Zell: Tribune likely to retain minority interest in Cubs

June 4, 2008 9:46:32 AM PDT
Tribune Company chairman Sam Zell says the media giant will likely retain some interest in the Chicago Cubs after selling the ballclub. Zell first stated his intentions to sell the Cubs and Wrigley Field more than a year ago as part of his agreement to take control of Tribune.

While visiting a Tribune property in Denver this week, Zell said Tribune will "in all likelihood" keep some kind of minority interest in the Cubs.

He didn't specify what percentage interest Tribune might keep, but made clear his interest in letting a new owner take control and said the Cubs belong in entrepreneurial hands.

Zell says nine potential buyers have been preapproved by Major League Baseball and are awaiting release of the team's financial data, which should be sent out soon.