Cubs Will Be Sold By Spring Training: Team Chairman

CHICAGO — The chairman of the Chicago Cubs said Friday he expects the baseball franchise to be sold by spring training.

Chairman Crane Kenney told the Chicago Tribune for a story on its Web site that the Cubs are going over the bids they've received and expect the sale by spring training. Both the team and the newspaper are owned by Chicago-based Tribune Co.

Spring training starts in mid-February and ends April 4.

Kenney also denied reports that Tribune chief executive Sam Zell would hold on to a big stake in the team after its sale.

"The bids that came in were for control of the team where for Sam, any interest would be a small interest," Kenney said. "I think at some point people were talking about Sam holding almost half of it. That's not the way they (bid).

"People are ready to come in, and while the economy is as challenging as it is, I think the value of the franchise really hasn't changed long-term. I think the bidders are all well financed and understand that. They didn't deviate much from where the value should be."

According to media reports earlier this week, at least three would-be buyers of the team have submitted second-round bids to Tribune. Kenney said he didn't know if he'd remain with the team under the new owner.

A sale of the Cubs and Wrigley Field, the nation's second-oldest baseball stadium, would also include the company's 25 percent stake in a regional sports cable channel.

The team's sale must be approved by Major League Baseball.

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Information from: Chicago Tribune, http://www.chicagotribune.com

Comments

[larry278]

Will the Lords of MLB allow Sam Zell to take Mark Cuban's money? Mr Cuban could make the Cubs exciting, hire players who could help the Cubs win their division, the NL pennant & the Series in 6 years. Mr Cuban could get the Cubs a domed stadium too. Chicago has killer winds, if you've noticed. How about rebuilding Wrigley Field as a domed stadium? Mr Cuban could make it happen.
If MLB has its way-the Cubs will go to Japan along with the Reds or Pirates so the Japanese can have 2 rival teams in Japan. Chicago would get an expansion team when MLB expands the NL & AL---sometime. Don't be surprised if the Sox move to Northern Indiana to a domed park, regardless of who gets to buy the Cubs. MLB, get over it-Mark Cuban is loud, brash, would demand the Cubs become winners & have the money to successfuly pull Bill Veeck stunts. Mr Cuban could make baseball fun again. Yes, fun-Chicago fans deserve a fun, winning team, NL winner & Series champ.
Let Chicago have a champinship Cubs & fun. They deserve it: a fun Cubs, a World Series Champ Cubs, a state of the art domed stadium. If NYC can build 2 new parks-Chicago & Cuban can build a domed stadium at the site of Wrigley. MLB will learn to live with Cuban & maybe, have fun too.