Why did Wrigley sell the Cubs?
When Philip died Tuesday, April 12, 1977, his estate owed between forty and fifty million dollars in taxes. Philip's son, William Wrigley III inherited the company and the debt. William III was forced to sell ownership of the Cubs and of Wrigley Field in order to pay the tax bill.
When Philip died Tuesday, April 12, 1977, his estate owed between forty and fifty million dollars in taxes. Philip's son, William Wrigley III inherited the company and the debt. William III was forced to sell ownership of the Cubs and of Wrigley Field in order to pay the tax bill.
