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Cubs file for bankruptcy, part of sale to new owner

October 13, 2009|Wire Reports

The Chicago Cubs filed for Chapter 11 bankruptcy protection Monday, a step that will allow their owner to sell the baseball team in an $845-million deal.

The filing in Wilmington, Del., was anticipated and is expected to lead to a brief stay in Chapter 11 for the Cubs. A hearing was scheduled for today in front of the judge who has been handling the bankruptcy of the Cubs' owner, Tribune Co.

The Cubs' filing is part of Tribune Co.'s plans to sell the team, Wrigley Field and related properties to the family of billionaire Joe Ricketts, the founder of Omaha-based TD Ameritrade.

Tribune, which also owns The Times, filed for bankruptcy protection in December, but the Cubs were not covered in the filing. The team's run through Chapter 11 could last mere days, enough to protect its new owners from potential claims by Tribune creditors, said Ira Herman, a bankruptcy attorney with Thompson & Knight.



Heat signs Arroyo to deal

The Miami Heat signed Carlos Arroyo to a one-year contract, which will be worth about $1.1 million if the 30-year-old point guard remains with the club all season.

Arroyo last played in the NBA for the Orlando Magic during the 2007-08 season, spending last season in Israel.



Mine That Bird will stay put

Kentucky Derby winner Mine That Bird will remain at Santa Anita and point to the Breeders' Cup Classic on Nov. 7.

Trainer Chip Woolley Jr. said he and the gelding's owners were disappointed with Mine That Bird's sixth-place finish in the Goodwood Stakes on Saturday. But they've decided to try the $5-million Classic, and Calvin Borel will remain as Mine That Bird's rider.

Woolley said Mine That Bird jogged a mile Monday and will have two or three breezes before the 1 1/4 -mile Classic.



Mirza upsets Peer in Japan Open

Fifth-seeded Shahar Peer of Israel was upset, 3-6, 6-3, 6-4, by Sania Mirza of India in the first round of the Japan Women's Open at Osaka.

Fourth-seeded Francesca Schiavone of Italy beat Anne Kremer of Luxembourg, 7-5, 6-2. Schiavone had five aces against the unseeded Kremer at Ustubo Tennis Center.

Seventh-seeded Melinda Czink of Hungary beat Ryoko Fuda of Japan, 6-4, 6-4, and Maria Kirilenko of Russia retired because of a sore left knee after losing the first set to Viktoriya Kutuzova of Ukraine, 6-2.

Fourth-seeded Carla Suarez Navarro eased past Katarina Srebotnik of Slovenia, 6-2, 6-4, in the first round of the Generali Ladies at Linz, Austria.

The 34th-ranked Spaniard had three breaks in the opening set and added four more in the second at the indoor Intersport Arena.

Urszula Radwanska of Poland saved two set points in the opening set before defeating Yvonne Meusburger of Austria, 7-6 (6), 6-1.

Earlier Monday, Petra Kvitova of the Czech Republic defeated Andrea Petkovic of Germany, 6-1, 6-4.

Kvitova broke Petkovic three times in the opening set and converted her first match point.

Ioana Raluca Olaru of Romania also advanced after stopping Lucie Hradecka of the Czech Republic, 6-2, 2-6, 6-1.



Sabres' Sekera is sidelined

Buffalo Sabres defenseman Andrej Sekera will miss at least two weeks because of a rib injury, while Toni Lydman is ready to return after missing Buffalo's first three games because of a hand injury.

Coach Lindy Ruff declined to reveal the exact nature of the injury to Sekera, who was hurt in the second period of a 1-0 win at Nashville on Saturday.

A third-year player, Sekera had no points in three games this season.



Jansen, 89, beat Dodgers in '51

Larry Jansen, the winning pitcher for the New York Giants in the 1951 playoff game decided by Bobby Thomson's "Shot Heard 'Round the World," has died. He was 89.

The San Francisco Giants said Jansen died at his home in Verboort, Ore., on Saturday.

Jansen, in relief of Sal Maglie, struck out two batters in the top of the ninth before the Giants rallied with four runs in the bottom half of the inning to beat the Brooklyn Dodgers, 5-4, in the third and deciding playoff game.

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