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Report: Deal reached on Cubs sale

Updated: July 6, 2009, 10:41 PM ET
Associated Press

CHICAGO -- The Tribune Co. has reached a written agreement to sell the Chicago Cubs, Wrigley Field and other assets to the family of TD Ameritrade founder Joe Ricketts for about $900 million, a person close to the negotiations said Monday.

The agreement was reached over the weekend and a document outlining the deal -- called a term sheet -- was sent to Major League Baseball for review, according to the person, who spoke on condition of anonymity because the agreement had not been announced.

The ...

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