Today, the Chicago Cubs filed for bankruptcy, even though the Chicago Cubs are in no financial trouble whatsoever. This is allowed because Sam Zell and the Tribune Company, who used to own the Cubs, are bankrupt. The Cubs have one of the few fan bases in the world that will show up to root for a losing team and not think twice about it. The Cubs will be just fine, financially.
The Cubs Are Bankrupt, Sort of (OK, Not at All)
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