The Ricketts Receive Unanimous Approval From MLB

David Kaplan on 10.06.09

The Ricketts family was approved this afternoon in a unanimous vote by the 29 other owners of Major League Baseball franchises. The vote took place via a conference call with Commissioner Bud Selig and went as expected.

The next step will be for the franchise to go through a pre-packaged bankruptcy which will take place next Monday or Tuesday for a period of 24 hours. When that step is finalized the banks who are financing the deal will have a 10 day cooling off period before they have to fund the transaction.

So look for the sale to close on or around the 29th or 30th of October. More to come.

http://www.chicagonow.com



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