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The most recent hurdle was Aug. 21 when the Ricketts family, owners of the stock brokerage firm that morphed into online trading giant TD Ameritrade Holding Corp. (NASDAQ:AMTD), came to a finalized agreement to acquire 95% of the Cubs, Wrigley Field and Tribune's 25% interest in Comcast SportsNet Chicago for $845 million. But the transaction may need to round two more bases for the deal to be a final score. First, the Cubs may need federal bankruptcy approval to emerge from Chapter 11 if the bankrupt parent Tribune places the Cubs into Chapter 11, as detailed last month. When Tribune filed for bankruptcy, it did not place the National League franchise and its associated assets in bankruptcy with the rest of the company. So far, there has been no filing for the team formally known as Chicago National League Ball Club Inc., but the rationale for a filing is to free the franchise from the company's financial obligations. Second, owners of Major League Baseball also need to vote to approve the sale of the club to the Ricketts family. If all goes as planned, the Ricketts could be the official owners of the Cubs by the World Series in late October. Now, the Cubs are a long shot of making it to the fall classic -- they are eight games back in the NL Central and seven games back in the wild card admittedly making an appearance in the playoffs an altogether long shot -- but wouldn't that be a fortuitous reward for the Ricketts family who, starting in January, went through an exhaustive extra-inning negotiation process for the club? - Gerald Magpily
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For the Ricketts family, negotiations with Tribune Co. for the Chicago Cubs have 
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