Cubs exploring sale of minority shares for Wrigley renovation

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.
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