The 12,785th Update On The Cubs Sale

by Al on Nov 19, 2008 9:39 PM CST in News Comment 49 comments

Yet another deadline has been set for more offers to be submitted to Sam Zell and Tribune Co. for the sale of the Cubs:

Bidders for the Cubs have until Dec. 1 to submit offers, Major League Baseball said Wednesday after a meeting of its ownership committee.

Bob DuPuy, baseball's chief operating officer, said representatives of four bidders have met in New York in recent weeks with officials from the commissioner's office, MLB's Internet company and the sport's new television network.

The team was put up for sale in April 2007 when Tribune Co., the Cubs' owner, announced it was being acquired by real estate developer Sam Zell. DuPuy said the latest deadline was set by the Tribune Co.

"Bids are expected the week after Thanksgiving," DuPuy said. "Mr. Zell claims the team is for sale and they're moving forward."

I especially like that last part: "Mr. Zell claims the team is for sale." As if they don't really believe him. Clearly, Tribune Co. is in serious financial trouble, as is the entire newspaper industry (not to mention many other sectors of our economy) and the fact that Zell and Tribco have debt service payments due soon is well known.

Still, whether or not the completion of the sale of the team will happen by Thanksgiving (as one rumor had it) or Christmas (said another) or the Twelfth of Never (as many pop singers might have said) is still a matter of YGIAGAM (Your Guess Is As Good As Mine, for those not big into acronyms).

We, as always, await further developments. Prediction: when this deal finally gets done, it will be the Ricketts family of Omaha (whose fortune was made in owning the Ameritrade online brokerage) who will be the new owners.

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Comments

Holy crap

sell the team already.

Evey Hammond: Vi Veri Veniversum Vivus Vici. V: By the power of truth, I, while living, have conquered the universe.

by dtpollitt on Nov 19, 2008 9:44 PM CST reply actions 0 recs

C'mon Al, we all know this is the 12,786TH update!

Can’t you count?

;)

"I see great things in baseball. It's our game - the American game." - Walt Whitman

by hip2bsquare on Nov 19, 2008 9:56 PM CST reply actions 0 recs

Sorry, lost count about six months ago!

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

by Al on Nov 19, 2008 9:58 PM CST up reply actions 0 recs

Buy a new computer! :-)

"I've never complained about it. I'm thankful to have a jersey." Mark DeRosa, 22 Aug 2007

by DeRoMyHero on Nov 19, 2008 11:02 PM CST up reply actions 0 recs

I did!

Maybe that’s the problem!

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

by Al on Nov 20, 2008 9:09 AM CST up reply actions 0 recs

Did ya go with the MBP, Al?

Evey Hammond: Vi Veri Veniversum Vivus Vici. V: By the power of truth, I, while living, have conquered the universe.

by dtpollitt on Nov 20, 2008 10:01 AM CST up reply actions 0 recs

Did you get 4GB of memory?

2.4 GHz processor?

Maybe you just don’t have enough crunching power for such a complex calculation.

"I've never complained about it. I'm thankful to have a jersey." Mark DeRosa, 22 Aug 2007

by DeRoMyHero on Nov 20, 2008 11:42 AM CST up reply actions 0 recs

Well...

… yes, I got a MacBook Pro. Love it. Yes, I have 4GB of memory and a 250 GB hard drive.

Still… it must not have transferred over one of those updates from my PC. Let’s blame Microsoft.

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

by Al on Nov 20, 2008 1:02 PM CST up reply actions 0 recs

OK, it's Bill Gates's fault.

(I have a MacBook Pro as well.)

"I've never complained about it. I'm thankful to have a jersey." Mark DeRosa, 22 Aug 2007

by DeRoMyHero on Nov 20, 2008 1:48 PM CST up reply actions 0 recs

Price Going Down?

I wonder, because of the economy, is the sale price going down? I figure they will have to end up taking a smaller price than they would have a year or too ago. Well, that is if they seriously want it sold ASAP.

Maybe not… I dunno.

by TheHawkRules on Nov 19, 2008 11:00 PM CST reply actions 0 recs

OT: I'm really glad to see Don Wakamatsu get a managing gig;

I just wish it were in a better situation than the morass that is Seattle.

"I've never complained about it. I'm thankful to have a jersey." Mark DeRosa, 22 Aug 2007

by DeRoMyHero on Nov 19, 2008 11:28 PM CST reply actions 0 recs

just curious

why are you glad to see this? I had never heard of the guy, but he has one funny ass last name.

bring up felix.

by kylejo on Nov 20, 2008 11:04 AM CST up reply actions 0 recs

I knew him in college

(NOT in the Biblical sense).

He is a first-class person, a very hard worker, and a baseball lifer. He’s paid his dues, and he deserves a shot at managing. Guys who don’t have much of a ML career (he only had 31 ML ABs) usually have to wait in line while the bigger names (e.g., Willie Randolph) get the first shot at managerial openings, and some never get a chance.

"I've never complained about it. I'm thankful to have a jersey." Mark DeRosa, 22 Aug 2007

by DeRoMyHero on Nov 20, 2008 11:47 AM CST up reply actions 0 recs

Nice to know this.

I hope he does well. There’s nowhere to go but up in the Seattle situation.

Wakamatsu, obviously, is of Japanese descent. I wonder if he speaks the language? That might make it easier to communicate with Ichiro and Johjima.

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

by Al on Nov 20, 2008 1:03 PM CST up reply actions 0 recs

Actually, I think he is half-Japanese.

Not sure, but the other half might be Hawaiian or something. He is 3rd generation, I think. His dad speaks Japanese, but I think Don only knows a smattering of it. At the very least, he understands the culture much better than some of the other candidates they were interviewing.

I think that the communication problems between the pitching staff and Johjima played a big part in the hiring. Wak was a catcher and catching instructor; the pitchers don’t like throwing to Johjima, but management signed him to a new contract anyway.

The Days of our Mariners premieres in four months…

"I've never complained about it. I'm thankful to have a jersey." Mark DeRosa, 22 Aug 2007

by DeRoMyHero on Nov 20, 2008 1:57 PM CST up reply actions 0 recs

OT

what happened to santoswoodenlegs?? havent seen him post in awhile and miss the laughs.

Dear Santa:: All I want for X-mas this year is an official 2009 Jake Peavy Cubs Jersey. Oh and a Beimel one too. I've been a real good guy for the most part!!!

by cubsluver22 on Nov 20, 2008 12:32 AM CST reply actions 0 recs

I've seen an occasional post from him.

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

by Al on Nov 20, 2008 9:10 AM CST up reply actions 0 recs

I've been around...

just haven’t been that involved in the discussion most of the time…but rest assured, I’m here almost everyday.

As I've told you before, I never repeat myself.

by santoswoodenlegs on Nov 20, 2008 10:53 AM CST up reply actions 0 recs

Are you gathering up a new supply of JPEGs?

"I've never complained about it. I'm thankful to have a jersey." Mark DeRosa, 22 Aug 2007

by DeRoMyHero on Nov 20, 2008 11:48 AM CST up reply actions 0 recs

I've scouted high and low...but all I've been able to gather up so far...

is this baby deer.

P.S. It was delicious.

As I've told you before, I never repeat myself.

by santoswoodenlegs on Nov 20, 2008 12:05 PM CST up reply actions 0 recs

Just wrong...

on so many levels. But, I did laugh.

"Booze, broads, and bullshit. If you got all that, what else do you need?" Harry Caray

by CubbieintheSouth on Nov 20, 2008 1:32 PM CST up reply actions 0 recs

lmao

I needed that!

Dear Santa:: All I want for X-mas this year is an official 2009 Jake Peavy Cubs Jersey. Oh and a Beimel one too. I've been a real good guy for the most part!!!

by cubsluver22 on Nov 20, 2008 1:55 PM CST up reply actions 0 recs

Isn't that Mike Fontenot?

Old Style is the nectar of life.

by Mordecai on Nov 20, 2008 4:31 PM CST up reply actions 0 recs

Too big.

"I've never complained about it. I'm thankful to have a jersey." Mark DeRosa, 22 Aug 2007

by DeRoMyHero on Nov 20, 2008 8:07 PM CST up reply actions 0 recs

12788th

Al you missed 3.

The Jewel Sunday Shopper in July.

The Sewing News Article in May.

The Soap Opera Digest article in August (this has been a soap opera would be appropriate)

It's a boy. My new nephew William Oliver born 11/14/2008 256 am. Thank you to all who offered best wishes when I mentioned it a few times over this summer and fall.

That's not my nephew in the picture. Don't have one to upload yet.

by cubstoseriesby100 on Nov 20, 2008 6:52 AM CST reply actions 0 recs

I think we heard more about Brian Roberts last year

than we have about the pending sale.

Dallas Green!

by SonnyJ9 on Nov 20, 2008 7:28 AM CST reply actions 0 recs

And this year, too.

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

by Al on Nov 20, 2008 9:10 AM CST up reply actions 0 recs

who is this Brian Roberts

you speak of?

"That’s the great thing about baseball, you never know what’s going to happen till you get the final out." — Lou Piniella

by drewishdrewid on Nov 20, 2008 2:19 PM CST up reply actions 0 recs

Never heard of him.

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

by Al on Nov 20, 2008 2:25 PM CST up reply actions 0 recs

Ask Deep Goat who he is.

"I've never complained about it. I'm thankful to have a jersey." Mark DeRosa, 22 Aug 2007

by DeRoMyHero on Nov 20, 2008 2:43 PM CST up reply actions 0 recs

Omaha?

Ricketts family of Omaha … The Omaha Cubs? Nah. Doesn’t sound right.

Ya gotta love a team with a shortstop named TheRiot ...

by StampMe on Nov 20, 2008 8:25 AM CST reply actions 0 recs

That will never happen

They barely appreciate the Omaha Royals. But maybe thats because its the Royals.

by ryan89 on Nov 20, 2008 8:55 AM CST up reply actions 0 recs

I agree lets get this club sold

This has dragged on longer than the primary season. I am not to familiar of the Ricketts family, hopefully they will run this team properly.

"Have You heard of the Boom on Mizar 5?"

by Grockcubs on Nov 20, 2008 9:46 AM CST reply actions 0 recs

Speaking of the Royals...

Anybody think they’ll trade David DeJesus now that they’ve picked up Coco? There might be a team out there looking for a solid CF who hits from the left side with a .360 OBP

by Bierkieser on Nov 20, 2008 9:57 AM CST reply actions 0 recs

Thinking the same

I am sure they will try to move Teahen or DeJesus

"Have You heard of the Boom on Mizar 5?"

by Grockcubs on Nov 20, 2008 10:22 AM CST up reply actions 0 recs

I'd be happy with Ricketts.

It seems like he’s a Cub fan at heart and would be pretty pragmatic in running the team. I wouldn’t be at all happy with the Canning group.

Formerly NO100

by jerry morales rules on Nov 20, 2008 9:58 AM CST reply actions 0 recs

Agreed.

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

by Al on Nov 20, 2008 1:03 PM CST up reply actions 0 recs

BTW

He’s signed thru 2010 with a club option for 2011. Timing would be perfect for Tyler Colvin if the TJ surgery turns out OK. Just sayin…

by Bierkieser on Nov 20, 2008 9:59 AM CST reply actions 0 recs

Sorry Al,

I know that about a year ago you had a post regarding all the prospective owners, but I wasn’t sure where that was. Anyways, I really just wanted your take or the general view of the Ricketts group. Obviously, its impossible to predict what kind of an owner someone will be but is there anything that is predicted about the Ricketts group or what they said they would do. Just wondering if theres any information. I have nightmares that someone like Robert Nutting of the Pirates turning the cubs into something like that.

by KButler on Nov 20, 2008 10:11 AM CST reply actions 0 recs

well, my two cents on Ricketts

I won’t go as far as to say he’d be the “perfect” owner for the Cubs because I’m sure we all have our own idea of what perfect means, but I will say he seems to have all the positive attributes of the other potential owners and none of their baggage.

He has the money, the passion, the local connection, the business savvy, and there’s nothing to indicate he wouldn’t pass muster with MLB and the other owners. Frankly, I’m not aware of any negatives to his bid at all.

I still wish things somehow could have worked out for Cuban, but I’d be more than happy with Ricketts as owner.

Lou Brown: "My kinda team, Charlie, my kinda team..."

by ballhawk on Nov 20, 2008 12:26 PM CST up reply actions 0 recs

My first choice was Don Levin, owner of the Wolves.

However, he dropped out after the first round.

I agree with ballhawk’s analysis. He seems like a guy who would spend money — maybe not completely freely — and step aside and let his baseball people run the operation.

Sounds like a win-win for us.

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

by Al on Nov 20, 2008 1:04 PM CST up reply actions 0 recs

Something's different

this time. The latest unofficial Official offer to sell was announced by MLB. In the past I believe everything came from the Trib or Zell directly. This would seem to me to indicate Zell hit a brick wall trying to squeeze every last penny out of the bidders while the economy fell into recession. I’d guess the owners have promised some assistance to Zell in their quest to keep Selig’s band of merry men happy and in control.

If you like Selig's handling of the steroid issue, you'll love his choice for next Cub owner.

by tharr on Nov 20, 2008 3:31 PM CST reply actions 0 recs

If that means Canning,

I’d rather wait…I have an eerie feeling if one of Bud’s ass clowns (a.k.a. Reinsdorf Jr) gets in. Everything I’ve heard about Ricketts tells me the Cubs (and our collective sanity) would be much better off with them than Canning and Co.

Sweet Lou for Mayor in '11.

by blackhawk24 on Nov 20, 2008 3:42 PM CST up reply actions 0 recs

I don't understand why everyone thinks Canning has such an in...

… especially when others have been indicated as front-runners.

It’ll be the Ricketts.

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

by Al on Nov 20, 2008 10:20 PM CST up reply actions 0 recs

I hope you're right Al

but c’mon – you’ve been around long enough to know how MLB operates, and specifically Bud, Jerry, and the rest of the Old Guard. And given the shenanigans around the Red Sox sale a few years ago, you can’t blame the folks who think Bud will pull whatever strings are necessary to get his guy in.

Lou Brown: "My kinda team, Charlie, my kinda team..."

by ballhawk on Nov 20, 2008 10:40 PM CST up reply actions 0 recs

Just because of the buddy system Al

Hearing so much how Canning has had the inside track and how MLB handles these things makes me think that way. Hey, I don’t want him any more than you or others here do. We both wanted Don Levin, I was OK with Cuban and am OK with Ricketts. I just hope I’m wrong and it is Ricketts.

Sweet Lou for Mayor in '11.

by blackhawk24 on Nov 22, 2008 5:46 PM CST up reply actions 0 recs