Cubs to be sold after '07 season (1 Viewer)

[Tough As Nails]

Lots and lots of speculation on this. But now the Tribune Company has come out and announced that the Cubs will be sold. Mark Cuban has openly lobbied for the chance to buy the team. That would be a ton of fun.

http://sports.espn.go.com/mlb/news/story?id=2821964

 

[Doctor Detroit]

Maybe the gum guy will buy them back.

 

[posty]

Interesting that they fork out all of that money for this last set of free agents and now they are jumping ship...

 

[Tough As Nails]

Interesting that they fork out all of that money for this last set of free agents and now they are jumping ship...

Worried about their legacy perhaps? They were known for a long time for being cheap. So now, in their last year, they spend a ton of cash as their last act hoping that people will remember that instead of the 24 years prior?

 

[Statorama]

Nice anticipated turnaround on their $20 million dollar investment.

Mark Cuban will never own the Cubs though. I can't see the other owners approving the sale if he's connected. No way they're on board with his kind of hijinx.

 

[avoiding injuries]

ESPN bottom line is reporting the cubs will be sold after the 2007 season to Sam Zell for an 8.2B buy out. What does the buyout mean and why is it 8.2B?

 

[culdeus]

ESPN bottom line is reporting the cubs will be sold after the 2007 season to Sam Zell for an 8.2B buy out. What does the buyout mean and why is it 8.2B?

He is buying the whole tribune company and of that 315Mil is to buy the cubs too.

 

[avoiding injuries]

ESPN bottom line is reporting the cubs will be sold after the 2007 season to Sam Zell for an 8.2B buy out. What does the buyout mean and why is it 8.2B?

He is buying the whole tribune company and of that 315Mil is to buy the cubs too.

Ah ha. Thanks.

 

[Tough As Nails]

ESPN bottom line is reporting the cubs will be sold after the 2007 season to Sam Zell for an 8.2B buy out. What does the buyout mean and why is it 8.2B?

He is buying the whole tribune company and of that 315Mil is to buy the cubs too.

The Cubs would fetch faaaar more than 315M on the open market. This guy is getting a steal on that part of the deal. Though getting a couple hundred million discount in an 8 billion dollar deal isn't a real sticking point, I'm sure.

 

[Limp Ditka]

This is getting good. The reason Sam Zell has to sell the Cubs is because he's a minority owner of the Chicago White Sox. Owning 2 different teams is a no-no in MLB.

So Zell has to sell the Flubs, but he doesn't have to sell Wrigley Field which is also part of the Tribune deal.

So its quite possible the whoever buys the Cubs will have to be paying a minority owner of the Chicago White Sox rent to play in Wrigley Field if Zell decides to keep the property.

TALK ABOUT :

 

[culdeus]

So the 315 is just for the stadium?

 

[Limp Ditka]

So the 315 is just for the stadium?

No, I think the Cubs still went for $315M. The article in the Chicago Tribune today said Wrigley would go for about $90M

 

[Rounders]

Rumors awhile back said that Cuban put out an offer of $650 for the Cubs AND Wrigley.

Not bad for Zell. The cubs were bought in 1981 for 20 million, now that's a return on your investment.