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Chicago Cubs File for Chapter 11 Bankruptcy Protection

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erpowers Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-12-09 11:22 AM
Original message
Chicago Cubs File for Chapter 11 Bankruptcy Protection
It is being reported on the MSNBC website banner that the Chicago Cubs have filed for Chapter 11 Bankruptcy protection.
So for the website is not reporting a story they just have a headline.

http://www.msnbc.msn.com/
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JonLP24 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-12-09 11:28 AM
Response to Original message
1. Chicago Cubs file for Ch. 11 to speed team's sale
WILMINGTON, Del. (AP) -- The Chicago Cubs baseball team is seeking Chapter 11 protection, a step that will allow its corporate parent to hand the team to new owners.

The team filed for bankruptcy in Delaware on Monday. The move was anticipated as the Tribune Co. looks to complete an $845 million sale of the team, Wrigley Field and related properties to the family of billionaire Joe Ricketts.

Tribune, which also owns the Chicago Tribune and the Los Angeles Times, filed for bankruptcy protection in December, but the Cubs were not included in the filing. The team's brief stay in Chapter 11 is expected to protect the team's new owners from potential claims from Tribune creditors.
http://www.wztv.com/template/inews_wire/wires.national/30d1838e-www.fox17.com.shtml
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madinmaryland Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-12-09 03:17 PM
Response to Reply #1
2. In Delaware???
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