Finally: Bidding for Chicago Cubs may be near an end

Tribune Co. owner of the Chicago Cubs is close to selecting a winning bid for the team from three finalists, according to people familiar with the sales talks. The Tribune could announce the winning in as soon as 10 days. Three prospective buyers made offers for the franchise at the end of November: Chicago real estate investor Hersch Klaff; the Ricketts family, founders of online brokerage TD Ameritrade Holding Corporation and a group led by Marc Utay, a New York private-equity investor who grew up in Chicago. If the winning bidder is able to finalize a contract with Tribune Co., the buyer must be approved by three-quarters of baseball owners. It is also possible a bankruptcy court judge will have a say in the process, because Tribune Co. filed for Chapter 11 protection Dec. 8. The Cubs are not included in the filing, but the sale would generate proceeds for debtholders. Maybe now we can make big trades for people such as Jake Peavy

-Matticus

Source: Chicago Tribune