Why Did the Wrigley Family Sell the Cubs? Insights Into Their Decision

The sale of the Chicago Cubs marked a significant moment in baseball history, not only for the team but also for the Wrigley family, who had owned the franchise for decades.

The Wrigley family’s decision to sell the Cubs was driven by financial challenges and a desire to secure the team’s future under new ownership. Over the years, the Cubs struggled both on the field and financially, leading to a critical point where a sale became necessary.

In 1981, William Wrigley Jr. confirmed the sale of the Cubs to Tribune Co. for $20.5 million, hoping the media powerhouse would provide the resources needed to enhance the team’s competitive edge.

The Wrigley family had a deep connection to the team and its beloved home, Wrigley Field. However, with growing pressures from the National League and Major League Baseball, the shift in ownership became a vital step for the franchise.

This transition ultimately paved the way for further developments, including the eventual sale to the Ricketts family in 2009. Understanding the reasons behind the Wrigley family’s decision offers insights into the complexities of running a sports franchise and the factors influencing ownership in professional baseball.

Historical Context and Ownership Timeline

The Chicago Cubs have a rich history of ownership that reflects changes in both the franchise’s fortunes and the landscape of Major League Baseball. Understanding this timeline provides insight into key decisions and events, particularly the Wrigley family’s eventual sale of the team.

Early Ownership and the Wrigley Era

The Chicago Cubs were established in 1876, with early ownership shifting between various figures, including Albert Spalding and Charles Murphy.

In 1916, William Wrigley Jr. significantly boosted his stake in the team, eventually controlling the majority. Under Wrigley’s leadership, the Cubs became a beloved franchise, winning the National League pennant multiple times.

After Wrigley’s passing in 1932, his son, Philip K. Wrigley, took over. He emphasized the importance of game attendance and fan experience, further solidifying the team’s place in Chicago culture. The Wrigleys continued to run the team until rising financial pressures led to their decision to sell.

Tribune Company Ownership

In 1981, the Wrigley family sold the Cubs to Tribune Company for $20.5 million. This marked a significant change in management. Under Tribune, the Cubs faced both success and challenges, with the company investing in stadium renovations and marketing efforts.

Tribune aimed to modernize the team while keeping its legacy intact. However, despite these efforts, the Cubs did not achieve significant playoff success during this period. The franchise became known for its long-standing championship drought, creating frustration among loyal fans.

Transition to the Ricketts Family

In 2009, the Cubs were sold to the Ricketts family for an estimated $850 million. The transition marked a new era, focusing on both competitive performance and community involvement.

The Ricketts family aimed to revitalize the team and Wrigley Field. Under their ownership, significant renovations began at Wrigley Field, enhancing the fan experience.

The Ricketts also prioritized the development of a competitive team, which culminated in the Cubs winning the World Series in 2016, breaking a 108-year championship drought. This successful turnaround highlighted the impact of ownership decisions on the franchise’s fortunes.

Factors Influencing the Sale

The decision to sell the Chicago Cubs was shaped by various factors that affected the franchise’s financial health, competitive performance, and market position. Key considerations included pressing financial obligations, team management challenges, and the evolving landscape of sports investments.

Financial Considerations and Revenue

Financial needs played a major role in the sale of the Cubs. Following the deaths of his parents, Bill Wrigley faced large estate taxes which put pressure on family finances.

The Cubs, historically a beloved team, were struggling to generate sufficient revenue. Player salaries had risen significantly, and the costs of maintaining a competitive team were high.

The Wrigley family needed a buyer who could infuse capital into the team. The agreement to sell the Cubs to Tribune Company for $20.5 million helped address these financial challenges, providing a much-needed influx of working capital.

Team Performance and Management

The Cubs had not seen success on the field for decades, with the last World Series win coming in 1908. The team’s inability to make regular playoff appearances added urgency to the sale.

The lack of postseason success frustrated fans and decreased ticket sales, impacting revenue. Management decisions also influenced the situation.

The Wrigley family struggled with the changing dynamics of team management and player acquisitions. Competing teams, such as the New York Mets and the Chicago White Sox, were making significant investments to build winning rosters, further widening the competitive gap.

Market Influences and Investment Priorities

The sports landscape was evolving in the early 1980s. Teams were increasingly pursued by corporate investors looking to maximize media revenues.

For the Cubs, the prospects of reaching wider audiences through television deals with WGN and Comcast SportsNet were promising.

Tribune Company had the resources to invest in facilities, marketing, and player development, which were crucial for competing in the National League. This shift toward corporate ownership reflected a broader trend in professional sports, as franchises sought substantial investment to thrive financially and athletically.