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April 18, 2008
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Zell Expects Cubs Sale To Be Completed "Sometime This Year"

Tribune Co. Chair Says Sale Of Cubs
Should Be Completed Sometime This Year

Tribune Co. Chair Sam Zell Thursday in a conference call said that he expects the Cubs' financial books "to be released to potential buyers in the next 10 days or so and a sale [of the team] to be completed 'sometime this year,'" according to Phil Rosenthal of the CHICAGO TRIBUNE. Zell also said that the sale of the team will occur "regardless of what happens in ongoing negotiations with the state" over the sale of Wrigley Field. Zell: "We're trying to do what is the optimum transaction with the Illinois Sports [Facilities] Authority while simultaneously running with a book on the Cubs going both ways, with or without the sports authority." Rosenthal notes the sale of the club has been stalled by "efforts to work out a separate transaction" for the ballpark (CHICAGO TRIBUNE, 4/18). Zell said that he is "still having 'meaningful discussions'" with the ISFA concerning Wrigley. ISFA Chair James Thompson agreed that negotiations are still "alive but said he wasn't sure if terms can be negotiated." Thompson: "Both the city and the state are united in the desire to do this deal without any cost to the taxpayer" (CHICAGO SUN-TIMES, 4/18).

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