NEW YORK (AP)—Bidders for the Chicago Cubs have until Dec. 1 to submit offers, Major League Baseball said Wednesday after a meeting of its ownership committee.
Given the current financial climate and the difficulty in raising capital, there has been widespread speculation that bidders are having trouble raising money for a purchase of the famously unsuccessful franchise, which hasn’t won the World Series in a century.
Baseball officials do not think Dallas Mavericks owner Mark Cuban has been part of the bidding process for months. Cuban was charged Monday by federal regulators with insider trading for allegedly using confidential information on a stock sale.
It looks like the Cuban dream is starting to fade away.
