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Tribune to sell baseball team for USD 900 mn: report.
Tribune to sell baseball team for USD 900 mn: report
Chicago, Jul 7 (PTI) Bankrupt media company Tribune Co, parent of the Chicago Tribune, is understood to have reached an agreement to sell baseball team Chicago Cubs and its popular Wrigley Field stadium for about 900 million dollars to investment banker Tom Ricketts-led Ricketts family, media reports said Tuesday.
After more than five months of negotiations, Tribune has a written agreement to sell the baseball team and other assets to the Ricketts family. The two sides reached a deal over the weekend and forwarded an outline of their transaction known as a term sheet to Major League Baseball for its initial comments, the Chicago Tribune quoted sources as saying.
The two sides still have details to work out that will be included in a definitive ...
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