(CBS) — The Chicago Cubs are making news on the business front as well as with managerial changes.
Numerous sources have confirmed that the Ricketts Family LLC, a different entity from the Cubs, is close to finalizing a deal to purchase two roof top buildings owned by George Loukas and his family. The buildings overlook Wrigley field.
This significant sale would be a huge win for the Ricketts family in their ongoing battle with the 17 roof top owners. The rooftop owners have sued the Cubs for going ahead with plans to put up seven signs and two electronic video boards in the outfield that may block some roof top views.
The sale by Loukas points to many others falling in line and selling the other rooftop buildings to the Cubs. An unconfirmed source said the sale price was $6 million per building; that was not confirmed by a second source.
Another indication this sale is complete has the Joe Maddon press conference on Monday at the Cubby Bear bar and restaurant at Addison and Clark . Loukas owns this establishment as well as the Sports Corner bar located at Addison and Sheffield. The Cubs can’t use Wrigley field for any meetings or events due to the construction to rehab the ballpark.
Rooftop owners paid the Cubs $3.1 million in 2013. That was 17 percent of their total gross revenues. The contract has 10 years remaining on the agreement.