 |
| Author |
Message |
Dave
|
|
Post subject: Sale of Cubs approved by MLB
 Posted: Oct 06, 2009 - 06:11 PM CST
|
|
Site Admin
Joined: Apr 18, 2005
Posts: 628
  
Status: Offline
|
|
Major League Baseball unanimously approved the transfer of the Cubs to the Ricketts family after a conference-call vote with the 29 other clubs on Tuesday.
The deal is expected to be finalized by the end of the month, at which time the Ricketts family will assume day-to-day control of the club.
"We're extremely pleased that the sales process is drawing to a close, and we are confident that the Ricketts family will be great owners and custodians of the Chicago Cubs," MLB Commissioner Allan H. (Bud) Selig said in a statement. "All of us at Major League Baseball are grateful to the Tribune Company for their years of stewardship of this proud and historic franchise."
The club still needs to go through another bankruptcy proceeding early next week for a period of 24 hours, according to The Chicago Tribune. When that step is finalized, the banks who are financing the deal will have a 10-day period before having to fund the transaction. |
|
|
| |
|
|
|
 |
|
|
|
|
FAQ
Search
Register
Log in to check your private messages
Log in
Sub-Category
