Manufacturing and Sports Business

DeVos family buys stake in MLB team

March 4, 2015
| By Pat Evans |
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DeVos family buys stake in MLB team
Chicago Cubs first baseman Anthony Rizzo takes batting practice during spring training. Photo via

A statement from the DeVos family confirms that it now has a financial interest in a lovable loser.

“Hailing from the Midwest and having followed the Chicago Cubs for many years, the DeVos family is proud to confirm that we have invested a non-controlling interest in the Chicago Cubs and the Wrigley Field renovation project,” the statement reads.

The statement directs all further questions to the Chicago Cubs.

Amway co-founder Rich DeVos also owns the Orlando Magic in the National Basketball Association.

Last month, the Chicago Tribune reported that the Cubs’ owners, the Ricketts family, brought on limited partners to help pay for the $375-million renovation of Wrigley Field. At the time, the non-controlling owners were not identified.

It was reported by Chicago media that about half of the value was raised to replace the $150 million the city rescinded in 2012 for renovations of the stadium.

Yesterday, the Tribune reported that the partners are now listed in the 2015 Chicago Cubs media guide with four being fully named: Andrew Berlin, Wililam Comrie, Cory Thabit and the DeVos family. A fifth is listed as “O.C., LCC” and a sixth is not listed.

No terms of the deal have been released, but it was reported the minority investors will be part of an advisory board with no direct ties to business or baseball operations.

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