Chicago Cubs consider bankruptcy filing


As the Tribune Co. looks to sell its Chicago Cubs baseball team, with the Ricketts family looking like the most likely buyer, the company is reportedly considering putting the team into bankruptcy to speed up the process.

A Chicago Cubs bankruptcy would make it the first team to file since the Seattle Pilots in 1970; the team played one season (1969) and then filed for bankruptcy. It was then sold to future Commissioner Bud Selig who moved the team to Milwaukee and changed the name to the Brewers.