It's official: Chicago Cubs to sell to Ricketts family

The Chicago Tribune reports:

The Chicago Cubs will have a new owner, and it's who everyone expected it to be back in January.

Tribune Co. said Friday that it signed an agreement to sell the iconic franchise to the Ricketts family. The family is paying about $800 million to acquire a 95 percent interest in a package of assets: the team, Wrigley Field and Tribune Co.'s 25 percent stake in Comcast SportsNet Chicago, which broadcasts many Cubs games on cable television.

The agreement values the franchise and related assets at $845 million, less than the Rickett's winning bid in January of $900 million. Tribune Co. will retain a 5 percent ownership stake in the joint venture.