DeVos Family Buys Stake in Chicago Cubs

Crain's Chicago Business reports that the DeVos family, owners of Amway and the NBA's Orlando Magic, have bought a stake in Major League Baseball's Chicago Cubs.

The controlling owners, the Ricketts family, recently sold a minority stake in the team to a group of six owners to help finance renovation of Wrigley Field.

The DeVos family is one of the six owners along with Chicago businessman Andrew Berlin, The Chicago Tribune reported. The other four owners remain anonymous.

Together the six own less than 10 percent of the Cubs and have no voting rights.

The amount paid by the group is not being released, and additional ownership opportunities might be available at a cost of $5 million each, an amount said to be much less than what the group of six has paid.

ESPN's Darren Rovell first reported on the DeVos family's minority stake.