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Cubs Bidders Down to 5 - Cuban In, Canning Out

And now there are only 5. The Tribune Company has reportedly narrowed the pool of bidders for the Cubs down to 5, all of whom have bid more than $1 billion. In what can be considered a major upset, the early odds on favorite, Commissioner Bud's bff, John Canning, Jr. is out and Commissioner Stern's nemesis Mark Cuban is still in.

Of course, even if he is the high bidder, Cuban must still be approved by 75% of the Lords of Baseball and if Commissioner Bud doesn't want him, that would, at first blush, seem to be unlikely. However, if Sam Zell, the Tribune owner, carries his fight for the sale of the Cubs to the boardroom of MLB with a sales price of more than $1 billion, establishing not only a new record price for a baseball franchise, but a value the other owners can then point to when they decide to get out, Zell just might be able to persuade them to accept whomever he chooses as a buyer. I have a suspicion that no matter what public comments may be made, all of the bidders have been pre-approved by the Commissioner's office, given how long and drawn this sales process has been.

Full post as published by Sports Biz on July 24, 2008 (boomark / email).