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Cubs Sale Turns Ricketts-y?

By Matt Motyka in News on May 29, 2009 5:40PM


Photo illustration by Matt Motyka

Sam Zell cast the first official shadow of a doubt on the Ricketts’ purchase of the Chicago Cubs Thursday, according to a Tribune report. All talk of the sale had been puppy dogs and sunshine until yesterday, when Zell—commenting on Ricketts’ struggles to obtain financing—said in an interview with Bloomberg Television, “So if the Ricketts deal doesn't get done, I'm sure there will be other ones.”

The deal was expected to be done by mid-May, but on the precipice of June, the sale remains incomplete. Previous reports indicated that the Ricketts family has lined-up financing from JPMorgan Chase, Citigroup and Bank of America, and is even attempting to close the monetary gap by enlisting the help of local celebrities. At the moment there are no signs that any of the loans have fallen through, only that the current economic climate has made it more difficult to work out the details. In fact, Crain's Chicago Business is now reporting that the deal is inching toward completion. The Ricketts have declined to comment on Zell’s possible pressure tactics.