As if there was not enough drama surrounding the Chicago Cubs auction, Reuters is reporting that the baseball franchise is not exclusively negotiating with the Ricketts family, a move that many feel is highly unlikely.
In the latest twist, Reuters reported citing unnamed sources that the exclusive negotiating period between the Cubs and Tom Ricketts has ended and the team has restarted talks with investors Marc Utay and Leo Hindery. Utay was in the original group of bidders in the running before Ricketts was selected in January.
One industry banker familiar with the situation begs to differ saying the exclusive window ended "months ago" and the team is now free to talk to whoever it wants. He added that the Cubs are "very close" to a deal, but still requires approval from the league's other 29 owners as well as bankruptcy court.
The latest report comes almost 24 hours after CNBC reported that the deal hit a snag with the purchase price, taxes and broadcasting matters, and if not addressed, Tribune Co. will begin talking to the other potential bidders. The source said everything is moving along and some "minor adjustments" may be made to the deal price. - Demitri Diakantonis
