Non-Sale-of-Cubs Stories Rapidly Gaining on Non-Acquisition-of-Brian-Roberts Stories
With all of the excitement—and by excitment, I mean disgust—over the likely Cubs signing of Jim Edmonds, there wasn't an opening here yesterday to note the snag in efforts to peddle Wrigley Field to the Illinois Sports Facilities Authority.
The Sun-Times reported Tuesday morning that the state agency and Tribune Company owner Sam Zell had failed to reach an agreement because the state's offer relied...
...on a novel and untested financing plan: the sale of
individual seats at Wrigley as if they were condominiums. The idea is
called equity seat rights and has been advanced by Chicago area
business executive Lou Weisbach, who has applied for patent rights on
Zell, Cubs Chairman Crane Kenney and their advisers have concluded
that the equity plan and its tax ramifications would violate both the
Internal Revenue Service code and the rules of Major League Baseball...sources said.
Very late Tuesday night, however, the Tribune reported that the ISFA and Zell will continue their negotiations and that "sources said...the media conglomerate is privately
indicating it might hold off selling the ballclub if the inevitable
need for costly repairs at the antiquated ballpark significantly
discounts the bids it fields for the team."
Tribune Company is due to begin paying down its debt with the banks on December 4th, when a $650 million payment will be required. At one point, it was thought this might ensure the sale of Wrigley Field and the Cubs before the end of 2008. But Zell's recent agreement to sell Newsday, a deal that will net Tribune Company about $630 million in cash, gives the foul-mouthed billionaire the latitude to take his time negotiating the sale of the ballpark and the team.
he subscribes to my twitter, he's beyond TCR. #yolo #swag
Whoops. Maddon must have been reading TCR (for his daily crunch) and got confused.
kuhl is a righty, not a lefty.
early tim tebow stuff rolling in...
plus, the kids deserve it.
That's because of the ridiculous "split season" schedule most of the minor leagues now play, a stupid system that rewards mediocrity at the expense of the worthy.
"i'm gonna make you my main squeeze one day, bro. save the date."
This level of discourse is #charming.
Have a nice day.
what would you do without me? aside from having your posting content here cut by 75%+?
i'm gonna make you my main squeeze one day, bro. save the date.
In this instance, yes, I care more about the result of this big thing that isn't really a big thing.
i have no doubt at all you quit reading at that point. you're very enamored with outcomes without caring what it takes to get there.
the fact it's exploitable, especially without someone to cover the running game for him, as well it's evolution in how people are testing possible exploits is interesting to some people...to me...i'm some people...hurrah.
some people want to check the boxscore to see who won, some want to know how it went down.