10-24-2009, 04:11 PM
<!--quoteo(post=67157:date=Oct 24 2009, 02:44 PM:name=rok)-->QUOTE (rok @ Oct 24 2009, 02:44 PM) <{POST_SNAPBACK}><!--quotec-->Next Tuesday is the day. [img]style_emoticons/<#EMO_DIR#>/cheers.gif[/img]
http://www.chicagobusiness.com/cgi-bin/news.pl?id=35904
<!--quoteo--><div class='quotetop'>QUOTE <!--quotec-->Cubs days away from changing hands
By: Ann Saphir Oct. 23, 2009
(Crain’s) — The Chicago Cubs are expected to have new owners by the end of next week, as the family of TD Ameritrade Holding Corp. founder Joe Ricketts completes its $845-million purchase of the team.
Chicago-based bond salesman Thomas Ricketts, who has led his family’s bid during a 2½-year-long process, will be chairman of an enterprise that also owns Wrigley Field and a 25% stake in Comcast SportsNet Chicago. Tribune Co., which bought the team for about $20 million in 1981, will keep a 5% stake in the business as a way to avoid a hefty capital gains tax.
Earlier this month, approvals from Major League Baseball and a judge overseeing Tribune’s bankruptcy case cleared the way for the transaction. The team is running out the clock on a 10-day period for objectors to register any dissent in Bankruptcy Court. That period will be up early next week; the deal’s close is tentatively scheduled for Tuesday, one insider says, although such dates can easily slip.<!--QuoteEnd--><!--QuoteEEnd-->
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[img]style_emoticons/<#EMO_DIR#>/cavalry.gif[/img]
http://www.chicagobusiness.com/cgi-bin/news.pl?id=35904
<!--quoteo--><div class='quotetop'>QUOTE <!--quotec-->Cubs days away from changing hands
By: Ann Saphir Oct. 23, 2009
(Crain’s) — The Chicago Cubs are expected to have new owners by the end of next week, as the family of TD Ameritrade Holding Corp. founder Joe Ricketts completes its $845-million purchase of the team.
Chicago-based bond salesman Thomas Ricketts, who has led his family’s bid during a 2½-year-long process, will be chairman of an enterprise that also owns Wrigley Field and a 25% stake in Comcast SportsNet Chicago. Tribune Co., which bought the team for about $20 million in 1981, will keep a 5% stake in the business as a way to avoid a hefty capital gains tax.
Earlier this month, approvals from Major League Baseball and a judge overseeing Tribune’s bankruptcy case cleared the way for the transaction. The team is running out the clock on a 10-day period for objectors to register any dissent in Bankruptcy Court. That period will be up early next week; the deal’s close is tentatively scheduled for Tuesday, one insider says, although such dates can easily slip.<!--QuoteEnd--><!--QuoteEEnd-->
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[img]style_emoticons/<#EMO_DIR#>/cavalry.gif[/img]