Report: Cubs considering selling minority shares

Posted April 03, 2014 1:01 am

Daily Herald Report

With the Chicago Cubs set to celebrate Wrigley Field's 100th year during their home opener Friday, the team's owners are considering a new twist to help fund the stadium's five-year renovation project.

According to a report by Patrick Mooney of CSNChicago.com, the Ricketts family is considering selling nonvoting shares of the Cubs to investors. Citing anonymous sources in the business community, the report also said no decision has been finalized.

The Ricketts family, which purchased a 95 percent ownership stake in the team in 2009, has seen its $300 million stadium renovation stall as talks continue with neighborhood rooftop owners fighting signage proposals that threaten their views outside the park. The Cubs also want to spend another $200 million in development around the park as part of their five-year restoration and renovation proposal.

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