The Trib’s Phil Rosenthal reports today that WGN-AM morning man Spike O’Dell has signed his last contract with the radio station.

O’Dell, the market’s top-rated morning man for nearly seven years, is only 53. But he’s saved his money and, an avid golfer, he intends to spend it on greens fees.

“Some people may think I’m nuts,” O’Dell said in an interview Thursday. “But that’s my plan and I’m sticking with it.”

O’Dell has hosted mornings on WGN since 2000, when he succeeded Bob Collins, following Collin’s death in a plane crash. Both Collins and his predecessor Wally Phillips paved the way for O’Dell. All three enjoyed long runs as the top-rated morning show in the city.

The most logical successor to O’Dell would be Steve Cochran, who currently does afternoons at WGN. While that succession isn’t a lock, it certainly looks likely.

O’Dell’s comments come at an awkward time for WGN and its parent company the Tribune. Rumors have persisted that the Tribune will be selling off many of its assets, including WGN-AM and the Chicago Cubs. Losing O’Dell can’t do much for the perceived value of your company.

Additionally, the market’s other heritage talker WLS-AM may have some turnover with its morning team, as well. Don Wade and Roma signed a new deal with the ABC-owned station in November of 2004. That deal was reported to be a 3-year deal, with an option for an additional year. With ABC’s sale of many of its radio properties to Citadel set to close later this year, is it possible that the Wades will take the opportunity to let their deal expire at the end of 2007? Some have suggested that WLS PD Kipper McGee is already testing the waters for their replacement by bringing in Jerry Agar to fill the mid-day slot and the duo of Rick & Craig doing Saturday evenings. Even shock jock Mancow Muller did some fill-in work last year, leading some to speculate that if WLS were looking for a new morning team, they wouldn’t have to look too far.

All of this bodes well for upstart WIND-AM’s fortunes. The station recently launched a new morning show with Big John Howell and Cisco Cotto. They seem to be targeting much of the same audience that Spike and Don & Roma have been splitting for years. It’s possible that Howell & Cotto will become the longest tenured talk radio morning show in very short order.