Hold the phone, North Siders. Wrigley Field and its tenants have supposedly been sold for $900 million, but a new suitor has stepped in to Cubsblock the Ricketts. Will the team slip through their fingers like a groundball to short?
Because the Tribune Company is ... how you say? ... bankrupt, no deal is final until a court says it is. The company reached a "handshake" deal with banker Tom Ricketts, but today it was revealed that a new private equity group has submitted their own offer, that is also to the liking of the current owners. The new offer is for a higher total price, but the Ricketts family's offer provides more money up front so that gives them a slight advantage. (Bankrupt companies need cash, after all.)
So now both bids will likely be submitted to the court and the judge will get to choose the Cubs' new owner. The loser gets custody of the Bleacher Bums.