If you have several hundred million dollars to burn and always wanted to own a storied baseball franchise, you'd better get a move-on: today is the deadline for submitting bids to buy the Chicago Cubs. Major League Baseball has approved ten owner groups to bid on the team while up to twenty bids have been made on Wrigley Field alone. The Tribune Company is accepting bids on assets including the team and the stadium both separately and in package form. One source told Reuters that total sales "could fetch more than $1 billion."

"It's a great franchise," said Andrew Murstein, vice chairman of Sports Properties Acquisition Corp, which raised $215 million in January in an initial public offering. "Hopefully, people will think with their wallet and not with their heart."