(AP Photo/Paul Beaty)
CHICAGO (AP) 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 term sheet is not a final agreement, according to the person, who added that it contains details on how the Ricketts family will finance the deal. The deal also would give the Ricketts family a 25 percent interest in a regional cable television sports network.
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