Buffett may invest in the Cubs, says Forbes report

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Posted: Friday, April 4, 2014 12:00 am

They might not be a winning team, but could the Chicago Cubs be a winning investment for Warren Buffett?

Buffett “is interested in investing in the Chicago Cubs,” Forbes reported Friday, citing an anonymous source.

Buffett's office did not immediately respond to a request for comment.

The Ricketts family, 95 percent owners of the Cubs, are considering selling noncontrolling shares in the team to finance a proposed $500 million renovation of 100-year-old Wrigley Field and redevelopment of the surrounding neighborhood.

Forbes suggested the family might be turning to an Omaha neighbor for help. Joe Ricketts founded online brokerage TD Ameritrade here.

It wouldn't be Buffett's first run around the bases. He was a part-owner of the Omaha Storm Chasers from 1991 to 2012.

The Cubs rank as the fourth-most valuable major-league team at $1.2 billion, according to a recent Forbes valuation.

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