CHICAGO (AP) — Cubs owner Tom Ricketts says the team is examining all options for financing the renovation of Wrigley Field, including bringing in outside investors for the franchise.
Ricketts says potential investors would receive non-controlling, minority shares, and there is no reason to be concerned about the financial state of the club.
Ricketts made his remarks before Friday’s home opener against the Philadelphia Phillies. The Cubs are celebrating this season’s 100th anniversary of Wrigley Field.
The cozy neighborhood ballpark is one of baseball’s most popular fields, but it lacks many modern amenities that are common around the majors. Plans for a $500 million overhaul of Wrigley and the surrounding area are on hold.
The Ricketts own 95 percent of the Cubs, with the Tribune Co., which sold the team to the family, owning the rest.