Cubs payroll set?

Many outlets are talking about the Cubs as if they can’t spend money unitl the ownership situation is decided. One competing owner even speculated that the Cubs could cut payroll. However, Crane Kenney tells the Tribune  that the team should be sold by spring training and the budget has been approved for 2009.

Kenney said all the bidders are aware of what the Cubs payroll is projected to be in 2009. Kenney wouldn’t say, but sources indicated it will probably be between $140-$145 million.

“It leaves us enough room to address the issues we have to address and actually improve a 97-win club,” he said. “If we wanted to deviate from the plan and take a shot at something completely different, I don’t know if that happens in time [for the sale]. We won’t have a transaction closed in time to do that.”

Gordon Wittenmyerof the Sun-Times also adds the Cubs should have room to acquire both the left-handed bat they need and Jake Peavy. One club source thinks it’s a done deal. JIm Hendry and Padres GM Kevin Towers are to resume talks Sunday.

Hendry, who is said to be drawing up offseason transaction scenarios even more creative than usual for him, might still have to move salary to make Peavy and his $11 million salary next season fit the Cubs’ plans while leaving room to add at least one significant hitter.

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