Monday, July 13, 2009

Are the Cubs considering bankruptcy?

By all appearances, the Chicago Cubs look like a money machine, from the ticket and concession prices at numerous sold-out games to the vast national merchandising reach evidenced at every road game. So, why would they file for bankruptcy protection, as published reports from Bloomberg News in the Tribune and elsewhere suggest?

Is it to get away from those huge liabilities--you know, the massive contracts being paid to under-performing players like Milton Bradley, Kosuke Fukudome and Alfonso Soriano? If only...

Actually, the reports suggest that getting some protection from creditors will make the still-pending Cubs sale easier to close. Still, it would be another embarrassment for a team with plenty of them.

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