As long-expected, today the Chicago Cubs filed for Chapter 11 bankruptcy protection as a part of the sale of the team to Tom Ricketts.

Though the move was reported months ago, and is merely a procedural maneuver designed to help speed the transaction along, neither fact is prevent ESPN’s bottom line from having you believe that OH MY GOD THE CHICAGO CUBS ARE TOTALLY OUT OF MONEY!!!!1!!!!1!LOL!!!!

Relax. All is well in Cubland. Er, as well as it can be right now, anyway.

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