Monday, October 8, 2007

Efforts to sell Cubs slowed to a crawl

Zell is looking to maximize profits so the team may still be a Tribune property after the Zell Deal is finalized.

The slowdown has mystified bidders, who months ago submitted applications required by Major League Baseball, but since have heard little. "It's maddening," says an adviser to one bidding group who, like most involved with the sale, requested anonymity. Offering documents won't be ready for weeks, a source familiar with Tribune's planning says.

But Tribune is in no hurry as it decides whether to sell the team, Wrigley Field and other assets in one piece or individually.

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