Cubs close to final transition

Updated: October 23, 2009, 2:25 PM ET
By Bruce Levine |

The Chicago Cubs will be owned by the Ricketts family and run by Tom Ricketts by early next week, according to Major League Baseball sources.

The exact date is contingent on when the transition of ownership from Sam Zell and Tribune Co. to the Ricketts family is completed.

The plan is for Ricketts to meet with the media and team advertisers by next Friday. At that time, it's assumed Ricketts also will unveil his plans for the future.

The Cubs have been owned by Tribune Co. in some form since 1981, when it purchased the team from Phillip K. Wrigley.

Bruce Levine covers baseball for

Bruce Levine | email

Chicago baseball beat reporter
Bruce Levine has covered sports in Chicago for over 28 years and hosts "Talkin' Baseball," heard Saturday mornings on ESPN 1000.