The ailing Chicago Tribune newspaper has finally sold the Chicago Cubs and their home ballpark, Wrigley Field, for about $900 million. The team and stadium (along with a 25 percent share in a regional sports TV network) were bought by billionaire Tom Ricketts and his family. The Ricketts family founded the Ameritrade online stock market brokerage.
The Tribune bought the Cubs and Wrigley Field from the Wrigley family for just over $20 million in 1981, but put the Cubs on the market in 2007. Real estate mogul Sam Zell originally agreed to buy the team, but that deal fell through. The Chicago paper filed for bankruptcy protection last month, and a judge will likely need to approve the sale, along with other major league owners.
On the field, the Cubs signed Japanese veteran pitcher Ken Kadokura to a minor league contract. The 35-year-old right-hander will be a non-roster invitee to the Cubs’ spring training camp in Arizona next month. In 13 seasons of Japanese ball, Kadokura went 76-82 with a 4.32 ERA for four teams. He was 0-2 in 11 games for Yomiuri in 2008.
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