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 More Cubs NewsThe Ricketts family officially assumed control of the Cubs on Tuesday upon the closing of its $845 million deal with the Tribune Co. The sale allows Tribune, which has owned the franchise since 1981, to retain a five percent stake in the team to reduce taxes by an estimated $300 million. Tribune paid $20.5 million for the Cubs in 1981. "My family and I are thrilled that this day has finally come, and we thank commissioner Bud Selig and Major League Baseball owners for approving our ownership," Tom Ricketts said in a released statement. "Now we will go to work building the championship tradition that all Cubs fans so richly deserve." |
