Source: Sale of Cubs, Wrigley finalized

CHICAGO, July 6 (UPI) -- The Ricketts family and the Tribune Co. finalized a deal for the sale of the Chicago Cubs and Wrigley Stadium, a source familiar with the talks said Monday.

The unidentified source said the deal that would transfer ownership of the National League franchise to the Ricketts family has been sent to Major League Baseball to receive the approval of other team owners, the Chicago Tribune reported.

Court approval of the sale also is needed as the Tribune Co. is operating under Chapter 11 bankruptcy.

The source said the final price for the club and its home stadium is near a previous bid the Ricketts family, led by investment banker Tom Ricketts, put in previously this year.

The Tribune said the successful auction bid includes a 25 percent stake in the regional TV network Comcast SportsNet.