Source: Tribune, Ricketts reach Cubs sale deal

CHICAGO – Ryan Theriot paused and smiled as he reflected on his wish list for new Cubs ownership.

“An indoor swimming pool right in here somewhere,” Theriot said, looking around the crowded clubhouse. “A retractable roof would be neat. If we could each get a jet, that’d be nice. … Whatever we do, we’ve got to do something about [Mike] Fontenot’s hair.”

Jokes aside, the Cubs made serious progress toward finding a long-awaited owner this week. The Tribune Co. reached a written agreement to sell the 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.

A term sheet that outlined the deal was sent to Major League Baseball for review, said the source, who spoke on the condition of anonymity because the agreement had not been announced. The term sheet is not a final agreement, the source said.

The Tribune Co. would not confirm that an agreement had been reached.

The Cubs have been on the market since 2007, when Sam Zell announced his $8.2 billion purchase of the Tribune Co. The company announced in January that the Ricketts family bid had been selected over two other bids for the team.

The team’s uncertain long-term ownership situation has handcuffed general manager Jim Hendry from adding payroll this season. Hendry said he was not sure whether the written agreement would affect his ability to add players for another playoff run this season.

“Let’s see when it does get completed,” Hendry said. “We’ve been very fortunate the last couple of years, [for] a franchise of this magnitude to be for sale this long, to operate the way we have. Until recently, you never really felt the weight of it before.”

Cubs outfielder Reed Johnson said he expected a new owner to be aggressive.

“We knew that whoever was going to end up owning this team, they’re not going to be sellers,” Johnson said. “Whoever owns this team is going to try to win. They’re going to spend money.”

Cubs fans also have greeted the news enthusiastically, in part because the Ricketts family is viewed as loyal Cubs fans. Tom Ricketts, who once lived across the street from Wrigley Field and met his wife in the bleachers, added to that perception with his initial public statement about the plan to buy the team.

“We share the goal of Cubs fans everywhere to win a World Series and build the consistent championship tradition that fans deserve,” Ricketts said at the time.

Despite the nearly $1 billion deal, players said a clubhouse renovation was not on their wish lists.

“I think a lot of the guys enjoy the close quarters,” Johnson said. “There’s so many locker rooms now that stretch from behind home plate all the way down the left field line. You get lost. You don’t ever see your teammates. … More important is what’s going on out there between the lines.”

• The Associated Press contributed to this story.