When word went out last April that the Tribune Company was selling the Chicago Cubs, potential buyers lined up eagerly, bulging checkbooks in hand for one of baseball’s most storied franchises.

Although it has been almost 100 years since the Cubs last won a World Series, their strength as a sports franchise is undeniable.  They repeatedly sell out Wrigley Field, and the team has even had some recent success on the field.  The Cubs went to the postseason this year for the first time since 2003 and have a foundation of talent that could keep them in the running in a depleted National League Central Division in the years to come. 

The Tribune bought the Cubs in 1981 for a trifling $20.5 million.  In a March 15 report, Chicago-based consultants Andersen Economic Group estimated the worth of the franchise at close to $600 million.  And that’s not including Wrigley Field—a crown jewel of baseball ballparks.

So who will win the bidding war for a chance to steer the Cubs to their first World Series win  in a century?

The Top Contenders

The Favorite
Name: John Canning
Profession: Chairman of Madison Dearborn Partners LLC, a Chicago-based private equity firm
Why he should get the team:  “I think he’s got a first-class team of people he is working with,” said Andrew Zimbalist, a professor at Smith College, in Northampton, Mass.,  who specializes in baseball economics.  “He has experience in the baseball industry with his minority ownership of the [Milwaukee] Brewers, and he is a longtime affiliate and associate of [baseball commissioner] Bud Selig.  Selig likes to have people he can depend upon, whom he knows and feels are reliable.  Canning has a sterling business background with Madison Dearborn and also ... the Chicago Fed [Federal Reserve Board].  So he’s a perfect fit and, given his relationship with Selig, I would think that he has to be viewed as the front-runner at this point.”
Why he shouldn’t:  Zimbalist said that, although Canning is the prohibitive favorite, the Cubs sale will ultimately play out in the marketplace.  If someone makes a bigger, better offer, Canning could lose out.
Odds:  9-5

The Maverick
Name:  Mark Cuban
Profession:  Billionaire owner of the Dallas Mavericks
Why he should get the team:  Cuban is just what baseball and the Cubs need right now—a smart businessman who will do whatever it takes to win.  Cuban is volatile.  He’s loud.  He’s opinionated.  But look at the Mavericks: When he purchased the team, they were the laughingstock of the NBA and now they are one of the glamour franchises and a perennial winner.  Cuban revolutionized the team’s scouting process, provided coaches and players with the latest technology, and upgraded the stadium and the roster.  Cuban may be more P.T. Barnum than Bill Gates, but you can’t argue with results.
Why he shouldn’t: “If you’re the commissioner, you don’t want somebody whose behavior you can’t predict,” said Allen Sanderson, a sports economics expert and professor at the University of Chicago.  “You don’t want someone who is not going to go along quietly with the rest of the league or the commissioner.  And that rules Cuban out immediately. It’s not just that he is a Maverick with a capital ‘M,’ he’s a maverick with a lower case ‘m.’  Baseball just wouldn’t go for that.”
Odds: 15-1

The Winner
Name:  Jerry Colangelo
Profession:  Former owner of the Phoenix Suns and Arizona Diamondbacks
Why he should get the team:  Colangelo grew up a Cubs fan in suburban Chicago Heights.  He is a four-time NBA executive of the year and a member of the basketball Hall of Fame.  He was instrumental in bringing baseball to Arizona and won the World Series in the team’s fourth year of existence.  He’s proven he knows how to win and is willing to spend money to do it.  “My preference is whoever can make them win,” said James Murphy, 28, owner of Murphy’s Bleachers Bar across the street from Wrigley Field.  “I just want someone who knows how to help the Cubs win the World Series.” 
Why he shouldn’t:  Colangelo did win in Arizona, but he plunged the team into debt by signing high-priced free agents.  His financial indiscretions would likely make him a long shot with Selig. “[Major League Baseball] is looking for somebody they feel confident has the necessary management and financial background to run the team effectively,” Zimbalist said.
Odds:  25-1

The Wolf
Name:  Don Levin
Profession: Owner of the Chicago Wolves minor league hockey franchise
Why he should get the team:  The Wolves have only been around since 1994 and have already won three championships.  Levin is a native Chicagoan and a passionate Cubs fan who has long expressed interest in purchasing a stake in the team.  He also has a great connection to his audience.  Levin has a reputation for circulating at the Allstate Arena during Wolves games and talking one-on-one to fans.  “I would love it if the owner wasn’t involved in a huge multiconglomerate like the Tribune,” said Steve Bolf, 39, a lifelong Cubs fan. “I think with the Tribune it just ended up being about the business, not about the team.  I think somebody from Chicago would understand things better.” 
Why he shouldn’t:  There is a big difference between minor league hockey and big league baseball.  “Running a professional sports team is a different animal than a typical corporation, so it tends to help if somebody has some experience in the industry,” Zimbalist said.
Odds:  100-1

Disclaimer:  Odds are pure speculation on the part of the author and are not to be used for gambling purposes.