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The Cubs Are Not Bankrupt!

The Chicago Cubs are not bankrupt.

The hapless team that did not fail to disappoint again this year is not included in the holy purge that has taken Tribune Company notables including the L A Times into what is likely to be a painful restructuring.

However, as always seems to happen with events surrounding the Cubs, there is a big loser in this. Sam Zell, (former) real estate mogul, purchased Tribune for $8.3 billion just last year. As they say, timing is everything.

HughS



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Comments (6)

As I remember the details, ... (Below threshold)

As I remember the details, Zell did not put up anywhere near $8 billion of his own money.

I guess this means they won... (Below threshold)

I guess this means they won't be going after Manny Ramirez.

Most of the Tribune's debt ... (Below threshold)
Rance:

Most of the Tribune's debt is the $8 billion that Zell borrowed.

When was the Cubbies last W... (Below threshold)
Marc:

When was the Cubbies last World Series win?

They most certainly are bankrupt, just not headed to Chapter 11 court to sort things out.

SteveI'm not suggest... (Below threshold)

Steve
I'm not suggesting Zell personally took a major hit as he probably did most of the deal with OPM. However, his very well earned reputation as a savy businessman has taken a hit.

his reputation took a hit a... (Below threshold)
stevesturm:

his reputation took a hit as soon as he did the deal.




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Section Editor: Maggie Whitton

Editors: Jay Tea, Lorie Byrd, Kim Priestap, DJ Drummond, Michael Laprarie, Baron Von Ottomatic, Shawn Mallow, Rick, Dan Karipides, Michael Avitablile, Charlie Quidnunc, Steve Schippert

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