The long-running drama at Wrigley Field now has a new twist.
It shouldn’t be as chaotic as Sam Zell’s Tribune Co. takeover, the descent into bankruptcy and a rocky transition to the Ricketts family. But the Cubs are exploring the idea of selling minority ownership shares as a way to help finance the stadium renovation, according to multiple sources within Chicago’s business community.
A Cubs source confirmed the plans, describing those shares as a non-controlling interest while also cautioning that the Ricketts family hasn’t made any final decisions yet. It’s an X-factor for the business/baseball plans at Clark and Addison, and an acknowledgment of the team’s complicated financial reality.