According to Cranes, the Cubs WILL have a new prospective owner by the end of December. It looks like Zell really needs the money from the sale ASAP and even though it won't be completed in time to make a debt payment, if there is a seller set, the banks should look favorably on Zell.
Tribune Co. CEO Sam Zell is pushing to have a deal in place by yearend to sell all but a small stake in the Chicago Cubs, despite recent indications that he might retain 50% of the ballclub. Mr. Zell expects to select a finalist from the five remaining bidding groups and submit the deal for Major League Baseball's approval sometime in December, a person familiar with the sale says. He is fast-tracking the sale — despite a credit crunch that seemed to put his year-end deadline in doubt — as pressure mounts to raise as much as $1 billion to chip away at the mountain of debt from his 2007 buyout of Tribune.
Kasey See my Pictures of the 2008 Cubs at http://cubsbythenumbers.com/cub-pics-2008.html
Also, see the Cubs 2009 schedule at http://cubsbythenumbers.com/sched2009.html