MLB Approves Cubs Sale
The major league baseball owners have unanimously approved the sale of the Cubs to the Ricketts family. According to the Sporting News article, there are still a few hoops to jump through before the Ricketts officially take over day-to-day control of the team, which should hopefully happen before the end of the month.
The franchise still has to go through a 24-hour "pre-packaged
bankruptcy," which the Tribune reports will take place next Monday or
Tuesday. When that step is finalized, the banks financing the deal will
have a "10 day cooling off period" before they have to fund the deal.
When they do take over, Ricketts and Hendry will get to have this conversation (the following brilliance is from Andy Dolan at Desipio):
Jim Hendry: Mr. Ricketts, I need to talk to you about what we’re going to do with Milton Bradley.
Tom Ricketts: Sure, I knew this was coming.
JH: We owe him $21 million the next two years, but
we have to move him. We can’t possibly try to put him back in that
clubhouse with those players. They hate him.
TR: Fine. What are we looking at in return?
JH: Honestly, not much. There are only a few teams
that have any interest at all, and they don’t want to pay much of his
salary, and they don’t want to give up any real prospects. The best we
could do would be to trade for a player with a bigger contract, like
Aaron Rowand or Chris Young, and even then we’ll have to eat some of
TR: So we’re in a position where we’re going to pay a guy to not play for us?
JH: I think we have to. It’s better to pay him to not play here, than have him here poisoning the team and not producing.
TR: So it’s your opinion, that the best solution to
this is to not try to make something that’s not working, work, but
instead to cut the cord and eat the money and bring in somebody better
equipped to do the job?
JH: Exactly. Sometimes it’s the best thing.
TR: For example, you have three years and $9 million left on your deal, right?
TR: So how about this? How about I eat that nine
million bucks, and pay you to not screw up our roster and our payroll
anymore, and bring in somebody else to do the job, instead of having
you try…again…to find somebody to bat lefthanded and not poison the
clubhouse and underperform? Because, as you read in the papers for
months, I need to decide what to do with Kenney. He thinks he’s going
to stay on to handle the Wrigley Field renovations and be your boss.
But I could bring in a baseball guy like John Schuerholz or Sandy
Alderson to be the president, and instead of having them be your boss,
they could just do your job.
JH: Uh…I guess.
TR: Great. Now why don’t you and Crane leak that
to your little toadies, Levine and Kaplan? I’ve got a completely
fucked up payroll to worry about.
Speaking of the payroll, Arizona Phil has updated the right sidebar with the latest estimates. The Cubs are on the hook for $118M in guaranteed contracts and an estimated $18 million if they auto-renew and sign all their arbitration eligible players (which they probably won't). That puts the grand total at around $136M before any dealmaking gets under way.
They are trying to bring the facility to the 20th century.
I think they know what they are doing.
With the Cubs adding Pierce Johnson to their roster and not exposing/losing him to the Rule 5 Draft keeps the trade ancestry tree alive that started in 1999 with Tom Gordon and undrafted Adam Morrissey and includes 17 players, the trade tree progressed to involve the Hee Sop Choi for Derrek Lee deal and the famous Aramis Ramirez/Kenny Lofton deal..Pierce Johnson is the compensation pick for Aramis Ramirez in 2012
the Rex brothers?
Yeah, the Rex brothers, Tyrannosaurus and Oedipus
When I first saw the Tweet, I thought there were two guys. Happy Thanksgiving gang! And TheoJed!
They can use another Brother
Cubs acquired Rex Brothers. Awesome fit for this team. Wander Cabrera going to COL.
"MLB announces #Cubs Minor League RHP Tanner Griggs receives 50-game suspension without pay after testing positive for amphetamine"
2014 12th rounder...
it's hard to know who to blame...on one hand he's a baseball player, on the other he sells cars in the offseason...either job leads to amphetamine abuse. =p
Thanks PHIL! I thought only the Cubs had control until the last day of the MLB 2015 Season.
that's awesome...makes me look forward to hearing theo talk some more about how the team needs to be creative with finances because money is tight.
See What The Cubs Are Building This Off-Season For Wrigley Plaza, Clubhouse
CUBBIES-4-EVER: It's not unusual for a PTBNL to be chosen after the Rule 5 Draft from the list of Rule 5 eligible players who were not selected. That way, a club gets a player they like (perhaps somebody like OF Jeffrey Baez) without the cumbersome Rule 5 roster restrictions that go with a Rule 5 Draft pick.
Clayton Richard is absolutely, positively NOT a free-agent. He is under club control through the 2016 season.
Haren was 4-2 with a 4.01 ERA with the Cubs. Seems like he worked out just as expected.
Did they ever say or who the PTBNL or cash decision on Rodney was or who was the PTBNL in the Austin Jackson deal was yet? Neither was worth whatever they gave up. Cahill and Richard were the only two good "deadline" deals they made. Hunter (given Lake was the odd man out by far and taking up a roster spot) and Haren weren't worth it.