Monday, October 12, 2009

First Metaphorically, Now Literally

The Chicago Cubs are bankrupt:

The team filed for bankruptcy in Delaware on Monday. The move was anticipated as the Tribune Co. looks to complete an $845 million sale of the team, Wrigley Field and related properties to the family of billionaire Joe Ricketts.

The purpose of this is to legally release the Cubs from financial obligations that are tied to their corporate parent, the Tribune Corporation. Things that will be released are financial guarantees and any other contracts that need to be dissolved.

If the judge is a Cub fan, perhaps he could negate three other contracts? I'm thinking of the ones with the names "SORIANO," "BRADLEY," and "HENDRY" on them.

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