Chicago Cubs Bankruptcy Looms as Way to Finish Sale by Tribune

By Greg Bensinger and Gadi Dechter

July 13 (Bloomberg) — The Chicago Cubs may become the first Major League Baseball team in 39 years to file for bankruptcy as Tribune Co. seeks to sell the franchise after months of negotiations.

Tribune sought Chapter 11 protection in December. It is contemplating a separate filing for the Cubs to expedite the team

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