Flashback #88: Ricketts Takes Control Of Cubs (2009)
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October 27, 2009 - Ricketts takes control of the Cubs
After almost two years of bidding and campaigning, the Ricketts family took control of the Chicago Cubs on Oct. 27, 2009.
The Cubs first became for sale after Sam Zell announced his intention to acquire the Chicago-based Tribune Company, the former owner of the Cubs. Reports indicate Zell announced that he would sell the Cubs and related entities including Wrigley Field and a 25% share of Comcast SportsNet Chicago.
On Jan. 22, 2009, the Ricketts family's bid, headed up by the family's second-oldest son, Tom, was selected to purchase the team. After months of deliberation, on July 6, 2009, the Chicago Tribune reported the Ricketts family had reached an agreement with the Tribune Company to purchase the Cubs, Wrigley Field, and 25% of Comcast SportsNet Chicago for close to $900 million.
The deal was sent to Major League Baseball's Commissioner, Bud Selig and the other 29 owners for approval.
Shortly after the deal was confirmed Tom Ricketts released a statement saying: "My family and I are thrilled that this day has finally come and we thank Commissioner Bud Selig and Major League Baseball owners for approving our ownership. Now we will go to work building the championship tradition that all Cubs fans so richly deserve.
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