New Cubs owner vows to win World Series

The new owner of the Chicago Cubs knows what fans want to hear and he didn't wait long to deliver.

Tom Ricketts was only a few moments into his first news conference as owner of the storied franchise Friday when he said the Cubs will win the World Series and end an infamous drought that dates to 1908.

When, who knows? How? Well, Ricketts said, there is no "magic bullet" but consistent talent will get the Cubs to the top.

Ricketts said there are plans to improve Wrigley Field but also preserve the feel of the venerable ballpark on Chicago's North Side.

The family of billionaire Joe Ricketts, the founder of Omaha, Neb.-based TD Ameritrade, this week closed a deal to buy a 95 percent controlling interest in the Cubs, the ballpark and 25 percent of Comcast Sportsnet, which broadcasts a number of Cubs game.

The Tribune Co. retains a 5 percent stake.

The price tag was $845 million.

"It is a dream situation, a dream job. It's the best franchise in sports," Ricketts said earlier this week in an interview with The Associated Press.

"And I don't know any fans who wouldn't want to end up in the situation we're in today.

"The good news is that even though it's a dream job, it's still a business. It's a great team, but the challenges of managing business will be similar to the challenges of managing other businesses."