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Tribune seeks to package Wrigley with Cubs
05/14/2008 00:43:47
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| The Tribune Company has rejected an Illinois agency's plan to buy Wrigley Field and are pushing to sell the ballpark together with the Chicago Cubs. |
By The Associated Press
CHICAGO, IL - Tribune Company and CEO Sam Zell have rejected an Illinois state agency's plan to buy Wrigley Field and are pushing ahead to sell the ballpark together with the Chicago Cubs.
That's the word Tuesday from Crane Kenney, the Cubs' chairman and outgoing general counsel of parent Tribune. He says there's still a chance that Wrigley could be sold separately to the Illinois Sports Facilities Authority.
But Kenney says Tribune's moving ahead to package the stadium together with the ballclub in a private sale. Outside experts believe the sale could fetch as much as $1 billion for the media conglomerate.
Kenney says the company's moving the private sale process forward and expects to get the financial books to buyers within the next two weeks. Both a Tribune spokesman and a Zell spokeswoman are declining comment.
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