Tribune: No Deal For Sale Of Wrigley Field To State
June 9, 2008 at 4:40 PM (PT)
TRIBUNE CO. may still be selling WRIGLEY FIELD, but it won't be to the state of ILLINOIS. The company issued a statement late MONDAY (6/9) announcing the end of negotiations to sell the historic ballpark on CHICAGO's North Side to the ILLINOIS SPORTS FACILITIES AUTHORITY.
"TRIBUNE and ISFA have been unable to come to terms on an agreement to transfer ownership of WRIGLEY FIELD into a public trust," the statement read. "As an employee-owned organization, TRIBUNE has been clear and unwavering in its commitment to a transaction that is favorable to the public, to the company, and to the CUBS. Unfortunately, ISFA’s proposal did not meet this criteria and would, in fact, violate the policies of MAJOR LEAGUE BASEBALL. We continue to see a strong benefit for the state and the city in public ownership of the ballpark, but we cannot execute a transaction at the expense of our employees or in violation of MLB rules."
TRIBUNE has been shopping the CUBS and the ballpark since the sale of the company to SAM ZELL, and has narrowed the field of potential buyers for the CUBS, with DALLAS MAVERICKS and HDNET owner MARK CUBAN among those getting the "book" on the club this week.