Movement In Cubs' Sale Process...Sort Of

As reported by Phil Rosenthal in Friday's Tribune:

(Tribune Company Chairman and Chief Executive Sam) Zell said in a conference call with creditors
Thursday he now expects the confidential Cubs figures to be released to
potential buyers in the next 10 days or so and a sale to be completed
"sometime this year," regardless of what happens in ongoing
negotiations with the state over Wrigley, or whatever the park winds up
being called.

"You
ought to read the latest newspaper because it's all out there," Zell
said, noting there continues to be "steady progress" in talks for a
ballpark deal. "We're trying to do what is the optimum transaction with
the Illinois Sports Authority while simultaneously running with a book
on the Cubs going both ways, with or without the sports authority."


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Comments

My guess... Wrigley + Ball club = sells for $1.13 bn

Personally, I hope one owner buys the club & ball park together.

I tried to send to that address, but it was returned as undeliverable.

Thanks for sharing though. I wanted to express my opinions to them since they took the liberty to digress from comments on a few idiots that night to giving the middle finger to all Cub fans with their idiotic generalizations. Reminds me of the Elia episode without the fireworks.

I hope so, too, but it would surprise me if Zell and the state don't reach a deal. I'm thinking this business of 'we'll complete the sale with or without the Stadium Authority' is just Zell trying to give himself some leverage and get the state to move. Maybe the fact that the Governor is well on his way to indictment is distracting the money boys in Springfield.

Good point Cubnut. Blagojevich's troubles could be a big factor.

Still, Zell pitting the state against prospective owners in hopes of driving up the price of the ballpark is perfectly Zellish. It makes sense that he would give the eventual owner a chance to top the state's best offer for the park.

I think you'll see much more talk about the sale because Zell is stepping away from his breaking apart of the Cubs and Wrigley. Why would a new owner not want to own the park as well? It doesn't make business sense for the new owner not to have the oppertunity to buy the park with the team.

Zell called out the state, the state worked slowly, and Zell is trying to get leverage, but from here on out, the Stadium Authority is a done dog in this sale. The state has way too many other things going on, so Zell is stuck taking what he can get with the Cubs & Wrigley package....poor baby.

Sorry Mike. A buddy of mine, who is a Reds fan, sent me that email address this morning.

I'll see what I can drum up.

That's cool. Thanks.

I'm over it anyway...Cubs win today! My weekend is off to a good start.

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