Report: Bids for Cubs expected soon

Chicago -- Preliminary bids are expected within 30 days from potential purchasers of baseball's Chicago Cubs, the team's owner said.

The team is owned by the Tribune Company and its home stadium, the well-known Wrigley Field, is part of the sale.

"There has never been a better time to market the team and the ballpark," said Sam Zell, the company's CEO," Crain's Chicago Business reported Friday. "The ballpark regularly sells out."

Zell said the Tribune "continues to explore the option of selling Wrigley separately from the ball club, but not if it means "unnecessarily delaying any of our other options."

Zell made the comments to investors during a Thursday conference call .
Potential bidders should get financial information on the team's assets within a week, Crain's said.

Forbes Magazine, in its annual ranking of major league baseball teams, estimates the Cubs are worth $642 million, fifth-highest in the league.

Copyright 2008 by United Press International.