There is some new news to blog about considering the sale of the Chicago Cubs. The Tribune Company has said that the finaly four bidders have to have their bids in during the week of December 1st. The company then would look over the bids and move forward as they hope to have the team sold to the new owners before the start of next season.

Analysts have said the team, its storied home ballpark Wrigley Field and a stake in a regional sports television network could attract bids topping $1 billion. There is some talk right now that the Tribune could possibly still hold a 50% ownership in the team if the bids come in lower then expected due to the economy.

A source close to the bidding process who asked not to be identified said they are Jim Crane, the former chief executive of freight-forwarding company EGL Inc; Tom Ricketts, chief executive of Chicago investment bank Incapital LLC and the son of the founder of TD Ameritrade Holding Corp; Marc Utay, a managing partner with New York-based private equity firm Clarion Capital Partners LLC; and Chicago real estate executive Hersh Klaff.

Internet billionaire Mark Cuban, who was charged by federal regulators on Monday with insider trading, has not been part of the bidding for months, another source close to the process said.