The Cubs have announced that they expect to complete the sale of the team in the first half of 2008 and plan to use the proceeds to pay down some debt and complete the $8.2 billion buyout from Chicago billionaire Sam Zell.
From Reuters via MSNBC:
Publisher and broadcaster Tribune Co said on Wednesday it now expects to complete the sale of the Chicago Cubs baseball team, Wrigley Field and other assets in the first half of 2008.
Analysts believe the assets, which include a stake in sports cable TV network [Comcast] SportsNet Chicago, could attract bids topping $1 billion.
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