Cubs farm team in financial trouble

The Peoria Chiefs are in some financial trouble, and the Chicago Cubs may not be able to bail them out.

The Chiefs have been losing thousands of dollars in recent years. And the losses are causing many to question if the team will be able to continue.

According to the Journal-Star in Peoria, the team has lost $848,000 in 2010, and lost $678,000 in 2009. In both 2007 and 2008, the losses were more than $400,000.

The team’s finances came to light after an audit was done with the Peoria County Supervisor of Assessment’s Office after the Chiefs’ tried to appeal a taxable value on its stadium.

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