Thursday, January 17, 2008
No formal timetable set for sale of Cubs, MLB's DuPuy says
SCOTTSDALE, Ariz. -- The sale of the Chicago Cubs does not appear to be imminent.
Prospective buyers have been submitting to background checks,
but Major League Baseball's ownership committee has not been given
a formal financial offer to review.
"There is no formal timetable for a sale," Bob DuPuy,
baseball's chief operating officer, said during a two-day owners'
meeting that ended Thursday.
Tribune Co. said last month it anticipated closing on the Cubs
sale by mid-2008. Analysts have said the Cubs could fetch as much
as $1 billion if packaged with Wrigley Field.
DuPuy also briefed owners on the status of a proposed stadium
for the Florida Marlins.
Miami-Dade County commissioners last month approved a public
works project that includes a new 37,000-seat retractable-roof
stadium. The ballpark would be built on the site of the Orange Bowl
as part of an agreement that would include a performing arts
center, port tunnel project and soccer stadium.
Meanwhile, commissioner Bud Selig created a committee, to be
chaired by Atlanta president John Schuerholz, to look at possible
changes in the amateur draft.
Also Thursday, owners approved a series of minor rules changes
involving player movement.
In a new exception to Major League Rule 16, a player may be
added to a major league roster after Aug. 1 if he is reinstated
from a suspension for violating baseball's drug policy, according
to Joe Garagiola Jr., baseball's senior vice president for baseball
operations. The existing exception allows players who have been on
the bereavement list to rejoin their clubs after Aug. 1.