Apr 4, 2014, 4:33 PM EDT
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.
- MLBPA files grievance against Astros in regard to draft pick situation 0
- The eyes have it: Thomas’ greatness built on patience 9
- Expert’s Corner: How to troll fans of all 30 teams 153
- Mariners re-acquire Kendrys Morales from Twins for Stephen Pryor 20
- A’s designate $10 million reliever Jim Johnson for assignment 34
- Everything you need to know about next week’s trade deadline 33
- Impending free agent Jon Lester won’t talk contract with the Red Sox until after the season 19
- Verducci: baseball should think about an “illegal defense” rule to combat shifts (162)
- Expert’s Corner: How to troll fans of all 30 teams (153)
- Yankees acquire Chase Headley from Padres (108)
- Who is the next Face of Baseball? (97)
- David Ortiz passes Carl Yastrzemski on the all-time home run list — is he a Hall of Famer? (92)