Wednesday, March 18, 2009

Cubs Sale Not Likely Before Mid-May

This sale keeps getting pushed further and further back. I almost wonder why is this deal taking so long. I thought that Sam Zell wanted to sell this club!
The Cubs are likely to remain under the ownership of Tribune Co. through the early part of the season. Cubs chairman Crane Kenney said Wednesday it "will be a challenge" to complete the sale of the team by opening day on April 6 and that talks between the Ricketts family and the Tribune are ongoing.

"There's a negotiation that's occurring, and like every negotiation, there's an issue or two that probably wasn't spotted early that needed to be resolved," he said. "None of them are in any way fatal to the transaction. It's standard stuff, I would say. And the credit markets are challenging, and this is a transaction that will have some amount of debt on it."

A top baseball official, speaking on condition of anonymity because the sport doesn't make announcements prior to balloting, said a vote by owners to approve the deal isn't likely to take place until mid-May at the earliest.
If only I had the cash to purchase a Major League Baseball club. I hope that the hurdles that any aspiring owner wouldn't be a problem if it was me. Of course that's easier said because I'm not even in that situation at this time.

And remember the Cubs has been owned by Sam Zell for how long two years just about? Ever since he bought the Tribune Company. The Tribune Co. owns both the Chicago Tribune and other newspapers around the nation, WGN-AM and TV, and several other TV stations around the nation. To name a few other assets that I know about.

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