Cubs reserve right to buy World Series ring back for $1

The Cubs' World Series rings may be priceless to its players and employees but the club has in fact listed a price for the historic hardware

The Cubs' World Series rings may be priceless to its players and employees, but the club has in fact listed a price for the historic hardware.

In a memo obtained by the Chicago Sun-Times, the Cubssay they reserve the right to buy each ring back for $1 should any employee plan to sell the rings,which each have 108 diamonds to symbolize the 108 years it took the Cubs to win the World Series.

All players and employees who received a ring are required to sign the memo to protect the ring from becoming a "saleable asset."

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

MORE: Cubs receive World Series rings, which have 108 diamonds

The ring, which is estimated to be worth up to$250,000 on the open market, can be passed on as gifts without any string attached. The Cubs say they are in the process of distributing nearly 2,000 rings to itsstaff.

In addition to the 108 diamonds, the rings also have sapphires and rubies as the centerpiece logo. The sides of the rings are emblazoned with the team's famous "W" flag and the marquee that is on the facade of Wrigley Field that faces the intersection of Clark and Addison.

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