Bidders for Chicago Cubs reduced to 5, Sun-Times

(Chicago Sun-Times): "The five finalists in the billion-dollar derby for the Chicago Cubs include two locally based groups and three from out of town, all with deep pockets and with different ideas for minimizing the deal’s tax impact on team owner Tribune Co.

• Sources said the local bids come from Thomas Ricketts, president of corporate bond dealer Incapital LLC, whose father founded the TD Ameritrade brokerage, and a group led by real estate investor Hersch Klaff. He’s known for buying distressed properties, often from failing retailers."

Report by David Roeder, Chicago Sun-Times

• UPDATE: 7/25/08, Reuters: "Real estate executive Hersch Klaff and media investor
• Leo Hindery are among the five groups Tribune Co approved to continue bidding on the Chicago Cubs baseball team, sources briefed on the matter said."...

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