By: E&P Staff
Negotiations between the Tribune Co. and the Illinois Sports Facilities Authority (ISFA) over the sale of Wrigley Field have fallen apart. According to a statement released by Tribune, ISFA’s proposal fell short of the criteria to serve the public in addition to “violating the policies of Major League Baseball.”
The full statement from Tribune follows:
“Tribune and ISFA have been unable to come to terms on an agreement to transfer ownership of Wrigley Field into a public trust. As an employee-owned organization, Tribune has been clear and unwavering in its commitment to a transaction that is favorable to the public, to the company, and to the Cubs.
“Unfortunately, ISFA’s proposal did not meet this criteria and would, in fact, violate the policies of Major League Baseball. We continue to see a strong benefit for the state and the city in public ownership of the ball park, but we cannot execute a transaction at the expense of our employees or in violation of MLB rules.”