CHICAGO (WBBM) -- Reuters is now reporting that 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 offers to submit to the bankruptcy court according to sources familiar with the sale process.
On Monday we reported that the Ricketts family had agreed to the purchasing terms for just under the $900 million it offered in January.
Reuters is reporting that sources say the Utay group's deal offers "a higher price but less cash upfront" than the Ricketts bid.
Stay tuned to Newsradio 780 for more information as this story develops.
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