2nd Cubs deal for Tribune

Apparently, the Tribune Co has agreed to terms for the sale of the Chicago Cubs to a group led by private equity investor Marc Utay, giving the company two possible offers to submit to the bankruptcy court. It is the latest twist in a long-running effort by the bankrupt media company to sell the baseball team famous for its "lovable losers" image. Several people involved said Utay's renewed interest could be a way to pressure the Ricketts family into an improved offer. On Monday, a source said Tom Ricketts and his family had agreed to terms for the purchase of the team and other assets for slightly less than the $900 million offered in January. The source called it a "handshake" agreement and not a signed document. One of the sources reporting the Utay group's deal said the new offer is "a higher price but less cash upfront" than the Ricketts' bid.