's most valuable franchises. The family's grand plans for a renewed and buffed up stadium has become the center of legal battles, which has prevented the team from moving forward with its epic renovation plan. Perhaps the family is on to something with its plan to sell shares, but the team has not been cleared to start its renovation just yet.
· Ricketts family may sell minority shares for Wrigley Field renovations [Crain's]
· Alderman Says Wrigley Field Renovations Will Begin This Year [Curbed Chicago]
· Previous Wrigley Field coverage [Curbed Chicago]