Since purchasing the Chicago Tribune in 2007, owner Sam Zell has been looking to sell the Chicago Cubs. A sale was expected in 2008, then before the start of the 2009 season. Now it's July, the season is halfway over, and the sale is far from complete. In recent weeks it looked as if the Ricketts group, who had been selected to purchase the team, would not be able to buy it after all and the process would have to start over again from scratch.
On Monday Tribune Company completed a written agreement with the Ricketts family, committing to a sale. There are still details to work out, but it appears that the sale will finally be completed soon.
Ricketts, of Wilmette, represents a return to family ownership for the team, which was purchased by the Tribune Company in 1982. Over the years, Tribune was often accused of caring more about profit than the team on the field, and many believed there was a conflict of interest with a newspaper supposed to be offering unbiased coverage of sports owning one of Chicago's major sports franchises.
Do you think this is a good move for Chicago and the team? Is it good to remove the potential conflicts of interest and take this private? Or will a family find itself unable to cope with the steadily rising salaries and expenses that go with modern major league baseball teams? Do you think this will bring other changes to the organization?