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Warren Buffett is interested in investing in the Cubs

Apr 4, 2014, 4:33 PM EDT

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As we noted yesterday, the Cubs are seeking minority investors in order to help fund the renovations to Wrigley Field and the development of the neighborhood around the ballpark. One potential investor? The most famous investor of them all:

Warren Buffett, the world’s fourth-richest person, is interested in investing in the Chicago Cubs, according to a source who traded candor for anonymity . . . The Ricketts family hails from Omaha, the same city that is home to Buffett’s holding company, Berkshire Hathaway .

Buffett has baseball ownership experience. Or at least investing experience, as he owned a minority share of the Omaha Triple-A team, so it’s not totally foreign territory for him.

It would be interesting, though, as being a minority shareholder in a closely held baseball team like the Cubs would give him little if any say in how the asset is managed. In a lot of ways doing that is a vanity investment, and Buffet is a lot of things, but a vanity investor is not one of them.

  1. perryt200 - Apr 4, 2014 at 7:11 PM

    As a Cards fan I sincerely hope he doesn’t invest in the Cubs.

    No way he would let them suck as much as they do now.

  2. willnit - Apr 4, 2014 at 8:14 PM

    Great investment. They are one of the worst franchises in sports (as far as wins and championships) and keep making bank. Cubs fans are some of the most loyal fans out there. That doesn’t make them smart.

  3. hotkarlsandwich - Apr 4, 2014 at 10:49 PM

    In other news, Jimmy Buffett is interested in investing in the Marlins. For $100 bucks and a few margaritas he will be a 30% owner.

  4. jerze2387 - Apr 4, 2014 at 11:15 PM

    I wish warren buffet would buy the whole team instead of a stake. I can’t stand the ricketts

  5. nsstlfan - Apr 5, 2014 at 8:33 AM

    Perryt200 it would just be a small minority stake. I don’t believe it would be big enough for the Ricketts family to let him make personal decisions.

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