Is the ridiculous drama of selecting the guy that gets the privilege of TRYING to become the next Chicago Cubs owner finally over?
Tribune Co’s creditors favor the bid of Tom Ricketts, the head of a Chicago investment bank, to buy the Chicago Cubs baseball team, a source familiar with a key creditors meeting said on Thursday. Reuters.
HOORAY! IT’S OVER! AND THE WINNER IS TOM RICKETTS, THE GUY MOST CUBS FANS FAVOR!!!!
Wait, why is there more in this article…
The process is not over, however, as rival bidders may still choose to raise their bids and Major League Baseball must approve any group before the deal can close, said the source, who asked not to be identified because the sale is still ongoing.
Son of a BITCH!
Well, at least the article throws us a bone:
That means a group led by Marc Utay, a managing partner with New York-based private equity firm Clarion Capital Partners LLC, is still in the game.
A bid by Chicago real estate executive Hersh Klaff had fallen behind the other two, sources said.
So it’s probably Ricketts. It’s definitely Ricketts or Utay.
UPDATE: Looks like the winning bid was around $900 million for the team, Wrigley Field, and a 25% stake in Comcast SportsNet. We’ll see what that figure settles at when negotiations are completed.