Ricketts Family May Sell Cubs Shares To Investors
(CBS) — The Ricketts family is looking for a few people with deep pockets who want to become minority owners in the Cubs.
There has to be a philosophical fit, along with deep pockets. Family spokesman Dennis Culloton said the Ricketts are not interested in selling shares of stock to the public, Green Bay Packers-style.
“This would be high-network individuals potentially investing,” Culloton says.
Nor, he said, would the Ricketts family give up any of its 95 percent control of the team.
The shares would be non-voting, although Culloton said no decision has been made on the number of shares to be sold or at what price. Family members also are looking at other options.
But he said all financing and stock sales will depend on a successful conclusion to the ongoing negotiations the team is having with rooftop owners concerning the team’s plan to expand and renovate the 100-year-old ballpark.