The news is now reporting that Zell is about to "lose" control of the Tribune and its going to go into a full blown Bankruptcy situation.   Losing Zell?  Normally that wouldn't really be a bad thing.  But in this case it would throw the whole Tribune situation up in the air and we could well see the deal canceled and lots of other problems develop.   The only "plus" is that, under bankruptcy, (and notwithstanding the screams of the players union) the Cubs could well seek to void the contracts of Soriano, Bradley, Lee and any other high priced talent.  The problem is that, under that kind of hatchet, the contracts would likely be chopped simply based on dollar value and not on baseball sense.  Thus essentially any high priced Cub could be launched... or they could have their contract sold if it has value... or the Court could order the sale of the ball park and the team separately to see if it brought in more money... or order it sold to the highest bidder in an open auction... or any variety of other actions....

Am I panicing?