Cubs Sold to Ameritrade Founder For $900M

[JTWood]

(AP)—The Tribune Co. has reached a written agreement to sell the Chicago Cubs, Wrigley Field and other assets to the family of TD Ameritrade founder Joe Ricketts for about $900 million, a person close to the negotiations said Monday.

[keeks137]

Yup.

Now all it has to do is clear the owners and the courts (because of the Tribune bankruptcy thing).

I was optomistic that this may mean that the Cubs would potentially be able to make a bigger deal before the trade deadline. However, the fact that it took this long to finalize, and part of the reason was Ricketts's finances, I'm a little concerned about that point as well as the team's future.

We'll see I guess.

[knapplc]

Nothing could be worse than the last 28 years of Tribune Co. "leadership."

Get. This. Sale. Done. Now.

[KCollins1304]

I hear the Cubs are interested.

[Pogotheostrich]

Nothing could be worse than the last 28 years of Tribune Co. "leadership."

Get. This. Sale. Done. Now.

This is going to be so fun to quote in 2-3 years.

[jealousblues]

Nothing could be worse than the last 28 years of Tribune Co. "leadership."

Get. This. Sale. Done. Now.

This is going to be so fun to quote in 2-3 years.

hopefully

[JTWood]

Cubs reportedly to file for Chapter 11

CHICAGO -- The Chicago Cubs might file for Chapter 11 in order to speed their sale by bankrupt media company Tribune Co., according to several media reports.

Reuters first reported the story Monday, citing sources familiar with the process. If they file, the Cubs would become the first team to declare bankruptcy since the Seattle Pilots went belly-up in 1970.

[keeks137]

I think this cleary exhibits the fact that I have no concept of the bankruptcy process. A team that consistently sets and breaks attendance records filing.

Fair enough.

[Giambis]

I think this cleary exhibits the fact that I have no concept of the bankruptcy process. A team that consistently sets and breaks attendance records filing.

Fair enough.

Just gives you a sense of the huge money suck that is the newspaper business these days.

[CadensDad]

Ummmmmmm isn't the team reportedly only worth like 450mil? Maybe I'm just silly but this price tag seems way too much.