The AP is reporting that the Tribune Company’s bankruptcy judge has agreed to expedited procedures, specifically with regards to the sale of the Chicago Cubs. The hearing on the sale is schedule for next Monday, August 31, and the judge also shortened the notification procedures for motions related to the sale.
Taking care of this will require a second bankruptcy petition, so rumors of “the Cubs are bankrupt” may swirl again, but pay them no mind.
In the end, the expediency of the sale approval is nice, but was never in doubt. Given that two of the Tribune Company’s largest creditors are also two of the primary financiers on the sale of the team, the sale was always going to be approved in due time.