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The LinkUp Blog The Industry's Best-Kept Secret

August 26, 2008 / Toby Dayton

Career Homerun Champ Hank Aaron Might Save The Tribune Company…

The most recent news surrounding the Cubs is that Hank Aaron, major league baseball’s record holder for career homeruns (Bonds has no business claiming this feat), is leading a group to buy the Cubs. Aaron serves on the board of the Sports Properties Acquisition Corporation (SPAC) which went public in January for the sole purpose of acquiring a sports franchise. While the company only raised $252 million, far short of the $1+ billion Tribune/Cubs owner Sam Zell is expecting, recent people joining the effort bring vastly deeper pockets to the table. Zell’s going to need all the cash he can get to unload a chunk of the debt that’s sinking his efforts to save his dying newspaper company.