The Tribune Co. said on Thursday that it's still working toward selling the Chicago Cubs to the family of TD Ameritrade founder Joe Ricketts, but that it's also "assessing other alternatives."
"We continue an active dialogue with the Ricketts family with an eye toward reaching a definitive agreement," the company said in a statement. "In addition, we are assessing other alternatives."
In January, Tribune picked as lead bidders the Ricketts family, which founded Omaha, Neb.-based brokerage that became TD Ameritrade. The effort has been led by Joe Ricketts' son Tom of Chicago, a Cubs fan who used to live across the street from Wrigley Field and who met his wife in the park's bleachers.
The offer was described at the time as $900 million for the team, Wrigley Field, and a 25 percent interest in a regional sports network.
Ricketts spokesman Dennis Culloton said "things have been moving along very positively in those negotiations."
The Ricketts family is "eager to bring this transaction to a close, and in fact feel that most of the pieces are in place," he said.
One of the other potential bidders is Marc Utay of Clarion Capital.
"I'll tell you what I've told everyone," Utay said. "If and when I actually re-engage, I'm not going to tell anybody anything."
Tribune bought the Cubs from Wm. Wrigley Jr. Co. for $20.5 million in June 1981. Tribune put the team on the market on opening day 2007, when real estate mogul Sam Zell agreed to buy the corporation.
Tribune is operating under bankruptcy protection, although the filing did not include the Cubs or Wrigley Field. Still, a sale will likely have to be approved by the creditors' committee and bankruptcy judge.
Baseball owners would also have to approve.
(This version CORRECTS Ricketts is from Chicago).)
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