Co-owner Thomas S. Ricketts told "Squawk on the Street" the team is looking for investors to help finance upgrades to Wrigley Field. The stadium, built on Chicago's north side in March 1914, is the MLB's second-oldest ballpark. By the way, the oldest is Fenway Park in Boston, built in April 1912.
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"It's well over $300 million to fix Wrigley and save it for the next generation and most of that is steel, concrete, electrical and plumbing. I mean, that's what the ballpark needs the most," Ricketts told CNBC's Rick Santelli in an interview from the floor of the Chicago Mercantile Exchange. "With respect to the financing, we're going to look at all the options that are on the table and see what makes the most sense."
It's not uncommon for MLB teams to seek outside funding, either, Ricketts added.
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"That's the way most baseball teams are done. Most baseball teams have several dozen limited partners," Ricketts said. "I think if we could find a handful of guys that are great partners, value added, you know, people in the organization, that would be the best answer for us."
—By CNBC's Drew Sandholm.