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Jan 20, 2008 4:30 pm US/Central
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Tribune Co. Will Keep Cubs For Now
Sale May Not Be Completed Until Midseason Or Later
CHICAGO (AP) ―
The drawn-out process of Tribune Co. selling the Chicago Cubs may not end until midseason or later, the team's senior vice president said Sunday, in part because Wrigley Field first must be sold off.
Crane Kenney told attendees of the team's annual fan convention that new Tribune owner Sam Zell wants 94-year-old Wrigley in the hands of the Illinois Sports Facilities Authority -- the same state agency that funded stadiums for the Bears and White Sox -- before he accepts bids for the Cubs.
Kenney said such a move, which requires some political wrangling, is designed to "bind" the team's next owner to keeping the Cubs playing at Wrigley -- which also would receive maintenance and improvement funds.
"We'd like to find a new owner to play at Clark and Addison (streets) for the foreseeable future," Kenney said. Selling the team to the stadium authority "would put aside a substantial amount of money" for necessary changes at Wrigley.
Zell, who also is invested the crosstown Sox, bought the Tribune for $8.2 billion in April and closed the deal in December. Closing another deal for the Cubs, whom Zell never seemed interested in operating, also will take time.
"We want to get the stadium deal done by opening day," Kenney said. "The sale of the team would follow. I've been asked when that will occur, and it's just really hard to predict. "If I had a guess, it's not until midyear, or until the end of the season."
Some fans at the convention worried that management limbo would affect negatively the Cubs pursuit of their first World Series title in 100 seasons, or that Wrigley could be overcome by advertising signage, or be renamed by the highest corporate bidder.
Some fans were concerned about a government agency operating another ballpark when other works -- such as Chicago's public transportation -- have struggled. Kenney said folks had nothing to fear, at least, about the team's commitment to winning, noting a $91.5 million deal with ace pitcher Carlos Zambrano done in the middle of the 2007 season.
The Cubs in recent offseasons have poured their own money into reconstructing Wrigley's iconic bleachers and a new playing surface, which is scheduled to debut opening day on March 31. Kenney said the rest of Wrigley, too, needs a facelift. The changes would come in stages.
"We're very sensitive to the character and charm of the field," Kenney said. "It's the same place. Just a little better."
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(© 2008 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)