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
First team to 60 wins! Onward to 70, 80, 90 and 100!
I. Hate. The. Mets.
OK Marlins -- take 'em down. Fernandez, at home, tomorrow for the Fish.
Gotta say, though -- as much as I can't stand them, the Cardinals have had some very impressive late-inning wins against premier closers.
Very impressive that he hit a 3-2 curve ball. Such a dynamic ballplayer. If he ever learns the strike zone....
If Jason Hammel doesn't get a potato chip sponsorship deal, somebody messed up. Attaboy, Jason!
I am looking forward to AChap facing the Cardinals.
Sure is fun to watch them score finally. To think they were no-hit until the 7th...
Got to admit it - it was comforting seeing Rondon come out for the eighth after just taking a two run lead ... And put the hammer down with a 7 pitch inning. Good stuff
GRAND SLAM RUSSELL
blown the hell open...7 run lead
11 hits off Wainwright tonight. Everything going right for the Cards right now. Motherfucking motherfuckers.
it was more no-doubt than bryant's HR. it wont make any end-of-season highlight reels, but that one was booked to leave on contact.
Javy! Javy! Javy!
How sweet was that - Cranked it!
393 happy feet
cubs take a 2 run lead in the 7th. sweet.
...and the Cards tie and take the lead in the 9th. off Familia.
Familia blows his first save of the season -- gives up 2 in 9th to the Cards.
Not much going our way these days.
no-doubt HR towering to CF...tie game.