Bankruptcy Court Gives Tribune Co. to Proceed with Cubs Sale to Ricketts Family

Posted on 16 October 2009 by Lou

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All hands on deck.  The completion of the Cubs sale to the Ricketts Family is inching closer and closer to fruition. Earlier this week, a U.S. bankruptcy court judge ruled that the Tribune Co. can proceed with the sale of the Chicago Cubs to the Ricketts Family for the whopping sum of $845 million. The 1-day bankruptcy filing took place to protect the Ricketts Family from future lawsuits by Tribune Co. creditors who might try to seek a claim against the Chicago Cubs entity.  Now that the courts have ruled that the Tribune Co. and the Cubs can proceed with the sale, things should move along quickly.

Yippee!!!  As I have said before, the Cubs really need to get the Ricketts Family on board before the start of the free agency period (which begins 15 days after the end of the World Series) if the Cubs are to have any chance of making a tiny “dip” (definitely not a big splash) in the free agent market.  With the departure of Rich Harden and hopefully Milton Bradley (even if we have to eat some of his salary), that should free up a little money from which GM Jim Hendry can add a piece or two. The Cubs clearly won’t be able to land a Matt Holliday or Jason Bay, but the Cubs do have some holds that need to be filled.  Having the Ricketts family in place to give guidance to Hendry by the end of October will be a huge step in the right direction.

Go Cubs Go!

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