|Cubs will buy back title rings for $1
The Chicago Cubs were gracious as they handed out 2016 World Series Championship rings to many of their employees as the rings are valued to be worth around $70,000 to $250,000 to a private collector. There were different tiers of rings handed out to over 2,000 employees.
However, there was a catch with the rings because the Cubs organization doesn't want the rare and special rings to get into the wrong hands that won't appreciate them. The Cubs sent out a memo that restricted employees to sell their rings unless back to the Cubs first for one dollar according to multiple reports.
“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 memo states. “However, we think it is important to communicate this information to you.”
The reason that the team can do all of this legally is because it is a gift given by the team.
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