Bidding for Cubs proceeds

NEW YORK -- Tribune Co. is inviting at least three potential buyers who submitted bids for the Chicago Cubs and Wrigley Field near or above $1 billion to participate in a second round of proposals, according to a person involved in the process.

Several bidders offering between $700 million and $900 million for all the properties have been excluded from the second round, according to the person, who spoke on condition of anonymity because of nondisclosure agreements governing all talk about the bids.

Included in the second round are Internet billionaire and Dallas Mavericks owner Mark Cuban; the Ricketts family, which founded the brokerage that is now TD Ameritrade Holding Corp.; and a group led by Sports Acquisition Holding Corp. that includes Hank Aaron and former U.S. Rep. Jack Kemp. The last group is believed to be teaming with another bidder.