Some bidders for the Tribune Co.'s Chicago Cubs reportedly
struck out as the bidding for the baseball team enters a second inning. Dealmaker John Canning of Madison
Dearborn Partners, who was widely seen as a front-runner, may no longer be in the game because his bidding allegedly fell short, according to an article in the
Chicago Tribune.
However, Canning wasn't alone. Don Levin, owner of minor league hockey team the Chicago Wolves, also may have struck out, according to the article. Bids are expected to be over $1 billion for the Cubs, Wrigley Field and a stake in Comcast SportsNet.
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Bidders who may have been given more detailed financial information and
remain in the game include Dallas Mavericks owner Mark
Cuban; real
estate executive Hersch Klaff; a group headed by
Michael Tokarz of MVC
Capital Inc.; the family of Joe Ricketts, founder of TD Ameritrade
Holding Corp.; and Sports Properties Acquisition Corp.
Additionally, Canning may get a second chance at bat, according to the Tribune story. As for Levin, his comments to the Tribune seem to imply he is out of the game for good. - Maria Woehr
See Dealscape's The Cub's bidders are in
See Dealscape's Cub's take first rounds of bids
