Turns Out Tom Ricketts Does Have More Money, Cubs Invest In Sports Betting

Obviously when Tom Ricketts answered why the Cubs didn't spend more in free agency this offseason with, "we don't have any more money," he meant we don't want to spend any more money. Yet, he opened himself up for criticism and an easy punching bag when the following story comes out.

Via Bloomberg.

Action Network Inc., a digital startup looking to capitalize on the spread of legal sports betting, completed a funding round that attracted team owners from baseball, basketball and hockey, along with the former owners of the Ultimate Fighting Championship. The subscription-based service offering data and analysis for sports bettors raised $17.5 million in a funding round that closed this week, Chief Executive Officer Patrick Keane said in a statement announcing the investments. The company was formed a little over a year ago by the Chernin Group, led by media mogul Peter Chernin. Also contributing were Blackstone Group’s David Blitzer, co-owner of the Philadelphia 76ers and New Jersey Devils; the owners of the Chicago Cubs; 6721 Capital, a new fund formed by sports marketing executive Casey Wasserman and the investment banking firm Code Advisors; and BitKraft Esports Ventures, the world’s first esports-specific venture capital fund.

And you know what, this is actually smart. Ricketts is going to make more money because sports betting is going to continue to be legalized throughout the country. That includes Illinois, which is already taking steps in making it legal relatively soon.

Cubs fans can only hope that after Ricketts makes more money off of this that he won't cry poor like he did earlier this week.

If only Tom bet on the Bears, then the Cubs could have signed a few more players to upgrade the roster this offseason.

No but seriously back to Tom's no more money nonsense. He got bailed out by the White Sox this week big time. https://soundcloud.com/user-638151057/the-white-sox-never-had-a-chance-with-machado