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July 13, 2009 11:28 AM

Cubs Headed for Bankruptcy?

(AP Photo/Nam Y. Huh)
The Chicago Cubs organization is considering filing for bankruptcy in a move that could expedite its sale, according to a Bloomberg report Monday.

The Tribune Co., the team's owner, filed for bankruptcy protection in December. A filing by the Cubs would be separate from its parent company and could insulate the team from the Tribune's creditors, four sources told Bloomberg.

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Tags:
chicago cubs ,
tribune co. ,
bankruptcy ,
chapter 11 ,
sam zell ,
tom ricketts
Topics:
Chicago Cubs

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