I'm just an average die hard fan and haven't closely followed the proceedings in the Tribune Company's bankruptcy. From what I've gathered from reading some of the posts here, am I correct that the bid made by Rickett's will first have to be gone over by the Trib, their creditors and the bankruptcy court before the sale can be approved and only then be submitted to major League Baseball for approval by the owners ?  If all this is true, what time frame are we looking at before Ricketts can make some decisions as to payroll, player acquisitions, etc ?

I'm hoping that people more familiar with this type of thing can give us an educated estimate.

thanks !