Just because Mayor Daley is on his way out the door doesn't mean he's going to stop promoting the dishing out of taxpayer dollars to private entities -- after all, a 21-year-old habit is hard to break. After a ribbon cutting at the new 23rd district police station on Saturday, a reporter asked Daley what he thought about the Cubs' owners request for $300 million in state funds to fix up Wrigley Field, and while he said the decision was "difficult" because the city is "looking at nickels and dimes," he added, "I can't rule it in or out. It is a good proposal." Daley did, however, say that there are "other ways to renovate Wrigley Field besides the bond proposal." Like, say, the Ricketts family's own personal fortune? more ›

With last week's announcement of the Cubbies' new ownership - the Ricketts family - came a historic, gay caveat. One of the four new sibling owners, out lesbian Laura Ricketts, is the first openly gay owner of a professional sports team. more ›

The Ricketts family was formally introduced today as new owners of the Chicago Cubs and Tom Ricketts began the new era with a bold proclamation: "We’re going to win the World Series." Cubs fans in our office (which is actually just me) are hopeful maybe even a change of ownership can get something going, but we're not holding our breath. more ›

The Cubs' sale to the Ricketts family is finally complete. The family now owns 95 percent of the team and Wrigley Field and 25 percent of Comcast Sports Net. Said Tom Ricketts, "Now we will go to work building the championship tradition that all Cubs fans so richly deserve." The team will wait until Friday - an off day for the World Series - to formally introduce the new owners. more ›

In a move that was expected, the Chicago Cubs have filed for Chapter 11 bankruptcy protection. The filing means the tam's new owners - the Ricketts family - will be protected from the Tribune Company's creditors stemming from the company's own bankruptcy filing in December 2008 (the Cubs were not included in that filing). Last week, Major League Baseball owners approved the sale of the team to the Ricketts. more ›

Actually, not a whole heck of a lot, for now. It seems that the new owners of Wrigley Field, as well as the Cubs (pending MLB owners' approval), have plans but they're a ways off. Which is understandable, given the boat-load of money they just dropped to buy the stadium and team (and a 25 percent stake in Comcast Sports Net Chicago). Sources familiar with the plans tell Crain's that any work to the stadium won't happen for four or five years and that even then the undertaking won't be as massive as the Tribune Company's renovation plans for the ballpark were; the Ricketts are aiming to spend around $250 million as opposed to the TribCo's $450 million-$600 million range. more ›

The Tribune Company may file for Chapter 11 bankruptcy in regards to the Chicago Cubs. But it's not as bad as it seems; rather, it's a move that may help the pending sale of the team go a little smoother. According to Bloomberg: more ›

Finally. After a long, arduous process, the Chicago Cubs (and Wrigley Field) have a new owner: the Ricketts Family. The Tribune reports this morning that the Tribune Company and the Ricketts finalized the deal over the weekend. Here's hoping the deal wasn't finalized on Saturday in conjunction with the worst performance we've seen out of the Cubs this summer. Anyway. The Trib reports: "The source said the sales price is "close" to the $900 million bid the Ricketts offered earlier this year that won an auction for the baseball team, stadium and a 25 percent stake in Comcast SportsNet Chicago, a regional cable television sports network." The agreement now goes to Major League Baseball for approval. more ›

And you thought the Cubs' problems this season were confined to a shaky bullpen and quiet bats. It seems the Tribune Company isn't dealing with just the Ricketts family, the original high bidder, anymore. According to Crain's, a "period of exclusivity" has elapsed, opening the door for the Tribune Company to begin negotiating with other bidders, specifically those who the Ricketts had previously outbid. The group the Tribune Co. is now talking to includes investors Marc Utay and Leo Hindery, who had previously bid on the team. more ›

Sam Zell cast the first official shadow of a doubt on the Ricketts’ purchase of the Chicago Cubs Thursday, according to a Tribune report. All talk of the sale had been puppy dogs and sunshine until yesterday, when Zell—commenting on Ricketts’ struggles to obtain financing—said in an interview with Bloomberg Television, “So if the Ricketts deal doesn't get done, I'm sure there will be other ones.” more ›

Preferred stock, that is. According to Crain's, prospective Cubs owner Tom Ricketts is looking to finance part of his $900 million purchase by selling shares of the ball club to individual investors. Before you go and liquidate your 401(k), be advised that the shares will come with a hefty $25 million price tag. The idea is that by finding five to 10 ballin' financial backers, Ricketts would lessen the need to take on high-interest bank debt. more ›

Despite the fact the Tribune Company has picked a buyer for the Chicago Cubs, it doesn't look like they'll be rid of the team by Opening Day as had been originally hoped. Cubs chairman Crane Kenney said talks to hammer out an official deal continue and that the negotiations will likely continue even as the Cubs' April 6th Opening Day comes and goes. more ›