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Sale of Cubs Could Drag on Past May


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The sale of the Chicago Cubs baseball team could drag on past May as the Ricketts family arranges financing for its $900 million bid and works for Major League Baseball's approval.


Officials with Tribune Co, which is selling the team, its storied home park of Wrigley Field and a 25 percent stake in a local sports TV network, had originally hoped to have the deal done in May.


"They are being optimistic, frankly, despite good intentions all the way around," said a person with knowledge of the sale who was not authorized to speak on the matter.


Cubs Chairman Crane Kenney declined to speculate on when a sale might be completed. The Cubs play their first home game on Monday against the Colorado Rockies.


But others were more optimistic about the timetable.


"I still think we're going to get it done in May. I don't see why we're not," said a second source familiar with the sales process who asked not to be identified.


Tom Ricketts, the Chicago-based chief executive of Incapital LLC and the son of the founder of TD Ameritrade Holding Corp., is leading his family's bid for the Cubs.



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Probably should go in it's own thread but this is close enough..


Do you ever think the Tribune wished they had sold this team long ago so they could have got top dollar? Reports I was reading long long ago said Cuban bid 1.3B on his first bid. True or not I don't know, but it seems like had the world money markets not taken a huge crap on them they could have got more than 900M for the team. I'm sure that the sale of a baseball team is complicated, but I would have to think it's not 3 years of complications. Wonder if the Tribune thought:

Dump money into the team, drive fans through the gates and win = Drive the price up. (I'm sure it would).

However they did not consider the future economy three years from that point, just a thought I have had often.

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Luckily I preemptively had given up hope of this being completed this season. So I'm not too upset. Just, please, for the love of all that is holy get this wrapped up before the next offseason.

Next offseason? Screw that have it done by the trading deadline.

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