The sale of the Chicago Cubs has been finalised and the Ricketts family has now officially taken control of the team. The sale has cost the family a massive $845 million for the exchange of ownership from Tribune Co. to the family. Tribune has actually owned the club for 28 years and they have been allowed to keep a 5% stake in the team. The deal also means that the Ricketts family now hold a 25 percent stake in Comcast Sports Net.

The team was sold to Tribune in 1981 for $20.5 million but has not seen any World Series success for many decades. The club has not won the series since 1945. The family issued a statement regarding the sale and said “It’s fitting that this closing takes place during World Series week. Out of respect for the fall classic, and at the league’s request, we will wait to introduce ourselves to the media and fans until this Friday, a travel day in the series between the Phillies and the Yankees.”

The deal has said to have made the Ricketts overjoyed with their acquisition and they are said to be thrilled at the future prospects they hope to bring to the club. They are very positive that with their support and help that the success of the Cubs will be restored and an end to the 63 year dry streak. The lack of World Series success could soon come to an end.