Major League Baseball has approved the sale of the Chicago Cubs to the Ricketts family in a unanimous vote this afternoon.
MLB Approves Sale of Chicago Cubs to Ricketts Family
The vote took place via a conference call with Commissioner Bud Selig and went as expected.
The next step will be for the franchise to go through a pre-ordained bankruptcy proceeding that will take place next Monday or Tuesday for a period of 24 hours. When that step is finalized, the banks who are financing the deal will have a 10-day cooling off period before they have to fund the transaction.
Check back for more as this story develops, both in this stream and at SB Nation's Bleed Cubbie Blue.
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