Tribune Co. lines up second deal to sell Cubs

A second offer to purchase the Chicago Cubs has emerged.

According to a Tuesday report from the Reuters news service, Tribune Co. has agreed to terms for the sale of the team to a group led by private equity investor Marc Utay, giving the company two offers to submit to the bankruptcy court.

The other offer comes from Tom Ricketts, and is reported to be in the $900 million range. Tribune started shopping the team around more than two years ago.