YOU ARE HERE: LAT HomeCollections


Tribune reaches deal to sell Chicago Cubs

The Ricketts family reportedly would pay about $900 million for the baseball team and other assets.

July 07, 2009|Staff And Wire Reports

Tribune Co. intends to sell the Chicago Cubs to the Ricketts family, sources familiar with the matter told the Chicago Tribune on Monday, ending the company's flirtation with another buyer after negotiations with the Rickettses had stalled two months ago.

After more than five months of negotiations, Tribune Co. has a written agreement to sell the baseball team and other assets to the Ricketts family for about $900 million. The two sides reached a deal over the weekend and forwarded an outline of their transaction to Major League Baseball for its initial comments, according to sources who declined to be identified because an agreement has not been announced.

A Tribune spokesman said, "We continue an active dialogue with the Ricketts family with an eye toward reaching a definitive agreement. We don't intend to comment on the specifics of any potential transaction."

A spokesman for the Ricketts family did not immediately return a phone call for comment. The family's pursuit of the Cubs has been led by Tom Ricketts, an investment banker.

Completion of a transaction with the Rickettses is still several weeks away. The agreement, in addition to receiving MLB approval, has to be vetted by Tribune Co.'s creditors. The company, which also owns the Los Angeles Times, filed for Chapter 11 bankruptcy in December.

The San Francisco Giants have put left-hander Randy Johnson on the 15-day disabled list because of a strained shoulder. The 45-year-old Johnson (8-6) underwent an MRI exam that revealed the strain. . . . The San Diego Padres put infielder David Eckstein on the 15-day disabled list because of a hamstring injury.



Kidd, Mavericks agree to contract

Free-agent point guard Jason Kidd has agreed to sign a three-year contract for more than $25 million to remain with the Dallas Mavericks, owner Mark Cuban said in an e-mail. The New York Knicks were among Kidd's suitors.

With the contract, the 36-year-old Kidd could end his career in Dallas, which is where he started in 1994.



Roddick out of Davis Cup round

Wimbledon runner-up Andy Roddick withdrew from the U.S. Davis Cup team's quarterfinal at Croatia, citing a right hip flexor injury.

The U.S. Tennis Assn. announced that Roddick wouldn't participate in this week's matches because he was hurt during his loss a day earlier to Roger Federer at the All England Club.



LPGA players want change

A meeting last week of more than a dozen players has resulted in a letter sent to the LPGA Tour's board urging that Commissioner Carolyn Bivens resign, according to a published report.

Golfweek Magazine reported that key players stated in the letter the LPGA Tour's woes cannot be blamed on a poor economy, and they said the tour should find a new leader to rebuild relationships with longtime sponsors.

The magazine cited a player who had received a copy of the letter.

LPGA Tour spokesman David Higdon said Bivens would not be available to comment.

Six weeks after Phil Mickelson announced his wife had breast cancer, his mother was diagnosed with the disease and is to have surgery this week.

The San Diego Union-Tribune reported on its website that Mary Mickelson discovered she had breast cancer last week.



Trial date is set for ex-coach Otis

A Los Angeles County Superior Court judge set a Sept. 2 trial date for former Compton Dominguez High boys' basketball coach Russell Otis, who faces criminal counts of commercial burglary and making unwanted sexual advances on a former player.

Otis pleaded not guilty to the charges Monday, and his attorney said he plans to file a motion to dismiss this month.

-- Lance Pugmire

The Ducks signed defenseman Brian Salcido, 24, to a one-year contract said to be worth $550,000. The Hermosa Beach native made his NHL debut last season, appearing in two games and collecting one assist. Salcido was selected by Anaheim in the fifth round (141st overall) of the 2005 NHL draft.

The inaugural Lakers three-on-three basketball tournament will be held Aug. 14-16 on about 70 outdoor courts at and around L.A. Live. There will be multiple divisions based on skill, gender and age. To register, go to

Hall of Fame offensive lineman Lou Creekmur, who starred on the Detroit Lions' three NFL championship teams of the 1950s, died Sunday. He was 82.

The Lions said Creekmur, in failing health in recent years, died at University Hospital in Tamarac, Fla.

Los Angeles Times Articles