Thursday, January 15, 2009

Later and Later and Later...

We're way beyond overtime. Sudden death is in a rear view mirror. The shoot out went through every player. Hell, even Herb Brooks back in Oslo would have given up by now. But, "Denny" Crane Kenny says that the sale of the Cubs should be complete by Opening Day. To be clear, he means 2009:

"I think if we could get some assistance with the commissioner, there's a vetting with the ownership committee, and then there would be a full vetting with the ownership groups," Kenney said as he arrived for a meeting of major league owners at a mountainside resort. "But I think everyone wants this thing to come to a conclusion, including the commissioner. So if we can get a little assistance there, we can maybe get there by April."

As always, there's a subtle little nugget buried in the article:

(I)t's not clear whether Tribune's more than 1,000 creditors would agree to leave such a prized asset outside the bankruptcy court's control.

Kenney said he hopes the sale won't be tied up in court.

"We've had such an open process," Kenney said. "It's been so long in the making, with originally 10 bidders. I don't know the courts, especially in this economy, will think they need to do sort of a market check to see if there is a higher bid than the one that results from the Tribune process."

In other words, there are over 1,000 parties that need the Tribune to maximize the proceeds from the sale. And that means that a party outside the "Final Three" could still parachute in at the 11th hour with a higher bid.

Wouldn't it be fun if that bidder was unacceptable to Bud Selig but very acceptable to a judge and 1,000 creditors?

With the Cubs season really not starting until October (the 162 game schedule is a dismal failure without a playoff appearance), this could be the best sport the Cubs provide all summer.

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