PITTSBURGH -- The Ricketts family is reportedly considering selling minority shares in the Cubs to help finance the $500 million renovation plan for Wrigley Field and the surrounding area.
Comcast SportsNet Chicago first reported the story on Thursday. The shares would be non-controlling, and shareholders would join the Tribune Co. as investors in the team. The Tribune Co. kept a 5 percent stake in the Cubs after it sold the franchise to the Ricketts in 2009.
"The Ricketts family is looking at a number of financial options to be prepared to finance expanding and preserving Wrigley Field if there is a settlement to the issues in the talks with the rooftops," Dennis Culloton, a spokesperson for the Ricketts family, told Crain's Chicago Business.
Carrie Muskat is a reporter for MLB.com. She writes a blog, Muskat Ramblings, and you can follow her on Twitter @CarrieMuskat. This story was not subject to the approval of Major League Baseball or its clubs.