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.
- Rockies place Troy Tulowitzki on the disabled list 17
- Rob Manfred “heavily favored” to be Bud Selig’s replacement 25
- Yankees acquire Chase Headley from Padres 105
- And That Happened: Monday’s scores and highlights 39
- Cliff Lee struggles in first start back from disabled list 15
- On the 10th anniversary of his MLB debut, let’s appreciate David Wright 29
- And That Happened: Sunday’s scores and highlights 36
- Odrisamer Despaigne loses his no-hitter with two outs in the eighth inning 8