(CBS) In a wide-ranging interview with the Mully and Hanley Show on Friday morning, Cubs owner Tom Ricketts confirmed reports that the team is considering selling some shares of the team to investors to help finance the Wrigley Field renovations.
In January 2013, the team announced a $300-million plan to renovate Wrigley Field, which today is hosting its 100th Opening Day as the Cubs host the Phillies.
“Almost every team has a number of investors,” Ricketts said. “Many teams have dozens of investors. Right now, it’s basically us with a small stake, a residual stake for the Tribune (Co.). When you look at a project the size that we’re looking at, you basically look at all the financing options and you see what’s out there. We will have a few discussions with potential co-investors and try to find people that want to invest in the ballpark and invest in the ball club, help fix Wrigley, help get to the World Series.
“It’s just one of the options on the table, but if we do go down that route, it’s certainly a case where we’d get just a handful of small, committed investors to put in a relatively large investment, and we’ll use that as part of the financing for the renovation of the ballpark.”
Full interview: Ricketts talks dispute with rooftop owners, season expectations, relationship with Sammy Sosa and more