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"No Formal Timetable" For Cub Sale

That, from MLB COO Bob DuPuy, at the owners' meetings going on this week in Scottsdale, Arizona:

Prospective buyers have been submitting to background checks, but Major League Baseball's ownership committee has not been given a formal financial offer to review.

Tribune Co. said last month it anticipated closing on the Cubs sale by mid-2008. Analysts have said the Cubs could fetch as much as $1 billion if packaged with Wrigley Field.

The original statement by Sam Zell was that he hoped to finalize the sale by Opening Day. That's now only 73 days away. It doesn't seem likely.

We await developments.