Tags: cubs | rings | world series | sell

Cubs Rings: Employees Asked Not to Sell World Series Rings

Image: Cubs Rings: Employees Asked Not to Sell World Series Rings

Chicago Cubs' Chairman Tom Ricketts shows off his ring as the team celebrates during the 2016 World Series championship ring ceremony before the team's baseball game against the Los Angeles Dodgers on Wednesday, April 12, 2017, in Chicago. (AP Photo/Matt Marton)

By Karl Nelson   |   Thursday, 20 Apr 2017 03:23 PM

The Cubs’ World Series title rings given to employees won't be sold to the public, according to a new agreement.

The agreement came as the Cubs gave out 1,908 rings to players and employees, celebrating winning their first World Series in 108 years, ESPN reported.

The Cubs organization is asking each non-player to sell their ring back to the organization for $1 if, for some reason, they ever decided to sell it. Players weren't asked to sign the agreement, according to ESPN, which noted that there are different tiers of rings.

"We regret the formal nature of this memo, and we do not intend for this information to overshadow our joy in being able to provide this ring to you," the Cubs said in a memo obtained by The Chicago Sun-Times.

The organization also said that if a person decided to sell "or otherwise transfer" their ring, then the organization must receive written notice of "the proposed transaction and a complete accounting of the terms."

"If the Cubs elect not to purchase the ring, then you may transfer it according to the terms you provided to the Cubs; however, each subsequent owner shall also be bound by these terms in the event of a subsequent proposed sale or other transfer," the Cubs added in the memo.

The rings would be worth an estimated $50,000 and $250,000 on the open market, the Sun Times noted.

The memo issued by the team makes an exception for rings that are given away as gifts.

"I signed that thing willingly," Cubs general manager Jed Hoyer said, according to ESPN. "Everyone except for the players signed it. I look at it as the Ricketts [ownership] were so unbelievably generous in the cost of the ring and the number they gave out, I think it's totally appropriate when you're paying for the ring and helping out with the taxes along with that -- it seems appropriate to say, 'I don't expect you to take the gift I'm giving you and run out to the market with it.'"

© 2017 Newsmax. All rights reserved.

1Like our page
2Share
TheWire
The Cubs' World Series title rings given to employees won't be sold to the public, according to a new agreement.
cubs, rings, world series, sell
343
2017-23-20
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved