IU grad Cuban applies to buy Chicago Cubs

Mark Cuban, the Indiana University business major who went on to become a billionaire and buy the Dallas Mavericks basketball team, has applied to Major League Baseball as a next step in his interest in buying the Chicago Cubs, according to the Dallas Morning News.

Several other people, including John Canning, who runs a Chicago private equity firm, reportedly are interested in buying the much-loved but usually hapless team from Chicago-based Tribune Co.