Chicago Cubs Owners Settle Business Dispute

A Chicago family-owned business recently went up against the owner of the Chicago Cubs in a legal battle regarding the sale of Cubs memorabilia. The dispute revolved around the right to sell Cubs souveniers at an intersection across the street from Wrigley Field’s front gate, and according to WLS am, the parties recently reached a “amicable settlement.”

cubs-seatsChicago Sports and Novelty, Inc., says that it’s sold memorabilia from the corner of a McDonald’s parking lot at Clark and Addison since 1970, and that their valid lease was canceled when the Ricketts family – the Cubs Owners – bought the property from McDonald’s last fall. The Rickettses, meanwhile, wanted to sell their own Cubs merchandise from the spot.

Daniel Ryan, the attorney for Chicago Sports and Novelty, Inc., says that the settlement allows an investment group controlled by the Rickettses now has the full right to use the property for memorabilia sales, but declined to mention if Chicago Sports received a financial settlement from the Ricketts family.

According to the WLS, the Ricketts family has purchased numerous other properties around the stadium, apparently also to sell Cubs souvenir, and that they’ve said they “have some great offerings for fans” at the location at the heart of the recent dispute.

In most disputes between Chicago businesses, reaching a settlement is preferable to engaging in costly and time-consuming litigation. Chicago-area businesses should ensure that their business attorney is both a skilled litigator but that he or she also has superior negotiation skills.