Tribune Sold!!!

by tal1286 on Apr 2, 2007 7:32 AM CDT

I don't know what this means for the Cubs but a man named Sam Zell just bought out the Tribune Corporation.

Here is the link:
http://biz.yahoo.com/ap/070402/tribune_sale.html?.v=3

Maybe someone can enlighten us on who Sam Zell is and what he might do with the Cubs. I don't really know what is going to happen (and I need 300 Characters).

This is a FanPost and does not necessarily reflect the views of SB Nation or Al Yellon, managing editor (unless it's a FanPost posted by Al). FanPost opinions are valued expressions of opinion by passionate and knowledgeable baseball fans.

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Holy shit

Is that a joke? I think the sale would also have to be accepted by the MLB.

MILLER!

by roach on Apr 2, 2007 7:38 AM CDT reply actions

Craziness..

..I thought it was a joke too, but my calendar says April second, not first.

Let me be the first to welcome our new baseball overlord: BRING ME A CHAMPIONSHIP!

Chicks dig the long ball

by Will23 on Apr 2, 2007 7:52 AM CDT up reply actions

why the hell...

would the sale of tribune co need to be overseen by MLB? They have absolutely NO authority in this situation. That would be like asking the NFL to restructure the federal tax brackets.

Baby, you got a stew goin'

by Thelonious on Apr 2, 2007 8:25 AM CDT up reply actions

The sale of Tribco...

... doesn't have to be approved by MLB, although the sale of the media parts will have to go through various federal regulatory agencies.

The sale of the CUBS has to be approved by MLB.

"That's my opinion and if you don't like it, well, I have others." ~ Groucho Marx

by Al Yellon on Apr 2, 2007 8:36 AM CDT up reply actions

well, obviously

but the poster above was somehow mistaking the MLB for the FTC etc.

Baby, you got a stew goin'

by Thelonious on Apr 2, 2007 8:41 AM CDT up reply actions

Probably so.

n/t

"That's my opinion and if you don't like it, well, I have others." ~ Groucho Marx

by Al Yellon on Apr 2, 2007 8:47 AM CDT up reply actions

Well....

I was just going to post this:

http://www.laobserved.com/archive/2007/04/working_late_in_chicago.php

Which says that they were "working late" into the night in Chicago because the Tribune board preferred Zell's off over Burkle and Broad.

Zell is a minority owner of the White Sox, so he's either going to have to sell the Cubs or divest himself of his stake in the Sox. He can't have both. He's known as the Grave Dancer, meaning he buys companies in trouble, says all sorts of things like "I intend to keep this company together", and then eventually sells off or liquidates the parts he doesn't want. He did it to a retail company I worked for in the early 90's beofre I became a lawyer. It will be very interesting to see how this unfolds. The Tribune has a plethora of parts, including the Cubs, L.A. Times, WGN, KTLA here in L.A., the Food Network, on and on and on. Given Zell's track record, I don't think anyone can say with certainty what will happen to the Cubs. It's very possible they get sold again. Or not.

Santo Forever!

by BeerCub on Apr 2, 2007 7:47 AM CDT reply actions

Zell will sell the Cubs after the buyout is done..

http://www.bloomberg.com/apps/news?pid=20601087&sid=aRgB3LmtIuQs&refer=home

Go Cubs!

by Neifi Puppy on Apr 2, 2007 8:02 AM CDT up reply actions

Cubs to be sold after this season!!!!

WGN Radio is reporting right now that the Cubs will be sold after the 2007 season.

by Chuckles on Apr 2, 2007 8:01 AM CDT reply actions

Will the sale affect Zambrano's new contract?

If the team is to be sold at the end of the season, will this have any affect on signing Zambrano's extension? Would another monster contact (to go with the $300 million spent this winter) be good or bad when looking for a potential buyer? Will Zell put the brakes on any additional spending until the team is sold?

by 08 Cubs on Apr 2, 2007 8:35 AM CDT reply actions

Well...

... Zell's bid has been accepted, but the sale is by no means final. It's not as if Zell is going to step into management/ownership today.

I think if the Cubs and Z reach agreement soon (and it appears they're close), this sale has no bearing on that signing.

"That's my opinion and if you don't like it, well, I have others." ~ Groucho Marx

by Al Yellon on Apr 2, 2007 8:37 AM CDT up reply actions

http://www.ipetitions.com/petition/Cuban/

Ka CHING!

Not that kind of north side.

by HerrProf on Apr 2, 2007 8:38 AM CDT reply actions

Zambrano.....

Does this in any way give the Cubs even less limitations on the purse strings? I just remember hearing around the 1st day of free agency that the Cubs would try to bolster their roster no matter the cost to entice higher bids once the Trib was sold. Now it has been sold. Can we assume that Big Z gets what he wants and then some or will this not really affect those negotiations?

Only 82 more losses and those stupid redbirds have a losing season.

by Dcubbienole on Apr 2, 2007 8:51 AM CDT reply actions

I don't think it matters.

The Z deal is likely so close to being done (maybe even today) that this sale, which has just been announced and not even finalized, should have zero effect on it.

"That's my opinion and if you don't like it, well, I have others." ~ Groucho Marx

by Al Yellon on Apr 2, 2007 9:07 AM CDT up reply actions

FWIW

My mom went to summer camp with Zell and was friends with him and his wife when they were young adults. We joke about it from time to time.

Anyhow, now that the Cubs are going to be sold free of TribCo and WGN's assets, it will be interesting to see what direction this all goes in. Zell likely sells to the highest bidder, but people also need to realize that the new owner is going to have to be MLB approvable. For those who like Mark Cuban, you need to realize that MLB doesn't like "characters" as owners. They dealt with George Steinbrenner and his suspensions. Ted Turner tried to manage the Braves in the '70's and got suspended. I don't believe that I need to remind anyone about Marge Schott. So if there are several bidders all offering in the same neighborhood, Mark Cuban isn't going to end up anywhere near Clark and Addison.

Anyhow, this will be interesting, the proceedings over the next several months. Interested parties made their intentions known when the team wasn't for sale. Now that its official, the impending Cubs sale is going to become a public auction on the world's stage with the whose-who of American business waving around piles of money to be the next owner of professional sports biggest enigma.

DmL

by dmlichte on Apr 2, 2007 8:54 AM CDT reply actions

I have a gut feeling

it's going to be Trump.

by Scott @ Bleed Cubbie Blue on Apr 2, 2007 10:06 AM CDT up reply actions

partnered with...

Vince McMahon, of course.

AHHHHHHHHHHHHHHHHHHH!!!!!!!!!!!

by davidalanu on Apr 2, 2007 11:02 AM CDT up reply actions

This has legs

Trump buying the Cubs is not as far fetched as people would think.

Or at least being part of a group.

By the way it looks like the next Apprentice is going to be Chicago.

For Cub fans spring training combines the eternal hope of spring with the irrational belief in the impossible.

by kerrysotherwife on Apr 2, 2007 11:19 AM CDT up reply actions

I have no evidence, mind you

But he is active in Chicago and has said before that he would consider buying the Cubs if they were for sale.

It would be a chance for him to get a ton of media hype, which he loves. It also gives him the chance, if the Cubs are successful, to have King George type worship from a huge fan base.

Like I say, just a gut feeling that he'll be part of it.

by Scott @ Bleed Cubbie Blue on Apr 2, 2007 11:39 AM CDT up reply actions

Trump

I'd seriously consider not being a Cubs fan anymore if Trump was the majority owner.

"Don't think; it can only hurt the ball club."

by Jesse Guam on Apr 2, 2007 12:20 PM CDT up reply actions

So would I

I seriously doubt I could cheer for a team owned by Donald Trump.

But seriously, the odds of Donald Trump buying the Cubs are pretty damn small. First of all, the guy doesn't have nearly as much money as he claims he does. Although he probably does have enough money to buy the Cubs, most of his money is tied up in all his various real estate ventures and he'd probably be loathe to give any of that up.

Secondly, one has gotta doubt that Selig would approve him. I think Mark Cuban would have a better chance of getting approved as an owner than Donald Trump would. At least Cuban has shown that he's willing to defer to the NBA on some issues. Well, almost every issue other than officiating.

Trump, as an owner, would immediately start telling MLB how to run the industry. I'm sure all the other owners would love that.

by Josh Timmers on Apr 2, 2007 4:26 PM CDT up reply actions

Plus everything

he owns has his name on it. Wrigley Field would become Trump Field.

Go Cubs!!

by sue369 on Apr 2, 2007 6:23 PM CDT up reply actions

Cuban

The other MLB owners would be nuts to stand in the way of Mark Cuban buying the Cubs.

Although he's been a thorn in David Stern's side, he's had a profoundly positive impact on the Mavs' franchise, and the league as a whole.

Putting a guy that's going to put winning above all else in charge of one of MLB's marquee franchises would be terrific for MLB. A contending Cubs team is good for baseball, plain and simple.

Having said all that, MLB's higher-ups and the owners certainly have a puzzling way of going about things sometimes, so I wouldn't put it past them to throw up roadblocks.

by davearm on Apr 2, 2007 10:16 AM CDT up reply actions

He is also

a fanatic Pirates fan, being a native of the state of Pennsylvania and would more than likely buy that team over the Cubs if he had the chance.

I'm not sure what this obsession over Mark Cuban is all about, but I would agree that it would be nice to get a Mark Cuban-like owner rather than a monolithic corporate entity like TribCo.

Mike Downey seems to agree:

http://www.chicagotribune.com/sports/chi-070402downeycubscolumn,1,508456.column?coll=chi-news-hed

by JFCubFan on Apr 2, 2007 11:50 AM CDT up reply actions

Pirate fan

Doesn't bother me. Arte Moreno was a lifelong Yankee fan before becoming a minority owner of the Diamondbacks. Then he became an Angels fan when he bought the Angels.

When it's your team, as in the team you own, you change your loyalties real fast.

by Josh Timmers on Apr 2, 2007 4:29 PM CDT up reply actions

Ray Krox was a Cubs fan

Many times he tried to pry the Cubs from the Wrigley Family. They won't sell. He buys the Pads in '74, then, the Cubs sell 7 years later. Ray became a HUGE Padres fan.

by San Diego Smooth Jazz Man on Apr 2, 2007 5:36 PM CDT up reply actions

I think you guys missed my point

Sure Cuban can become a Cubs fan if he buys the team, but I question whether he has sufficent interest at this time in becoming a double sports franchise owner. When he bought the Mavericks in 2000, he was already a fanatic basketball fan, a fanatic Mavericks fan, and was living in Dallas. He is neither living in Chicago, nor a big baseball fan from what I know, nor a Cubs fan in particular which suggests to me that he would not tender an offer to TribCo to buy the team.

Would he care to divide his time between the Mavericks, his Dallas business interests and the Cubs in Chicago? I doubt it. And if he did would the Cubs receive a fair share of his attention? Imagine all the talk radio howling and blog-flaming if it is perceived that the Cubs do not.

Would he move to Chicago like the McCourts moved to LA from Boston when they bought the Dodgers? Don't think so.

I would like this team to be owned by a guy like Mark Cuban as long as it isn't him - a rich, loose with his pocketbook, one-sports franchise owner who is personally and emotionally connected with the team and who either lives in Chicago today or permanently moves there.

by JFCubFan on Apr 2, 2007 6:38 PM CDT up reply actions

Bad Omen to start the season.

A White Sox minority owner buys the Tribune on opening day. Lets hope this works out and is a curse on him by the Cubs winning the World Series while he owns the team.

A good day for me is a cubs win and a sox loss.

by diehardmark on Apr 2, 2007 10:26 AM CDT reply actions

If recent history is a guide

The first people we should look at for being the new Cub owner should be the losing bidders from the last sale. John Henry, Frank McCourt amd Jeff Loria were all involved in previous bids for teams. The Lerners weren't, but their local ties and Stan Kasten beat out two other first-time bidders. Arte Moreno was a minority owner of the Diamondbacks and was rebuffed in an attempt to buy the whole team before taking over the Angels.

I'm saying the favorite right now is former Mariner owner Jeff Smulyan. The biggest knock on his bid for the Nationals is that he wasn't a local owner--but as an Indianapolis resident that's probably close enough for MLB to be considered a local owner for the Cubs. He probably can get his team back together that failed in the Nationals bid.

I'm not predicting that Smulyan will be the next Cub owner. I don't even know if he's going to bid. Even if he decides to bid, his "favorite" status in my mind may only be a 20% chance of buying the team.

But I will predict that Jeff Smulyan will be a name we'll hear. And MLB would approve of him.

by Josh Timmers on Apr 2, 2007 4:41 PM CDT reply actions

Jerry Colangelo.

There's a name that makes a lot of sense -- I think he'd like to get back into ownership after the bad taste left when he was dumped in Arizona; he grew up in the Chicago area as a Cubs fan.

He'd be welcomed by the other owners and I don't think he'd have a lot of trouble putting together a partnership.

Watch for this.

"That's my opinion and if you don't like it, well, I have others." ~ Groucho Marx

by Al Yellon on Apr 2, 2007 5:07 PM CDT up reply actions

Smulyan -- NO, Colangelo - maybe...

From Inside Radio 4-3

The reference is: Would Smulyan buy WGN?

Don't look to Jeff Smulyan or Emmis (Communications) as a buyer in Chicago.
For either the Cubs or WGN Radio - even though Jeff loves baseball and (we believe) once held talks about acquiring WGN. We queried an Emmis rep about Smulyan's interest in either the team or the station and "the answer is no."

from thebizofbaseball.com 4-3 (via the Tribune)

Now, with Sam Zell purchasing the Tribune Co. and looking to do a quick turn (something else we reported ahead of the curve) of the Cubs due to ownership in the White Sox, Colangelo is making his interest know again. As reported by the Chicago Tribune:

"I've already had a few calls about that from financial people if I'd be interested," Colangelo said Monday in a telephone interview. "My attitude is this: This is what I anticipated, that they'd be sold after the 2007 season. So I've put this on the shelf, and I'll wait and see what will transpire."

As to how he views the Cubs after the sale of the Tribune Co. to Zell. "Now we'll revisit it," Colangelo said. "It's fresh, it's new. I'm going to be watching with interest."

by San Diego Smooth Jazz Man on Apr 3, 2007 12:16 PM CDT up reply actions

Levin!

My personal favorite would be Don Levin, owner of the Chicago Wolves. In reading various articles over the past several months, he would have no trouble coming up with the financing, he's a local guy, loves the Cubs and has built the Wolves into the best minor league franchise.

He built his businesses into powerhouses and isn't a meddling micromanager type.

He's articulate, interactive and very visible. MLB owners would have no issue voting for him.

I've wanted him to over-take the buffoon Wirtz and buy the Blackhawks for years but now since our Cubbies are on the block, no better time than the present for him to take the leap to the majors.

da-da-daddio

by blackhawk24 on Apr 3, 2007 12:52 PM CDT up reply actions

I don't know much about Levin...

... but I do know he's made the Wolves very fan-friendly and popular. I'd be all for that.

"That's my opinion and if you don't like it, well, I have others." ~ Groucho Marx

by Al Yellon on Apr 3, 2007 3:25 PM CDT up reply actions

Now THAT's a name

that would be welcomed. Colangelo....maybe Stoney? And others.....

by San Diego Smooth Jazz Man on Apr 2, 2007 5:33 PM CDT reply actions

Didn't Colangelo

leave the D-Backs in terrible financial shape?

I remember reading that in his last years they had a lot of trouble making payroll and paying their bills.

by Peoria Matt on Apr 3, 2007 11:04 AM CDT reply actions

Essentially...

... Colangelo mortgaged the D'backs' future to win the WS in 2001. While they were indeed in bad shape financially when the board forced him out, I doubt that any of the D'backs fans would give back that championship.

"That's my opinion and if you don't like it, well, I have others." ~ Groucho Marx

by Al Yellon on Apr 3, 2007 3:26 PM CDT up reply actions