Zell fast-tracks sale of Cubs

November 17, 2008 2:10:58 PM PST
Tribune Company CEO Sam Zell is reportedly wants the Cubs to be sold by the end of the year. Zell wants to sell all but a small stake in the ball team.

He expects to select a finalist from the five remaining bidders and then submit the deal to Major League Baseball for approval in December.

It is not clear if Zell still expects to get a bid of as much as $1 billion.

The final offers to buy the Cubs are due by November 26th.