05-18-2009, 11:43 AM
Well, this sucks...
http://www.reuters.com/article/mergersNews...631027320090516
<!--quoteo-->QUOTE <!--quotec-->Baseball's general counsel, speaking at a sports law conference in Chicago, would not confirm the bid would not come up for a vote, but alluded to the delays.
"I thought I'd be reporting today that the Cubs' sale was going to be approved next week at our owners' meeting in New York, but negotiations there are just dragging on and taking a lot longer than anyone expected," Thomas Ostertag said. "There's really nothing more to report."
Getting the deal completed before the end of the regular season in early October is still possible, said the second source, who also was not authorized to speak on the matter.
Bankruptcy lawyers have said that once baseball owners agree to the deal, it could take a further two to four weeks for bankruptcy court approval.<!--QuoteEnd--><!--QuoteEEnd-->
http://www.reuters.com/article/mergersNews...631027320090516
<!--quoteo-->QUOTE <!--quotec-->Baseball's general counsel, speaking at a sports law conference in Chicago, would not confirm the bid would not come up for a vote, but alluded to the delays.
"I thought I'd be reporting today that the Cubs' sale was going to be approved next week at our owners' meeting in New York, but negotiations there are just dragging on and taking a lot longer than anyone expected," Thomas Ostertag said. "There's really nothing more to report."
Getting the deal completed before the end of the regular season in early October is still possible, said the second source, who also was not authorized to speak on the matter.
Bankruptcy lawyers have said that once baseball owners agree to the deal, it could take a further two to four weeks for bankruptcy court approval.<!--QuoteEnd--><!--QuoteEEnd-->