Angelos and car dealer named Selig entered baseball via bankruptcy--NY Times

Noting the Chicago Cubs and Wrigley Field are not part of the bankruptcy filing, NYTimes' Richard Sandomir recalls both Peter Angelos and a car dealer named Selig acquired teams out of bankruptcy:

• "Baseball teams have dealt with bankruptcy before. The Baltimore Orioles were sold to Peter Angelos out of Eli Jacobs’s bankruptcy in 1993.

• A car dealer named Bud Selig acquired the Seattle Pilots out of bankruptcy in 1970 and moved them to Milwaukee."...

Sandomir on the 3 likely Cubs bidders:

• "The fight is apparently between three bidders who have made qualifying offers:

¶Thomas Ricketts, a Chicago bond underwriter who is part of the founding family of TD Ameritrade and used to live in an apartment across the street from Wrigley.

¶Hersch Klaff, a Chicago real estate magnate.

¶The team of Marc Utay, a managing partner of Clarion Capital, a New York investment firm; and Leo J. Hindery Jr., the former chief executive of the YES Network, who runs InterMedia Partners, a media equity fund."...

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