July 7, 2009

Tribune Reaches Deal to Sell Cubs

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Cubs fans, here's the news you've been waiting for! Maybe. Or not. Here's the scoop, figure it out for yourself:

Tribune Reaches Deal to Sell Cubs

The Ricketts family has reached a deal for bankrupt media company Tribune Co to sell the storied Chicago Cubs baseball team. for slightly less than the original $900 million bid, a source familiar with the deal said Monday.

As the Tribune reaches a deal to sell the cubs, the word is as follows: "There is a deal between the Ricketts and Tribune Co." to sell the Cubs, said the source, who asked not to be identified because the agreement has not been announced. Spokesmen for Ricketts and Tribune Co. (TRBCQ) were not immediately available to comment. The Ricketts family, led by Chicago investment banker Tom Ricketts, agreed in January to buy the team, its home park of Wrigley Field and a stake in a regional sports cable TV network for $900 million.

Sources say the deal stipulates the the Chicago Cubs will continue to be mediocre and tantalize their fans for another 60 years before winning another championship. Parts of this last paragraph may be completely made up.

Tribune Reaches Deal to Sell Cubs

Posted at July 7, 2009 4:13 AM

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