Cubs Sale Process Takes One Step Forward, Fifty Million Steps Back
It had been days since we'd heard a new reason why the Cubs-to-Ricketts deal still hasn't been closed, but then on Monday, Crain's Chicago Business ended the wait:
The Ricketts family, whose original bid was close to $900 million, now
believes the real price should be closer to $850 million, a source
said. The sides disagree over the value of the team’s multiyear
contract to broadcast games on Tribune’s WGN network.
At issue is about $40 million to $50 million — roughly 6% of the
original bid, which also includes Wrigley Field and a 25% stake in
regional cable channel Comcast Sports.
Broadcasters pay sports teams for the right to air games. The contract
between the Cubs and WGN, which was inked last fall, might have been
set too low, given that the broadcaster and the sports team have been
owned by the same parent: Tribune Co.
This latest delay comes a few days after the Ricketts family had finally cleared another hurdle on their way to the purchase, securing a $350 million loan from J. P. Morgan Chase & Co., Citigroup Corp.
and Bank of America.
Ricketts...has held separate discussions with a handful of
celebrities to raise money from them and other wealthy Cubs fans
willing to pony up as much as $25 million. In addition to (Bill) Murray, he's
met with Jim Belushi and John Cusack,
said two sources familiar with Ricketts' proposal. The meetings took
place several weeks ago, and sources were not sure if the talks had
Carrie Muskat [email protected]
Shane Victorino added to Iowa #Cubs roster today
The awesome quote was something like "Just gotta play a little country hardball..."
It was awesome. I envisioned him in snake-skin boots, Stetson, and a lump of dip in his lip with his Texas gun strapped to his hip.
Listening to an interview with Lackey on WSCR - he sounds a bit like a gruff Fozzie Bear
FWIW -- Lackey was the only RH batter to get a hit off of Scherzer. KB and Baez were 0-for-6 with 6Ks. Gotta love lefty/righty balance, and switch-hitters.
Somebody needs to explain to Richard the concept of run differential. Dammit, this was a tough one to absorb.
In the same vein, I hope we can now dispense with "LaStella sucks as a starter".
They just wanted to get Rondon a save is why they gave up those runs. Madden is a genius that way....
15 games over .500...not a bad place to be on may 6th.
Brian Schlitter moments aside - what a sweet win!
this ump...at least he seems consistently shitty.
c.richard with another outing making him look expendable...
hey may be a righty, but f.pena put in another strong night last night...2ip 0h 1bb 3k
last thing the club seems to need is another reliever, though. the cubs starters keep putting lack-of-work pressure on the pen more than anything so far.
Good thing Bryant can play multiple positions. If he was only a 3B he'd be frustrated sitting.
I think it might have been just the push he needed.
I believe +411 by the '39 Yankees is the all-time record.
From now on maybe there's no point keeping score of the game, just track the run differential.