Chicago is My Home

13
Jun

Tribune Co. Releases Financial Books to Nine Potential Billionaire Buyers

Author: Adam Fendelman, Category: Business

CHICAGO – The Tribune Company in Chicago sent out financial books on Wrigley Field this week to nine potential, pre-approved buyers.

While the Tribune Co. is trying to keep details of the process confidential, the company did reveal that two books went out. One contains information on the Chicago Cubs, Wrigley Field and Comcast SportsNet while the other concerns only Wrigley, which the Tribune Co. is hoping to sell separately.

According to sports economists, the interest of several billionaires including John Canning (the chairman of private equity firm Madison Dearborn Partner), Dallas Mavericks owner Mark Cuban and the family of TD Ameritrade founder Joe Ricketts will possibly cause the sale to exceed the $660 million record-setting sale of the Boston Red Sox in 2002.

In addition to Wrigley, the package for the Cubs includes the Tribune’s 25 percent stake in the Comcast sports channel. This is creating buzz that the total sale could reach $1 billion. Bids from buyers are expected by next month.

By Jenna Zizzo