Cubs Sale Update

The Tribune reports this afternoon on the new round of bidding:

At least three prospective buyers have submitted a new round of bids to Tribune Co. for the Chicago Cubs, one of professional sports' trophy franchises.

Chicago real estate investor Hersch Klaff; the Ricketts family, founder of online brokerage TD Ameritrade Holding Corp.; and a group led by Marc Utay, a New York private equity investor, delivered their proposals by the Thanksgiving deadline, according to sources involved in the negotiations.

The name Marc Utay is new to me -- I don't recall his name being mentioned in the first round, and don't know anything about him. If you're wondering what's up with Mark Cuban, the article says:

It was unknown at the time this report was filed whether two other prospective buyers -- Houston businessman Jim Crane and Mark Cuban, owner of the Dallas Mavericks basketball team -- had submitted new bids.

While Cuban has expressed ardent interest in the Cubs, he has not been active in the sales process for months, according to a source. His chances to buy the team took a hit when federal securities regulators charged him last month with insider trading.

I still believe the Ricketts group is the one that will eventually end up with the Cubs; the Ricketts family, though living now in Omaha, has Chicago roots and from what I have heard, would stand back, let the baseball people run the show and open up the purse strings. As ever, we await further developments.

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