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Three or More Possible Bidders Meet Deadline for Cubs Sale PDF Print E-mail
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MLB Club Sales
Written by Maury Brown   
Tuesday, 02 December 2008 00:20
Sale of the Chicago Cubs

It appears that three – maybe more – bidders for the Chicago Cubs, Wrigley Field, and a 25 percent stake in Comcast SportsNet Chicago have delivered what could be the final offering figures. According to a report by the Chicago Tribune, Thomas Ricketts, chief executive of Chicago investment bank Incapital LLC and the son of Joseph Ricketts, the founder of TD Ameritrade Holding Corp; Marc Utay, a managing partner with New York-based private equity firm Clarion Capital Partners LLC; and Chicago real estate executive Hersh Klaff are still in the running.

It is not known whether Jim Crane, the former chief executive of freight-forwarding company EGL Inc. is still in the mix. Nor is it known whether Dallas Mavericks owner Mark Cuban is completely out of the running, although reports are that he has not been considered to be in the mix for some time now.

According to the report, Crane and Cuban could not be reached for comment. Representatives from the other three bidders said to be actively in the mix would not comment.

The Biz of Baseball reported earlier that Thomas Ricketts was rumored to be the favorite to land the Cubs and its associated assets. The rumor of Ricketts being a front runner was before the heavy downward spiral of the financial markets. His stock remains high to land the Cubs.

Maury BrownMaury Brown is the Founder and President of the Business of Sports Network, which includes The Biz of Baseball, The Biz of Football, The Biz of Basketball and The Biz of Hockey. He is contributor to Baseball Prospectus, and is available as a freelance writer. Brown's full bio is here. He looks forward to your comments via email and can be contacted through the Business of Sports Network.

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