Found July 14, 2009 on Chicago Sun Times:
It's not as bad as years of disappointment for their fans, but the Chicago Cubs are close to bankruptcy despite being one of baseball's most popular franchises. Tribune Co. plans to take the Cubs to bankruptcy to complete its sale to the billionaire Ricketts family, according to a high-level team source. The Cubs were excluded when Tribune, groaning under $13 billion in debt, filed for bankruptcy last December. Taking the Cubs to bankruptcy has been part of the sale plan from the start, according to the source.
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