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
8 more wins, please.
4 more wins please.
Woo Woo! Woo Woo!
YEAH YEAH YEAH YEAH W
Ha. Saw that. Pretty close.
So supposedly Schwarber was just the 1st Cubs player to hit a ball into Lake Michagan
Pretty good pitch by Cahill that Cruz hit, though throwing a breaking ball in the dirt seems like a better option in retrospect.
Cubs need to keep the foot on the gas at the plate. 4 runs won't be enough.
Hey, Johann, don't blame yourself. It's obviously me. He hates bro-- wait, nothing, nevermind.
HAHAHA this is gold.
You have joined room: TCR_Parachat
Welcome to our live chat room!
johann: hey is there a game going on?
Mornington_Crescent has left.
johann: he hates carlos and I both!
I was at the bank drive through during that strike out and yelled so loud I think I scared multiple people in other cars
bullpen vs 5 innings (6 if you count the 4th)...that should make for an eventful rest of the game.