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
Didn't see the game, but it sounded like the Cubs gave away 2 runs with poor fielding. Bummer.
Well, it's been a fun diet of Reds, Brewers and Braves, but now the Cubs have to play real teams in May (Pirates, Nationals, SF, Cards and Dodgers) -- hope we are all still smiling when we wake up on Memorial Day.
He does seem out of synch. His body seems to start forward, then his arms sort of try to catch up -- if that's his normal swing, he will never hit for power. It's an all-arms slasher swing, but the timing seems off.
He is currently slugging .256 -- I realize the weather has been bad, but that's epically bad. Currently 92nd out of 94 qualified NL batters. Yikes.
Weird home stand -- 3-1, with 2 rainouts, vs. two teams that will lose 100 games. Feels oddly disappointing.
Miserable baseball weather all week -- hopefully better weather will get the bats going. Not just walking, but actually hitting.
That strike call on LaSterlla was terrible
I was hearing some talk that John Mallee is trying to change Heyward's swing. Wonder if that is lending itself to the slow start.
at least it wasn't a "nobody showed up" stomping.
anytime you wanna jumpstart your season would be nice, heyward.
Now looming VERY large. Game tied.
That Braves TOOTBLAN trying to stretch a double into a triple is looming very large.
Phil, do you know if Victorino has an opt out date approaching? Thanks.
Maybe he can even fall asleep/passout at a red light. #cardinalway
hopefully he has enough time to pound 6-10 beers before the drive back home.
: / )
Yeah, there's that....
CTSteve -- have they decided to skip tomorrow's game...? (I keed)
Not a bad thing -- Bryant and Miggy are hurt, and Ross could use a day off.