By Tom Hals
WILMINGTON, Delaware (Reuters) - The Chicago Cubs baseball team filed for bankruptcy on Monday as part of the team's planned sale to the Ricketts family by the Tribune Co, according to court documents.
The Cubs bankruptcy is aimed at shedding any claims on the team related to the bankruptcy of Tribune Co, a media conglomerate.
As part of the agreement that received the approval of a bankruptcy court last month, Tribune will contribute the Cubs, Wrigley Field and its stake in a sports television network to a new company.
to read more click here
WILMINGTON, Delaware (Reuters) - The Chicago Cubs baseball team filed for bankruptcy on Monday as part of the team's planned sale to the Ricketts family by the Tribune Co, according to court documents.
The Cubs bankruptcy is aimed at shedding any claims on the team related to the bankruptcy of Tribune Co, a media conglomerate.
As part of the agreement that received the approval of a bankruptcy court last month, Tribune will contribute the Cubs, Wrigley Field and its stake in a sports television network to a new company.
to read more click here
Posted by: Nicole Nelson
I wrote about this and it still amazes me that a team can go bankrupt but it is just like any other business. I just hope it doesn't become a trend among the MLB.
ReplyDeletePosted By: Sara Sindelar