CHICAGO (WBBM NEWSRADIO) -- One of The Cubs owners is branching out to basketball.
Laura Ricketts is part of a group of investors that has bought 10% of the Chicago Sky in a deal worth $8.5 million. The latest valuation of the women's basketball franchise was $85 million.
Sportico reports Ricketts, who is co-owner of the Cubs, is one of eight investors in the group which also includes several other prominent business women.
“This is a long-term investment and play that we’re making, and these people believe in the future we’re trying to get to," Nadia Rawlinson, Sky’s operating chairman, told Sportico.
"Everyone believes their contribution, not just financially but their own expertise and advice as well, will increase the overall value of the franchise.”
The WNBA's Board of Governors still needs to approve the deal.
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