October 13, 2009
Cubs’ buyer chosen: Ricketts family
Cubs sold to Ricketts family: $800M
Ricketts Family: deal done couple weeks or we walk
Tribune passes first hurdle in Cubs’ sale
MLB owners approved sale of Cubs
Hyatt Hotel across from Wrigley?
The Cubs have filed for bankrupcty – one more step in completing the sale of the team. The Cubs had to file for bankruptcy separate from the Tribune Company’s Chapter 11 filing because the Cubs sale had not been finalized at the time. The hearing is today and not expected to have any hindrances. The team will be free and clear at the end of the transaction for the new owners, the Ricketts family.
Ricketts – Tribune deal
Ricketts $823M — Tribune $740M
Cubs, Wrigley, 25% Comcast SportsNet
Ricketts = 95%
Tribune Co = 5% (reduce tax bill that would come with complete sale)
Source: Chicago Breaking News’ AMEET SACHDEV
