Winning Bidder Could Be Announced Within A Week

[funkster]

Thank god its finally over.

[SandbergMVP1984]

Come on payroll bump!

[vegascub]

Isn't it possible MLB could take a while to approve this? If so, the trade deadline might come and pass. I'm not going to get too excited until the whole process is complete.

[liner]

they need 75% owner approval still, plus, considering how long it took for them to get the money figured out to get this thing done, there's no promise we'll see a payroll bump.

[ColoradoCub]

Per Sullivan:

<!--quoteo-->QUOTE <!--quotec-->As for the sale of the Cubs, GM Jim Hendry said: "All I heard is it wasn't all the way done. It's getting close."<!--QuoteEnd--><!--QuoteEEnd-->

[offcolorpoetry]

Even though it won't be officially approved until August or so, Bruce Levine said that Ricketts can direct Hendry on trades and such in an off-the-record capacity.

[vegascub]

Gotta love Rammy.

<!--quoteo-->QUOTE <!--quotec-->Third baseman Aramis Ramirez said he didn't even know who owned the Cubs. He is in the middle of a five-year, $75 million contract, making $15.65 million in 2009.

"I don't pay any attention to that (ownership negotiations)," he said.<!--QuoteEnd--><!--QuoteEEnd-->

[The Dude]

Reuters is reporting Utay also has a deal with the Cubs...

[Coach]

<!--QuoteBegin-"Reuters"+-->QUOTE ("Reuters")<!--QuoteEBegin--><!--sizeo:4--><!--/sizeo-->
UPDATE 1-
Utay, Tribune also reach deal for Cubs - sources<!--sizec--><!--/sizec-->
Tue Jul 7, 2009 12:46pm EDT

<!--sizeo:2--><!--/sizeo-->* Deal gives Tribune a second offer to submit to court

* Offer higher than Ricketts bid, but less cash upfront

* Tribune denies agreement with either party<!--sizec--><!--/sizec-->

CHICAGO/NEW YORK, July 7 (Reuters) - Tribune Co (TRBCQ.PK) has agreed to terms for the sale of the Chicago Cubs to a group led by private equity investor Marc Utay, giving the company two offers to submit to the bankruptcy court, two sources familiar with the sale process said on Tuesday.

On Monday, a source said the Ricketts family had agreed to terms for the purchase of the team for slightly less than the $900 million it offered in January.

One of the sources reporting the Utay group's deal said the new offer is "a higher price but less cash upfront" than the Ricketts bid.

"I don't think it's completely over yet," said the source, who asked not to be identified because the sale process is ongoing. "By the same token, Ricketts has a real edge here."

Tribune, which has been trying to sell the team for more than two years to reduce the company's debt burden, said no agreements are in place.

"We have not reached an agreement on terms with either party," Tribune spokesman Gary Weitman said.

Utay declined to comment and a spokesman for the Ricketts family was not immediately available to comment. (Reporting by Ben Klayman and Megan Davies; editing by John Wallace)<!--QuoteEnd--><!--QuoteEEnd-->

[ColoradoCub]

Someone needs to cockpunch Zell, hard.

[Butcher]

What the fuck?

[biggz]

<!--quoteo(post=48520:date=Jul 7 2009, 01:30 PM:name=Butcher)-->QUOTE (Butcher @ Jul 7 2009, 01:30 PM) <{POST_SNAPBACK}><!--quotec-->What the fuck?<!--QuoteEnd--><!--QuoteEEnd-->

Yeah, Zell is making me rage...hard.

[SandbergMVP1984]

...

Only the Cubs

[rok]

Hmmmmmm, well. Fuck all this bullshit. It still doesn't change the fact that Ricketts will win out, but I think Zell is trying to cover his ass just in case something doesn't work out by having a 2nd deal in place and ready to go. But wow, just wow.

[sleepyhead]

Report of second Cubs sale deal disputed
Comments

July 7, 2009
SUN-TIMES STAFF REPORT

A report Tuesday that Tribune Co. has a second agreement to sell the Cubs, this one to a group led by private equity investor Marc Utay, is untrue, a source told the Sun-Times.

Reuters News Service, attibuting information to "two sources familiar with the sale process," said the deal gives the company two offers to submit to the bankruptcy court.

A source told the Sun-Times the Reuters account is untrue and that Tribune has no final agreement with any party to acquire the team.

On Monday, Reuters reported the Cubs had reached a deal to sell the Cubs to the Ricketts family. However, the report appears to have been incorrect.

A source close to the Ricketts family told the Sun-Times Monday that the family and Tribune were "very, very close" to an $850 million to $900 million deal but that reports of a completed deal were "premature."