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NEW YORK – The owner of the Chicago Cubs is willing to sell a smaller share of the baseball team than initially planned because the credit crunch has made it tougher for potential buyers to obtain loans, a person familiar with the talks said Friday.
Tribune Co. was looking to sell a 95 percent share of the Cubs and other sports properties for more than $1 billion.
The Wall Street Journal reported Friday that Tribune is willing to take bids for a 50 percent or smaller share. The amount a bidder must borrow to finance such a deal would decline accordingly, and the Journal said Tribune could sell additional stakes in the properties over time.
The paper did not name its sources.
Tribune spokesman Gary Weitman declined to comment.
Three players associated with the Fort Wayne TinCaps picked up Topps Player of the Year honors. Kyle Blanks, who played in Fort Wayne when the team was called the Wizards, received the honor in the Double-A Texas League. He played for San Antonio in 2008. Dan Robertson and Jaff Decker, who will potentially play for the TinCaps in the future, were named in the Northwest League (Robertson) and Arizona League (Decker).
The Boilermakers play Northern State at 7 p.m. today in Mackey Arena, the last tuneup before regular-season plays begins Nov. 14. Northern State, a Division II school in South Dakota, could give the Boilermakers a chance to play against some big men. Northern State has two players at least 6-foot-10, 200 pounds.
Notre Dame junior forward Luke Harangody and Purdue sophomore forward Robbie Hummel were both named to the Wooden Award preseason watch list.
Scott Verplank shot his second straight 8-under 64 at Lake Buena Vista, Fla., to take a three-stroke lead in the Children’s Miracle Network Classic at Disney, the final official PGA Tour event of the season. … Japan’s Mayu Hattori and Miki Saiki shot 5-under 67s to share the Mizuno Classic lead at Shima, Japan, leaving Women’s British Open champion Shin Ji-yai a stroke back in the event sanctioned by the LPGA Tour and Japan LPGA. … Heavy rain wiped out play in the HSBC Champions at Shanghai, China, forcing organizers to find a way to squeeze in 54 holes over today and Sunday. … Darron Stiles made a tap-in eagle on the final hole for a 4-under 67 for an 11-under 141 total and a share of the second-round lead with Garrett Osborn in the season-ending Nationwide Tour Championship at McKinney, Texas.
Upward basketball and cheerleading registrations are from 9 a.m. to noon today at Avalon Missionary Church, 1500 Lower Huntington Road. Call 747-1531.
