Sale of Cubs Nearing?

According to multiple reports on Monday, the sale of the Chicago Cubs to the Ricketts Family appears to be making progress. After reports last week loosely suggested a December timeframe, reports began surfacing Monday morning that Tom Ricketts "has lined up three banks to complete the $450 million financing his group needs to finalize his purchase of the franchise." The Sports Business Journal reported that JPMorgan Chase, Citigroup and Bank of America "are set to commit to the deal as soon as the end of this week." With the commitment from the three banks and the $450 million being put up by the Ricketts, the $900 million bid would be submitted to the "court that's overseeing the bankruptcy filing of current Cubs owner Tribune Co. The court likely then would take 30 to 45 days to process the offer leaving a potential closing ready by July." However, the family "may consider lowing the $900 million offer it made in January when it won th...