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"Mr. Cub" Banks wants to buy team: report

Posted on: Saturday, 10 June 2006, 11:08 CDT

CHICAGO (Reuters) - "Mr. Cub" wants to be "Mr. Cubs Owner."

Ernie Banks, who had a Hall of Fame career with the Cubs from 1953 to 1971, told Tribune Co. chief executive Dennis FitzSimons last month he would like to buy the team, Crain's Chicago Business reported on its Web site.

The report of Banks' interest comes as the Tribune Co. is facing pressure from some investors to sell the baseball team and its broadcast division, which includes superstation WGN-TV.

The company has said the team is not for sale although it has begun selling other assets, including WATL television station in Atlanta.

Banks's No. 14 was retired by the Cubs and he is one of the most recognized sports figures in Chicago. He said he had been approached by two groups about joining a bid for the ballclub, Crain's reported.

Those groups are Giuliani Partners LLC, headed by former New York Mayor Rudolph Giuliani, and Los Angeles-based buyout firm Comstock Capital Partners LLC, Crain's said.

Banks, 75, said discussions didn't cover what, if any, financial backing he would provide or what stake he would have in the team, Crain's reported.

Spokespeople for the Tribune Co. and the Cubs could not be reached for comment by Reuters. An attempt to reach Banks through the Cubs was also unsuccessful.

Tribune shares closed at $31.96 on Friday on the New York Stock Exchange, up 1.2 percent for the day.

Source: REUTERS

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