Whether the Ricketts family sells $1 million or $200 million worth of non-voting shares under a plan to take on minority investors in the Cubs, the baseball department doesn’t expect to see any of that influx of cash directly.
‘‘My understanding is that’s more to finance the renovations,’’ president Theo Epstein said Tuesday. ‘‘But no one knows what the final plan would be. A lot of options are on the table.’’
Ricketts suggested the same thing when he was asked Friday about using the investments to boost baseball spending.
If the Cubs can get the long-delayed project underway by October, team officials think what was once a five-year project can be completed in four. Chairman Tom Ricketts estimated $30 million to $40 million in additional annual revenue will be created through the renovations, but it’s unclear when that would be realized fully.
At roughly $89 million this season, the Cubs have their lowest payroll in nine years.