New Bids Submitted for the Cubs

According to reports from Reuters.com and Cubs.com, “at least three groups submitted offers on Monday to the Tribune Company in the latest round of bidding for the Chicago Cubs.Reuters identified the following three groups:

The Ricketts Group, led by Tom Ricketts executive of Chicago Investment bank Incapital LLC and son of the founder of TD Ameritrade Holding Corp. Marc Utay, a managing partner with the New York-based private equity firm Clarion Capital Partners, LLC; and Chicago real estate executive Hersh Klaff.

Most feel The Ricketts Group is the leading candidate to purchase the Cubs but bidding is still ongoing according to the report from Reuters.

Mark Cuban apparently did not submit a bid according to the report from Cubs.com.

According to the report from Cubs.com:

Monday’s round of bids came after the groups had received more detailed financial data on the Cubs, Wrigley Field, and a 25-percent stake in a regional sports TV network. The bidders had met with executives from Major League Baseball.

Will update when more information becomes available….

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