RealGM

Associated Press wrote:Tribune Co. accepted a buyout offer from real estate investor Sam Zell, a person with knowledge of the deal said Monday. Terms were not immediately available.

After spending six months soliciting bids and reviewing offers, Chicago-based Tribune had set a self-imposed March 31 deadline to announce a spin-off, buyout or reorganization.

Tribune, which owns the Chicago Tribune, Los Angeles Times, TV stations and the Chicago Cubs, had been considering competing offers from Zell and from Los Angeles billionaires Eli Broad and Ron Burkle.

Associated Press wrote:Tribune Co. said it plans to sell the Chicago
Cubs at the end of the 2007 baseball season, putting one of its
most valuable assets on the block as it simultaneously announced
Monday that real estate magnate Sam Zell was acquiring the media
conglomerate.

Analysts have estimated that the Cubs could fetch $600 million
or more. Tribune bought the team in 1981 for $20.5 million.

"The Cubs have been an important part of Tribune for more than
25 years and are one of the most storied franchises in all of
sports," said Dennis FitzSimons, Tribune chairman, president and
chief executive officer. "In our last season of ownership, the
team has one mission, and that is to win for our great fans."

nitetrain8603 wrote:Apparently it's for 8.2 billion dollars. How loaded is the guy? Anyway, I hope for the sake of Cubs fans that he honestly wants to win and not only because of monetary reasons. Rather, that shouldn't be his prime reason.

The list of prospective buyers is expected to include well-known sports figures such as Jerry Colangelo, a Chicago Heights native who was managing partner of the Arizona Diamondbacks when they won the 2001 World Series. Also among the likely bidders is Mark Cuban, the brash technology entrepreneur who sits courtside and jaws with officials as owner of the Dallas Mavericks NBA team.

Yet Major League Baseball Commissioner Bud Selig, in a visit to U.S. Cellular Field on Monday for the White Sox opener, indicated he would prefer to find a local buyer.

"Whenever you can find viable local ownership, that's a good thing. A very good thing," Selig said. The Comcast investment "will probably get sold right along with the ballclub," Selig added.

Local bidders may include Don Levin, the owner of minor-league hockey's Chicago Wolves who made an offer for the Cubs last fall. Andy McKenna, the septuagenarian Chicago civic leader who served as chairman of the Cubs early in the Tribune Co. ownership, is mentioned as capable of putting together an investor group. Chris Reyes, chief executive of privately owned Reyes Holdings, might consider a minority position in the Cubs, sources said.

Professor Frink wrote:I also read that Colangelo is interested in the Cubs. He's another good sports owner.

SportsWorld wrote:I saw Cuban when the Bulls played the Mavericks in January at the UC sign a couple of posters that said "Cuban buy the Cubs" He has shown interest in us.
Another good possibility is Donald Trump.

BUT PLEASE GOD NOT THE HAWKS OWNER

Robert23 wrote:-= original quote snipped =-


He seems like a good owner in the short run but was he still in charge of the diamondbacks when they started cutting costs? I'm not a big fan of the marlins and diamondbacks philosphy of win a WS then cut costs. Although if thats gets the Cubs I'll gladly take it but I'd prefer they always try and stay in contention even after winning the world series.