How Much Did the Ricketts Pay for the Chicago Cubs
The Ricketts family completed the purchase of the Chicago Cubs in October 2009 for a reported $845 million, which included the team, Wrigley Field, and a 25 percent stake in the regional cable network Comcast SportsNet Chicago, according to Forbes. The acquisition was led by TD Ameritrade founder Joe Ricketts, with his family members including son Tom Ricketts and daughter Laura Ricketts holding ownership stakes through the holding company Ricketts Family LLC.
The $845 million purchase price made the Cubs one of the most expensive MLB acquisitions at the time, with the deal structured to include $300 million in cash from the family and the remainder funded through debt and assumed liabilities. The transaction was approved by MLB owners after a league vote, and the Ricketts immediately began a multi-year renovation plan for Wrigley Field and the surrounding plaza area.
Cubs Purchase Price Breakdown and Financing
Of the total $845 million purchase price, approximately $300 million came from the Ricketts family equity, with the remainder funded through a combination of bank financing and assumed debt obligations tied to the team and Wrigley Field operations. The family also invested additional capital over the following years for stadium renovations, player acquisitions, and operational improvements.
The financing structure included a significant loan from a group of banks led by JPMorgan Chase, with the team and Wrigley Field serving as collateral. The Ricketts also secured additional funding through a credit facility tied to the Tribune Publishing shares they retained after the sale of the Chicago Tribune newspaper, which provided liquidity for the initial acquisition costs.
Current Cubs Valuation and Ownership Structure
As of the latest Forbes MLB team valuations, the Chicago Cubs are currently valued at approximately $4.6 billion, representing a dramatic increase from the $845 million purchase price paid by the Ricketts family in 2009. The team consistently ranks among the top 10 most valuable franchises in Major League Baseball, driven by Wrigley Field revenue, national television deals, and strong attendance figures.
The Ricketts family maintains majority ownership through Ricketts Family LLC, with Tom Ricketts serving as the principal owner and chairman of the board. The ownership group includes family members Laura Ricketts, Joe Ricketts, and Jim Ricketts, with the family also maintaining ties to the Chicago Cubs Care Foundation and various charitable initiatives tied to the team's community impact.