Chicago Cubs Close To Being Sold

The long-pending sale of the Chicago Cubs appears close to being finalized. Media reports say the Tribune Co. has reached a written agreement to sell the popular but hard-luck baseball team for close to $900 million.

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In other news, the Chicago Cubs could soon have a new owner. The Chicago Tribune and other media report that the Tribune Company has reached an agreement to sell the popular and famously hard-luck baseball team for close to $900 million.

From Chicago, NPR's David Schaper reports.

DAVID SCHAPER: Everything involving the Chicago Cubs seems to take ages. The team hasn't won a world series in over a hundred years, hasn't been to the World Series in over 60, and even the sale of this, one of the most valuable franchises in sports, has dragged on. Chicago-based Tribune Company, which has filed for bankruptcy selected the bid of the Ricketts family, founders of TD Ameritrade, to buy the team and its iconic ballpark Wrigley Field this past winter. The two sides haggled over the details for months, before reportedly ironing out a written agreement over the holiday weekend. It has been forwarded to Major League Baseball for review. ESPN writer and analyst Lester Munson says there's a lot for fans to like about the new owners.

Mr. LESTER MUNSON (Writer and Analyst, ESPN.com): Tom Ricketts is a serious Cub fan. He goes to a lot of games. He met his wife sitting in the bleachers. And we, who are Cub fans, are totally enthusiastic about this guy taking over the team.

SCHAPER: Major League Baseball and a bankruptcy court still must approve the deal, which could take another few months.

David Schaper, NPR News, Chicago.

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