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.

Separately, in a report that will cheer the hearts of everyone who loves Caddyshack, Taking Care of Business, or Say Anything, Tuesday's Chicago Tribune reports...

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



Well that's great news.

sounds like ricketts is lowering the offer in order to have cash to give hendry for the balance of jake peavy's contract.

i hope.

Please let this be a bad dream that there is any possibility that Jim Belushi can strut around Wrigley Field and say that he owns part of the team.

Well, according to Jim, this would be a dream come true. In fact, he feels like Mr. Destiny. He'd be happy to be just one of the gang - related, not by blood, but by a passion for the Cubs. He once said, "Every year the season ends, but every spring the Cubs return to me".

...Curly Sue.

Fired for not working in a Red Heat reference.

I tried. It felt forced. Ok it was all forced, but still.

Recent comments

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  • KB 0-5 with 8 LOB. Really? He is torturing me with 99 RBI. He is also a very different hitter at home vs. road. I suspect most young hitters are.

  • Greinke still in for the 8th. 3 up, 3 down. After 8. 108 pitches, ERA still at 1.66 according to mlb boxscore and he's in line for a 19th win.

  • Greinke 95 pitches through 7. Gives up one run (solo HR to Hedges). ERA at 1.66. Doubt that they will let him give up 5 runs in the 8th.

    Dodgers ahead 2-1.

  • 96 wins with one game to go. Who woulda thunk it.

    Cubs 96 wins have clinched a better record than any AL team and the NL West/East division winners too.

  • cubs win, pirates lose...

  • the curse is now yours.

  • cog a HR away from the cycle after a single in the 6th.

  • Hendricks: 15 up, 15 down.

  • he strongly separates his post-playing career from his playing career, though he loves to visit the barrier of player and fan. many ex-players don't put up this barrier.

    he's not interested in going back to the clubhouse or pretty much anything field/game related, but he'll grab a ticket and observe with the fans and visit ex players on "neutral" ground. he's written 3 pieces for the new yorker and other pieces elsewhere. i remember one photo/bio piece he did, but don't remember where i read it (years ago).

  • ?
    I find your comments rather obtuse. He recognized he didn't want to pursue baseball anymore and went back to school to learn how to become a better writer - opening up a new chapter in his life.

    I don't know where you find a "sad disconnection" because he is writing about his experiences? He pursued a ball career for a long time so no doubt there is some meloncholy in his tone, but I just don't know what the fuck you are talking about.

  • he has an almost sad disconnection from the game based on his writings. even though he's "been there" (no matter how much of a minor role) he doesn't seem to feel like he belongs or deserves to belong in the boy's club.

    he seems to go to great lengths to enjoy the game from an arm's length while occasionally getting close enough for a high-5 from those who affirm him that he belongs.

  • I read that guy's article about why he quit baseball and it was really well done too. In terms of Rizzo, I have seen multiple references to how this is Rizzo's team just as much as Madden's and it makes that pick up that much better that we have someone that is not only a great player but a leader and all around great guy (been reading about all the charity work he does too). There is really nothing not to like about Rizzo.

  • Nice article on Rizzo

    Written by ex teammate

  • JD concurred with Ariettas second at bat

  • Hey AZ, Chesny Young made raised some eyebrows with his minor league season. What do you think of him?

  • AZ Phil, why are Beeler and Parker in Mesa? Are they still recovering from injury?