Colangelo confirms interest in Cubs

by ryno HOF 2005 on Nov 22, 2006 3:17 PM CST Comment 16 comments

http://chicagosports.chicagotribune.com/sports/baseball/cubs/cs-061122cubscolangelo,1,2392951.story? coll=cs-home-headlines

As of right now, the Tribune still insists the Cubs are not for sale. It does seem quite obvious that they are raising the value of the team in hopes of making a huge profit. I still would rather have a Mark Cuban type buy the Cubs. Then again, beggars can't be choosers. Whoever ends up with our favorite team, let's hope and pray a World Series championship comes our way!

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Colangelo

You beat me by a few seconds on this...

To add, it appears that the Tribune Company is going to be sold to billionaires Eli Broad and Ron Burkle of LA. This was reported today on WSCR and they said it could happen quickly. It was also reported that Broad and Burkle may decide to hold onto the broadcasting side of TribCo and the Cubs.

The thing about Colangelo is that if the Cubs are sold, MLB will likely push for someone like Colangelo to be the next owner. Colangelo is a known quantity and MLB isn't going to want to go with some young gunslinger like Cuban.

DmL

by dmlichte on Nov 22, 2006 3:25 PM CST reply actions 0 recs

the problem with this is...

that I do not believe the new owners of Tribco would be allowed to keep the Broadcast side and keep the paper in Chicago due to media cross-ownership rules. Tribune Company is grandfathered in because they owned the paper, WGN radio and WGN TV before the rules went into effect. With a new owner of Tribco, I believe they would have to divest themselves of the paper or WGN TV & Radio. If they get rid of the broadcast units, there would be no reason for them to keep the Cubs.

Kasey

by kaseyi on Nov 22, 2006 3:36 PM CST up reply actions 0 recs

This is exactly why...

... the sale is so tricky, and why the Cubs might not be divested. If Broad & Burkle do buy the entire company, they would, I think, keep everything together.

They MIGHT be inclined to consider Colangelo as a partner in running the Cubs, however, given his baseball experience and connections to the city.

by Al on Nov 22, 2006 3:54 PM CST up reply actions 0 recs

Why...

... would they maintain the status quo? I mean things aren't exactly running swimmingly at Tribco.

DmL

by dmlichte on Nov 22, 2006 3:56 PM CST up reply actions 0 recs

Because in some ways...

... divestiture makes the individual parts worth less. Splitting up the Tribune and WGN-TV and radio would make each of those parts, for example, lesser media lights.

by Al on Nov 22, 2006 4:01 PM CST up reply actions 0 recs

Amazing that if this "done deal" is so

done, why hasn't the stock been halted? Why did the stock trade down today? More exclusive info from the score? You all know what that is worth.

by cubswin on Nov 22, 2006 4:04 PM CST up reply actions 0 recs

And who's to say

that if WGN has a new owner and the Cubs a different owner that WGN would pay for the rights to broadcast the Cubs. I would hate to see this happen but it is a possibility.

Spendry!!!

by mrcubsfan on Nov 22, 2006 4:51 PM CST up reply actions 0 recs

I think

they should make you a partner in running the Cubs.

"Incidentally, Colossus was right and I was wrong about Maddux being dealt." -Al Yellon

by colossus on Nov 22, 2006 4:00 PM CST up reply actions 0 recs

Broad and Burkle

would almost certainly be acceptable owners for MLB, if they wanted to keep the team. Burkle is already a minority owner of the Pittsburgh Penguins and Broad would have been an NFL owner had the LA stadium financing not collapsed. I don't see why MLB would have a problem with them as owners.

On top of that, Arte Moreno probably would not be in favor of Colangelo owning the Cubs. He and Colangelo had a big falling out when Moreno was a minority owner of the Diamondbacks and he tried to take control of the Diamondbacks from Colangelo. Colangelo forced him out instead.

I don't know if Moreno holds grudges or if he would have the power to keep Colangelo out, but I do know they don't like each other.

A little song, a little dance. A little seltzer down your pants

by Josh77 on Nov 22, 2006 7:54 PM CST up reply actions 0 recs

The Tribe making a profit?

Hell, didn't they buy it in the late 70's or early 80's for $21 million? The turn around will be huge.

So far, so good. Now let's save a little money for starting pitching, Jim Spendry!!

by fuzzycubfan on Nov 22, 2006 4:32 PM CST reply actions 0 recs

Going Unmentioned Here....

...is that if Broad and Burkle do buy the Trib, they're taking it private.

Santo Forever!

by BeerCub on Nov 22, 2006 5:28 PM CST reply actions 0 recs

Right...

... which, I think, would actually make it MORE likely that they'd keep the whole mess together.

by Al on Nov 22, 2006 5:47 PM CST up reply actions 0 recs

Agreed

I really think Broad (rhymes with road, btw) and Burkle would be loathe to part with such a sports jewel as the Cubs. They've shown an interest in owning sports franchises in the past, including the Dodgers. Why would they sell the Cubs?

A little song, a little dance. A little seltzer down your pants

by Josh77 on Nov 22, 2006 7:59 PM CST up reply actions 0 recs

Reality

The Cubs will be sold seperate from the Trib. Whether
they are sold with wgn or not, the idea that Trib properties will be sold as a unit seems improbable based upon newspaper values declining.

Players win awards but teams win championships.

by tharr on Nov 22, 2006 7:53 PM CST reply actions 0 recs

Reality is

the Cubs won't be sold unless the Trib sells the TV stations. There is no need to sell the Cubs, unless someone seriously overpays for them. Like a 900 mil to a billion dollar bid. That would in itself put the new owners at a serious disadvantage going forward.

Colangalo ran into to this problem before and was forced out in AZ.

by cubswin on Nov 23, 2006 10:34 AM CST up reply actions 0 recs

Link

http://tinyurl.com/wj54c

This is pure speculation by Bickley, but I wouldn't count Colangelo out. The odds of him becoming the next owner of the Cubs are a lot better than the odds in the mid-90s were that he would bring MLB to Phoenix, AZ.

by jazzman56 on Nov 23, 2006 3:30 PM CST reply actions 0 recs