The $900 million sale of the Chicago Cubs and Wrigley Field is inching closer to completion. Talks between the Cubs’ current owners, the Chicago Tribune, and aspiring buyer Tom Ricketts and his family are ongoing, and team chairman Crane Kenney says the two sides are very close to finalizing the deal.
Because the Tribune is in bankruptcy, the sale must first pass muster in the courts to make sure the newspapers’ creditors are taken care of. Then the transfer must be approved by Major League Baseball owners. Kenney said about the sale, “I think it’ll be a challenge to make Opening Day. If I would tell you ‘Opening Day,’ everything would have to fall into place just perfectly, and I would say that’s unlikely.”
The Ricketts family made their fortune through Incapital, a Chicago investment bank.
Saturday, March 21, 2009
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