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The Cubs Have A New Owner... Almost

This was posted by jerry morales rules in the FanPosts, but I thought it deserve a front page post as well.

According to the Chicago Sun-Times, Tom Ricketts and his group have been chosen as Tribune Company's preferred bidder.

However, that doesn't mean the sale is done. First, the creditors have to approve (that doesn't seem like much of an issue). Then, Ricketts and his group have to finalize terms. According to the article:

Ricketts is believed to have offered around $900 million. The Cubs, without a World Series crown in 100 years, still are among the most valuable franchises in Major League Baseball because of their strong attendance and national TV following.

Then, MLB owners must approve Ricketts, but that would seem to be a formality. Cubs Chairman Crane Kenney's statements last weekend hinted that MLB owners had already signed off on all three finalists.

But wait! There's more:

The company apparently showed creditors the favored bid as a courtesy. The creditors can fight over the proceeds, but do not have the authority to reject the bid. The Cubs franchise was not covered by the bankruptcy filing.

Tribune is not locked in to negotiate only with one bidder. Others remain free to enrich their offers.

The last paragraph throws a wrench of sorts, although I suspect that this thing will finally get done; if Ricketts has offered $900 million, it doesn't seem likely to me, in the current economy, that the other bidders would go much higher than that (Sam Zell probably could have gotten more for the team a year ago).

Personally, I'm happy if the Ricketts group is the new owner. Tom Ricketts is from Chicago and is a Cubs fan, and once lived over one of the bars near the ballpark. If he opens up his wallet -- and I expect he would -- I think we'll all be very happy with the results.

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So could the judge in Ch-11

proceedings still throw a monkey wrench in the whole thing? Any legal experts on the blog?

Sweet Lou for Mayor in '11.

by blackhawk24 on Jan 22, 2009 7:25 PM CST reply actions  

They certainly could do worse...

I personally was hoping for Mark Cuban (I mean, the guy is basically a fan himself) but I guess we can’t always get what we want.

by northernsails on Jan 22, 2009 7:26 PM CST reply actions  

Ricketts...

Is a lifelong Cubs fan, Cuban is from Pittsburgh.

Someday we'll go all the way...

by CubsBullsBears on Jan 22, 2009 7:32 PM CST up reply actions  

Cuban was a Cub fan in college in the 1970's

Cuban didn’t want to pony up that is the bottom line

Piniella: "This is a tougher job than I thought it would be, I'm going to be honest with you."

by Ivy Walls on Jan 22, 2009 7:33 PM CST up reply actions  

Sure he is

But Cuban is also very much a fan. You remember when he was invited to Wrigley to take in a game while he was still one of the bidders? He didn’t spend it in the executive suites, he was out in the bleachers with the rest of the Bleacher Bums. You know that he does whatever he can to make the Mavs better, I always felt he’d do the same with the Cubs.

by northernsails on Jan 22, 2009 7:33 PM CST up reply actions  

I believe Ricketts will do the same.

For the record, Cuban sat in the bleachers along with a film crew from Dancing With The Stars. It was for self-promotion, not to be one of the bleacher people.

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

by Al Yellon on Jan 22, 2009 8:11 PM CST up reply actions  

Thanks for pointing this out

I would have appreciated him sitting out there if I had heard it here…and not splashed all over ESPN like a photo op. It was a clear publicity thing.

by StevenABQ on Jan 23, 2009 1:58 PM CST up reply actions  

To the extent that Cuban was still in the running...

he may have fallen out when the SEC filed its insider trading charges against him. I had always thought that MLB was going to be reluctant to let him in anyway, given his controversial actions with regard to the Mavericks. Although he’s not convicted of anything yet (and he has recently asked the court to dismiss the charges against him), I’ll bet it would have swayed more than one MLB owner, if he had been the winning bidder.

IF IT TAKES FOREVER!!

by Cubfansince1957 on Jan 22, 2009 10:43 PM CST up reply actions  

Yeah getting past the other owners

Was probably the biggest hurdle, but as Al posted this a while back seems Cuban blames the credit crisis. But your probably right in assuming the SEC charges didn’t help matters.

by StevenABQ on Jan 23, 2009 2:01 PM CST up reply actions  

This is why Ricketts was chosen.

He’s putting in the most cash, which is something the creditors will look at favorably.

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

by Al Yellon on Jan 23, 2009 2:02 PM CST up reply actions  

Finally, the good news is this is coming to an end

I don’t relish Mr. Ricketts position. Today what I reviewed from some other very astute practicing economists is that both don’t believe our economy is very salvageable. The Debt ratio versus the GDP is so far out of wack that it is twice what it was in 1981 and worse than the 1930’s or 1945.

The job news continues to trend worse with 596,000 loss for Jan through Jan 18th! meaning that Bush’s net for eight years is now below 2.4M or less than his father’s in just four years. Microsoft lays off 5%, first time in its existence outside of shedding contractors or two small business units—one a floppy disk unit.

The acceleration of money is slowing at an ever faster rate….all signs of a deepening deflation and oncoming Depression. I am not confident in the least. The problem is not money supply, it is that the private usage is slowing down.

But if Ricketts can deliver a WS entry and victory he will be remembered. Now let us see the creditors balk at $900M….wonder if there aren’t some caveats or is this a straight purchase?

Piniella: "This is a tougher job than I thought it would be, I'm going to be honest with you."

by Ivy Walls on Jan 22, 2009 7:30 PM CST reply actions   1 recs

Go Cubs!

(now excuse me while I jump out of my window)

"One thing I do know is teams like a lot of our pieces. That's not to say they want to give us a lot of players in return, but I know they like a lot of our pieces." - John Paxson (1/21/09)

by Juiceboxjerry on Jan 22, 2009 8:45 PM CST up reply actions  

all things shall pass....even if you lost all your paper wealth

but this will not be funny. Hard economic times has not really been part of the American experience for two full generations. We are not entitled to any life of luxury. We had prosperity since WW II because of our parents and grandparents sacrifice and perseverance, and that was wasted.

We lived on debt for over a quarter of a century and now that balloon has been popped. Hold onto your job if you have one. Be empathetic to your loved ones who might have lost theirs.

Piniella: "This is a tougher job than I thought it would be, I'm going to be honest with you."

by Ivy Walls on Jan 22, 2009 8:56 PM CST up reply actions  

so would you exchange decades of Cubs mediocrity for economic prosperity?

Okay, just so I understand it... in your wildest fantasy, you are in hell. And you are co-running a bed and breakfast with the devil.

by bren on Jan 22, 2009 9:06 PM CST up reply actions  

neither, they are linked

economic prosperity has nothing to do with the Cubs and their ability/inability to produce contenders or winners.

I am giving you sound warning. This recession that we have been in since this time (if not earlier) last year is not your garden variety market correction. We have many fundamentals that are upside down. Since we don’t make too many things we can’t export our way out, but then again there is not a global market that has much money supply to buy anything. It appears that the residential real estate market is 24 months of inventory and growing and is possibly over valued by 50% in some markets. Liquid securities are almost down 50% from their high and still falling. Banks are frozen because in the simplest analogy they have been lending money for used cars at new car prices. Their books are shot. And no executive knows how to manage their business in down times. The Merrill Lynch CEO case shows how bad things are. He was not fired for giving out $3B in bonuses or his $100K decoration of his office, he was fired for he didn’t see their profits and revenues crash.

The Under Armour item is just another example going from $210M in sales to $40M or 18% of projected sales.

This recession will not pass over anyone.

Piniella: "This is a tougher job than I thought it would be, I'm going to be honest with you."

by Ivy Walls on Jan 22, 2009 9:36 PM CST up reply actions  

Stoney, is that you?

"One thing I do know is teams like a lot of our pieces. That's not to say they want to give us a lot of players in return, but I know they like a lot of our pieces." - John Paxson (1/21/09)

by Juiceboxjerry on Jan 22, 2009 10:36 PM CST up reply actions  

doom and gloom.

Yes I am pissed. This like ‘30-’33 it did not have to be so deep or bad. These things are not divine intervention but the folly and stupidity of many who think themselves so smart and gifted. Ironically I was told in Nov ’06 that things were changing rapidly in the private equity markets and saw many a quiet smart person seek some kind of safe harbor.

This was being seen, but no one wanted to say anything. I saw Cheney on an interview on PBS where he exclaimed at Lehrer if he had seen it coming when asked, as if a news guy should know what a VP does. Get real, many saw it, but did nothing. The RE market was beginning to tank in summer ’06 when it was manageable. Now we have job loss because every one is holding onto money.

Piniella: "This is a tougher job than I thought it would be, I'm going to be honest with you."

by Ivy Walls on Jan 22, 2009 11:30 PM CST up reply actions  

not even sure how to respond to that...

I was joking….i dont think they are linked,in teh short term at least, Ricketts can go out and spend money to win now and suffer the downturn in fan spending due to the economy…..or he can slash costs by reducing payroll ensuring a mediocre team, especially given the farm system.

in any event, i was joking as many Cubs fans seem like they would give nearly anything to see a title

Okay, just so I understand it... in your wildest fantasy, you are in hell. And you are co-running a bed and breakfast with the devil.

by bren on Jan 22, 2009 11:00 PM CST up reply actions  

I think the new owner is stuck with the payroll through 2010

The problem with deflationary trends in any industry is there is a lack of buyers. There was an article the other day why there is no market for Griffey, IROD, and Glavine, all certain HOF players. You know Maddux might have come to realize this as well.

So even if an owner wants to slash Cub payroll in 2010, how? DLee is locked in with NTC, Lilly is in his final year, Soriano is locked forever, Fududome has 2 years with NTC, Bradley is locked, Zambrano, Dempster and Ramirez.

No Ricketts knows he is in for a pound through 2010 and that is why Peavy is a big deal, it increases the lock through 2011 when the payroll will be over $100M w/ Peavy, they are over $120M, until 2012 when things finally fall to middle numbers.

They are betting with the pent up demand for tickets and if they can make some hay in the WS in 2009 or 2010 it will sustain their revenue stream even with Depression era economy. To me if I mapped this out by 2011 or 2012 MLB will have gone through two off seasons of contractions where talent will be available and they will probably have reworked the labor agreement by then.

Piniella: "This is a tougher job than I thought it would be, I'm going to be honest with you."

by Ivy Walls on Jan 22, 2009 11:22 PM CST up reply actions  

Depressing Good Times for Cubs

The Cubs did make the World Series in 1932, 1935, and 1938 during the Great Depression. The pennant wins and the economy didn’t have anything to do with each other. I just thought that was a tidbit I would throw out there.

"The big possum walks late." - Harry Caray

by memphiscub on Jan 23, 2009 2:29 PM CST up reply actions  

You're one of the few that believe this

and unfortunately for the country, you’re probably correct. I’m really worrying about total collapse of the US dollar.

The problem with deflation is the Gov’t still continues to print money like we were playing Monopoly. And they even cite deflation like it’s good to print more with deflation. It won’t be an immediate affect as if we were nearing double-digit inflation, it’ll happen later and possibly result with an even bigger thud. And to top it off, the new “stimulus” is what, another $850B? The last one didn’t work, what makes them think it’ll work now. Unfortunately for some 40% out there, it’s really welfare.

I would like to know what the big banks are doing with that cash. They can’t even account for some $350B from one of the previous “bailouts”. Think of the magnitude of that number. It’s 389 times more than what Ricketts is paying for the Cubs, Wrigley & 25% of CSN-Chicago.

Can’t the creditors and/or the judge in the Ch-11 filings somehow delay this? I just can’t help but think Murphy’s Law will somehow creep into this whole thing.

Sweet Lou for Mayor in '11.

by blackhawk24 on Jan 23, 2009 7:52 AM CST up reply actions  

I wonder what the team would have gone for if they pushed this through a year ago

1.1B? Initial bids were reported to be in the billion+ range. Zell might have hurt himself by holding out

churchofbaseball.com

by MJMars on Jan 22, 2009 7:33 PM CST reply actions  

Not sure he held out, per se

The conditions weren’t favorable to Tribune Co. and, while the dollar figure may be lower than the presumed price from a year ago, $900 million is a lot of money in this economy.
May this ownership oversee many, many, many championships.

One day I hope to come up with something worthy of this space.

by chilango2 on Jan 22, 2009 7:45 PM CST up reply actions  

Well, I'm content with this..

Erm, well if we are going to call Milton Bradley nicknames, mine is Fischer Price: yes, you heard it here first..

by Chanman25 on Jan 22, 2009 7:40 PM CST reply actions  

Let me play Devils Advocate...

What reason does anyone have to believe this guy will spend? Sure he has enough dough to make a bid like this, but he could just as easily be a bottom line type of game and see this as an opportunity to further enrich himself, and maybe even flip the team for a profit at some point down the road.

Okay, just so I understand it... in your wildest fantasy, you are in hell. And you are co-running a bed and breakfast with the devil.

by bren on Jan 22, 2009 7:47 PM CST reply actions  

OK, that's fair.

A guy like this, who is from here and a Cubs fan, and made his money elsewhere, wouldn’t put his dollars in a baseball franchise to do as you suggest — enriching himself and flipping the team for profit.

He’d do it because he wants to win, and understands what needs to be done to win.

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

by Al Yellon on Jan 22, 2009 8:12 PM CST up reply actions  

I hope so, I was just making the counter point

Or worst fear would be more apt.

Okay, just so I understand it... in your wildest fantasy, you are in hell. And you are co-running a bed and breakfast with the devil.

by bren on Jan 22, 2009 8:37 PM CST up reply actions  

I understand the fear of the unknown.

But in this case, I think we did good.

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

by Al Yellon on Jan 22, 2009 8:38 PM CST up reply actions  

So is it him or the whole Family?

Someone mentioned this below, but after shelling out 900M, one has to wonder if he would be immediately be willing to sink more into the team

Okay, just so I understand it... in your wildest fantasy, you are in hell. And you are co-running a bed and breakfast with the devil.

by bren on Jan 22, 2009 8:45 PM CST up reply actions  

It's just Ricketts.

Remember, capital budgets where you spend to buy an asset (like the Cubs) are different from budgets set for payrolls. If he wasn’t willing to spend to improve the team, I doubt he’d have bought it in the first place.

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

by Al Yellon on Jan 22, 2009 8:46 PM CST up reply actions  

Ill take your word for it...

I havent been paying attention to all the particulars, just waiting for a winner….but I guess I have an inherent mistrust of Billionaires motives.

Okay, just so I understand it... in your wildest fantasy, you are in hell. And you are co-running a bed and breakfast with the devil.

by bren on Jan 22, 2009 8:48 PM CST up reply actions  

That's written as if it were your opinion, which I'm sure it is and one that I respect.

But I don’t see anything in there that gives us reason to believe this guy will spend, which is what bren was asking for. And farther below, Dr. G is essentially asking the same thing, and you really don’t address his concern about Ricketts, you just slip in a dig on Cuban – again.

So aside from being from here, being a Cubs fan and making his money elsewhere, does he have any kind of track record to indicate he would spend the $ needed to keep the momentum that McDonough & Kenney have created?

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

by ballhawk on Jan 22, 2009 10:56 PM CST up reply actions  

that was my point in playing devils advocate

none of us really know b/c he hasnt owned a professional sports team (has he?)……billionaires like money, and the Cubs are a cash cow, so Mr Ricketts sporting philanthropy can be questioned

Okay, just so I understand it... in your wildest fantasy, you are in hell. And you are co-running a bed and breakfast with the devil.

by bren on Jan 22, 2009 11:03 PM CST up reply actions  

Valid point

The late Carl Pohlad, of the Twins, was by far the richest owner

by TC Cubby on Jan 23, 2009 8:29 AM CST up reply actions  

A solid "meh"

Better than Canning, worse than Cuban

"That’s what I love about my skip, man. He’ll tell you that you suck...I know I suck. We know we suck...Yeah, we suck. But we’ll see who sucks at the end."
- Gary Sheffield

by DrGalazkiewicz on Jan 22, 2009 7:49 PM CST reply actions  

Better than Canning, I agree 100%.

Explain “worse than Cuban”.

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

by Al Yellon on Jan 22, 2009 8:13 PM CST up reply actions  

I'm not convinced that Ricketts wants to win...

I’m not saying that he doesn’t – just that we have no indication of that. Most people from Chicagoland have probably identified themselves as “Cub fans” at some point, but obviously there are different levels of fandom. We don’t know that Ricketts will place winning above the bottom line. From what we’ve seen, I think it’s safe to assume that Cuban would have.

"That’s what I love about my skip, man. He’ll tell you that you suck...I know I suck. We know we suck...Yeah, we suck. But we’ll see who sucks at the end."
- Gary Sheffield

by DrGalazkiewicz on Jan 22, 2009 8:48 PM CST up reply actions  

Why are you assuming Ricketts wouldn't?

That seems to be your impression of anyone but Cuban.

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

by Al Yellon on Jan 22, 2009 8:50 PM CST up reply actions  

I'm not, but you seem to assuming that he would.

We’ll just have to wait and see. We know that Cuban wants to win.

"That’s what I love about my skip, man. He’ll tell you that you suck...I know I suck. We know we suck...Yeah, we suck. But we’ll see who sucks at the end."
- Gary Sheffield

by DrGalazkiewicz on Jan 22, 2009 8:53 PM CST up reply actions  

And, to date, hasn't.

I’ll take my chances with Ricketts.

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

by Al Yellon on Jan 22, 2009 8:55 PM CST up reply actions  

Not a championship...

but his teams have been over .500 in each of the nearly ten seasons since he bought the team. He’s been a huge upgrade over the prior ownership (Perot Jr.) and he has taken them to the Finals.

Really Al, I’m not blasting Ricketts, as I admittedly know next to nothing about him. I’m just surprised that you prefer him over Cuban. It seems that you dislike Cuban because he has a huge ego, is a shameless self-promoter, etc. So what? These traits could motivate him to help assemble a World Series champion.

"That’s what I love about my skip, man. He’ll tell you that you suck...I know I suck. We know we suck...Yeah, we suck. But we’ll see who sucks at the end."
- Gary Sheffield

by DrGalazkiewicz on Jan 22, 2009 9:10 PM CST up reply actions  

If I could, I would go back in time and force George Steinbrenner to buy the Cubs...

and I would be totally OK with his huge ego, shameless self-promotion, etc.

And we would probably have at least 4 WS trophies by now.

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

by santoswoodenlegs on Jan 22, 2009 10:38 PM CST up reply actions   1 recs

They could, but...

… I think the idea that Cuban was or is the ONLY person who could make the Cubs a winner is wrong.

I think we’ll all be very happy with Tom Ricketts as owner. See the front page for a quote from him.

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

by Al Yellon on Jan 23, 2009 4:28 AM CST up reply actions  

Well, who was saying that? ("Cuban was or is the ONLY person...")

Certainly not me, bren or Dr. G, and as far as I can tell, no one else in this thread. I’m not denying that there are probably some die-hard Cuban supporters in BCB-land and I’m sure there were thoughts expressed along those lines at some point, but not here and not now. It’s like Cuban was your white whale or something…

I think we’re all pretty happy that Ricketts is (or looks to be) the winning owner. And I hope we continue to be happy with the results of his efforts for a long time.

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

by ballhawk on Jan 23, 2009 7:55 AM CST up reply actions  

I agree.

No, no one in THIS thread said that about Cuban. But it was my impression that some did think that way.

In any case, as long as Ricketts is willing to spend, I think we are in very good hands.

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

by Al Yellon on Jan 23, 2009 8:13 AM CST up reply actions  

Agreed

now everyone go out and open a TD Ameritrade account! ;-)

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

by ballhawk on Jan 23, 2009 8:44 AM CST up reply actions  

and yes, I know Tom is not part of the TD Ameritrade side of the family

but having family support in trying times is always a good thing, so indirectly you’d be helping out the new owner.

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

by ballhawk on Jan 23, 2009 8:49 AM CST up reply actions  

White Whales

Imagine if Cuban hit lefthanded . . . .

Facts are meaningless. You could use facts to prove anything that's even remotely true! --Homer J. Simpson

by Shanghai Badger on Jan 23, 2009 10:59 AM CST up reply actions  

Agreed

I wasn’t implying that Cuban is a necessity.

If all this is really true about Ricketts living across from Wrigley and meeting his wife in the bleachers, then I feel more optimistic.

"That’s what I love about my skip, man. He’ll tell you that you suck...I know I suck. We know we suck...Yeah, we suck. But we’ll see who sucks at the end."
- Gary Sheffield

by DrGalazkiewicz on Jan 23, 2009 7:43 PM CST up reply actions  

he would have if not for terrible terrible and mean terrible officiating

vs. the heat.

"I played with one of the best pitchers in history, Greg Maddux," Zambrano said"

by fischisgod on Jan 22, 2009 9:45 PM CST up reply actions  

True, but he's been out of it for a while now

Maybe there will be some sort of 11th hour bid by him, but his last public stance seemed to indicate he wasnt going to be the top bidder anyhow.

I do share your concerns though….i think its only natural after the spending we’ve seen the past few years to worry that it will stop and we’ll be penny pinched

Okay, just so I understand it... in your wildest fantasy, you are in hell. And you are co-running a bed and breakfast with the devil.

by bren on Jan 22, 2009 8:51 PM CST up reply actions  

That's not a valid assumption.

You’re talking about two different entities — Tribune and Ricketts. What one spends or has spent has nothing to do with what the other will spend in the future.

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

by Al Yellon on Jan 22, 2009 8:52 PM CST up reply actions  

I wasnt suggesting there was a connection

simply that, as fans weve grown accustomed to this level of spending, so the fear that the new owner will be more concerned with making money is relevant b/c there are many owners like that accross the sporting world

Okay, just so I understand it... in your wildest fantasy, you are in hell. And you are co-running a bed and breakfast with the devil.

by bren on Jan 22, 2009 8:58 PM CST up reply actions  

Did Zell

Make more than $200k in the process of holding them an additional yer? If so the $900k more than $200k in revenue from the Cubs/WF/CSN would have been a net gain still.

"I like coconuts, you can break them open and they smell like ladies lying in the sun" Widespread Panic

by Cubbie-Tim on Jan 22, 2009 7:50 PM CST reply actions  

If the club including Wrigley Field was worth $1B one year ago...

…then the depreciation is 10%. About par for the course I would think.

"Just win tonight" - derv

by derv on Jan 22, 2009 8:01 PM CST up reply actions  

except for the fact that

sports teams, as a general rule do not depreciate. Assets in general might, but sports teams do not. Rarely do you see a team sell for less than the previous purchase price. Granted, there is real estate involved here, and a difficult economic climate, but I would say that zell would have been better off acting quickly if possible.

"Enough foreplay- let's get crackin'"- Fred Garvin

by davidalanu on Jan 23, 2009 4:01 PM CST up reply actions  

Slight difference...

It’s $200M, not $200k. And I’d be surprised if the Cubs made a $200 million net profit over the last year. If so, they shouldn’t be quibbling over $5-10 million in budget for next year.

by SouthernCub on Jan 23, 2009 12:58 PM CST up reply actions  

I was wondering why you took it down.

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

by Al Yellon on Jan 22, 2009 8:12 PM CST up reply actions  

It didn't seem to be well received...

…and really after I thought about it, it didn’t really tell us anything newsworthy.

"Just win tonight" - derv

by derv on Jan 22, 2009 8:17 PM CST up reply actions  

Thanks.

I just wondered what happened to it.

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

by Al Yellon on Jan 22, 2009 8:37 PM CST up reply actions  

well

just get it freakin’ done, and get approval to do something more than three minor league pitchers for Mark DeRosa..

"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 Jan 22, 2009 7:59 PM CST reply actions  

I'm disappointed

Earlier today I was reading somewhere that the Cubs were going to be given away, as a promotion, to a group of 12 fans. How could things have changed so fast?

"One thing I do know is teams like a lot of our pieces. That's not to say they want to give us a lot of players in return, but I know they like a lot of our pieces." - John Paxson (1/21/09)

by Juiceboxjerry on Jan 22, 2009 8:33 PM CST reply actions  

Read the quote from the Sun-Times article again.
Tribune is not locked in to negotiate only with one bidder. Others remain free to enrich their offers.

The 12 fans still have a chance!

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

by Al Yellon on Jan 22, 2009 8:37 PM CST up reply actions  

I say we all pitch in

and buy them, adn remane the BCB CUBS

set up a paypal Al for our group donation to but the team

"I like coconuts, you can break them open and they smell like ladies lying in the sun" Widespread Panic

by Cubbie-Tim on Jan 22, 2009 8:40 PM CST up reply actions  

OK!

Who’s making the first donation?

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

by Al Yellon on Jan 22, 2009 8:44 PM CST up reply actions  

I am willing

to auction my kidney on Ebay if needed

"I like coconuts, you can break them open and they smell like ladies lying in the sun" Widespread Panic

by Cubbie-Tim on Jan 22, 2009 8:45 PM CST up reply actions  

How about we auction off santoswoodenlegs?

damn that finicky spacebar key… ;-)

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

by ballhawk on Jan 22, 2009 11:00 PM CST up reply actions  

ahhh, I missed that part, nice catch;)

"One thing I do know is teams like a lot of our pieces. That's not to say they want to give us a lot of players in return, but I know they like a lot of our pieces." - John Paxson (1/21/09)

by Juiceboxjerry on Jan 22, 2009 8:42 PM CST reply actions  

damn, meant to hit reply

"One thing I do know is teams like a lot of our pieces. That's not to say they want to give us a lot of players in return, but I know they like a lot of our pieces." - John Paxson (1/21/09)

by Juiceboxjerry on Jan 22, 2009 8:43 PM CST up reply actions  

Al-I think he already "opened up his wallett", to the tune of

$900m. Now he’s going to find some ways (PSL), to get some back

Dallas Green!

by SonnyJ9 on Jan 22, 2009 8:42 PM CST reply actions  

We'll see.

First up before PSL’s, I think, will be a Cubs TV network.

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

by Al Yellon on Jan 22, 2009 8:45 PM CST up reply actions  

That's really an inportant part of this

I hope that this Ricketts fellow has as much interest in a Cubs network as Utay did. That is the next major step towards truly being on the Yankees/Red Sox level.

"One thing I do know is teams like a lot of our pieces. That's not to say they want to give us a lot of players in return, but I know they like a lot of our pieces." - John Paxson (1/21/09)

by Juiceboxjerry on Jan 22, 2009 8:48 PM CST up reply actions  

Well how much would that cost him?

thats gotta be a lot of overhead

Okay, just so I understand it... in your wildest fantasy, you are in hell. And you are co-running a bed and breakfast with the devil.

by bren on Jan 22, 2009 8:49 PM CST up reply actions  

True.

But the revenue you can derive from such a network would pay for itself many times over, and pretty rapidly.

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

by Al Yellon on Jan 22, 2009 8:51 PM CST up reply actions  

is WGN part of the sale?

"I like coconuts, you can break them open and they smell like ladies lying in the sun" Widespread Panic

by Cubbie-Tim on Jan 22, 2009 8:55 PM CST up reply actions  

No.

I don’t know how long WGN’s contract with the Cubs runs. Until they can get a Cubs TV network on the air (if they choose to go that way), I think they’d keep at least some games on WGN.

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

by Al Yellon on Jan 22, 2009 8:56 PM CST up reply actions  

my best guess is that MLB will revamp all broadcast programs after the inevitable contraction

MLB.tv is actually what Einhorn envisioned back in the early 80’s but it would actually take an aggregator to pull it off.

I can see a weekend local game of the week for marketing awareness and another cable game or two per week, but essentially some form of pay per view subscription over the Internet and cable/satellite.

It is a revenue stream they will need but not at the prices they are getting.

Piniella: "This is a tougher job than I thought it would be, I'm going to be honest with you."

by Ivy Walls on Jan 22, 2009 9:46 PM CST up reply actions  

Inevitable contraction?

I would say a rellocation is more likely, the league as a whole appears to be financially sound, but I would think one of the Florida teams moving would happen before an out and out contraction

Okay, just so I understand it... in your wildest fantasy, you are in hell. And you are co-running a bed and breakfast with the devil.

by bren on Jan 22, 2009 11:05 PM CST up reply actions  

really?

SD is not healthy at all having to slash payroll from $45M to under $40M to make a cash call.

D-Backs laid off employees in Nov and their payroll is being dropped from $63M.

LAA, SEA and Atlanta lost money last year.

Batt, Cinc, Pitt, Det, Tex, KC and the Chisox all barely had a gross profit in the safety zone. No wonder Chisox have been selling this off season.

Actually I am not too worried of the FL teams who have learned to live on $20-$30M payrolls. There will be other surprises like SF or Clev who will show some distress. And then there are the NY teams, they built but maybe a few years late.

Piniella: "This is a tougher job than I thought it would be, I'm going to be honest with you."

by Ivy Walls on Jan 22, 2009 11:51 PM CST up reply actions  

Hmm

Well I would imagine that baseball as a whole would do what they have to to keep some of those guys afloat- I would have to see some numbers to believe that those teams are losing money….on the face, I wouldnt believe it

SDs owners divorce plays a large roll in the reduction of payroll, so Im sure we’ll see plenty of teams reducing costs, but out and out contraction, on the level youre talking, seems a longshot to me. It would be bad for the league on a number of levels

Okay, just so I understand it... in your wildest fantasy, you are in hell. And you are co-running a bed and breakfast with the devil.

by bren on Jan 23, 2009 9:14 AM CST up reply actions  

Don't See Contraction or Expansion

There hasn’t been a major pro sports franchise (not counting WHA franchises) to go out of existence since the Cleveland Barons merged with the Minnesota North Stars in 1978. Contracting shows that your sport is weak and dying. There are teams in trouble, but I don’t see them going under.

Also, I don’t see MLB expanding any time in the next decade. There are enough teams already.

"The big possum walks late." - Harry Caray

by memphiscub on Jan 23, 2009 2:57 PM CST up reply actions  

Inevitable contraction, my butt

the Rays, who quite possibly would have been one of the teams contracted if MLB had had it’s way during the last labor negotiations, have clearly shown that a small market team can compete. There is zero chance that the union, or a court for that matter, would approve contraction. To say that contraction is inevitable is beyond ridiculous.

Next premise, please…

"Enough foreplay- let's get crackin'"- Fred Garvin

by davidalanu on Jan 23, 2009 4:23 PM CST up reply actions  

Ricketts

My Dad has done some business with Tom Ricketts. This is not the group he might have had a chance to be part of but he says this is a great day for the Cubs.

Barbara V. October 14, 1941 - December 19, 2008. A great lady who was a friend to all and like a second mom to her children's friends (she was my best friend's mom)

by puckishcubsfan on Jan 22, 2009 8:49 PM CST reply actions  

Are you implying your Dad wanted to buy the Cubs?

Okay, just so I understand it... in your wildest fantasy, you are in hell. And you are co-running a bed and breakfast with the devil.

by bren on Jan 22, 2009 8:53 PM CST up reply actions  

My Dad had a chance to have a very small percentage of a group in the early process. It would have been about 2-3 percent.

He has a medium sized company and is one of those people if you’re in the business he’s in you know who he is.

Barbara V. October 14, 1941 - December 19, 2008. A great lady who was a friend to all and like a second mom to her children's friends (she was my best friend's mom)

by puckishcubsfan on Jan 23, 2009 6:45 AM CST up reply actions  

wow that wouldve been awesome

Okay, just so I understand it... in your wildest fantasy, you are in hell. And you are co-running a bed and breakfast with the devil.

by bren on Jan 23, 2009 9:08 AM CST up reply actions  

It's going to take a little time for the idea of new owner to sink in

The Cubs really have had only three owners during the past 100 years (Weegham, Wrigley, Tribune) where other franchises seem to change owners every few years.

Old Style is the nectar of life.

by Mordecai on Jan 22, 2009 9:56 PM CST reply actions  

Couple of thoughts

1. I am pretty happy about this. There is something to be said about someone who is filthy rich and grew up in CHicago and is a Cubs fan owning the Cubs. I am not expecing a huge bump in payroll. I would be happy with say a 20 million bump over a couple years but i feel it will come. You dont sink that much money into a team to say screw it the drunks will show up anyway.

2. I feel owning the cubs is a bit like playing for the Cubs. There are few things that can make you a god among men and one of the things that really intrigues people is being able to say I BROUGHT A WORLD SERIES TO THE CHICAGO CUBS!!! I feel that if we win one with him as the owner then he will be the most beloved Chicagoan of all time up there with the Daley family, Chicagos First President and the Reinsdorf clan (Even if you ahte the sox we got spoiled by 6 world championships and we could have swept the 90’s if Jordan didnt retire) I think that he would go to the top of th elist.

3. i hope he keeps Kenny on board. I think that Crane has done a grat job and i can tell that he cares a ton about the organization and wants to do everything in his power to giv us every possible resource to compete. I really respect the job him and McDonugh have done over the past couple years.

4. I hope he is a John Henry type of owner. Pay the bills sit in the luxury box give the team the resources to compete and let the people he hired to manage the baseball operations manage the baseball operations. Speaking of resources….

5. Implement PSL’S under the condidtion that the money from all PSL’s goes directly to team payroll. I know this might not be popular but for the right to have season tickets i believe there maybe should be a fee. There is only so much revenue you can get out of an old stadium like Wrigley Field and this would be one way to bring a tremendous amount of revenue in. With the season ticke waiting list so long there would be no problem getting the seats filled and it would improve the ballclub I believe. My only problem is that the PSL’s would lead to markups on all seats which i get on a game by game basis.

6. Follow the Red Sox organizational model. Put as much freaking advertising around Wrigley as possible, and get every dollar you can out of it. The Sox have put ads all over fenway and everyone still loves it. After the initital shock and awe factor almost all will be cool with it.

7. Sell the naming rights. People dont want a corporate sponsor, BUT WRIGLEY FIELD is a corporate sponsor. Either make them pay for it or give someone else achance. Hell do it like the Bears did. Soldier Field presented by Chase or wahtever it is.

8. Retire Sosa’s number. I was thinking about the Bush Presidency in retrospect the other day during the innaguration and I ultimately thought about 9/11. The first two things i thought about were Bush throwing the strike during the World Series and Sammy Sosa after hitting the home run the game after we played again Running around the Bases with an American Flag. That brought tears to my eyes even thinking about it as i write about it makes me smile. Sosa was the face of the CUBS for so long. He had one really bad day in however long he was here. He did so much for the team ad the city when he was here. He deserves it.

9. One last thing- Go get jake Peavy now. I hope to see him aboard soon. but i really really really dont want to give up Vitters. 14th best prospect in basbeall according to Law. But if thats what it takes then thats what it takes.

10. Go Cubs

"I played with one of the best pitchers in history, Greg Maddux," Zambrano said"

by fischisgod on Jan 22, 2009 10:01 PM CST reply actions  

A lot of thoughts, and I agree with a lot, but....

Retire a number because of one moment in time?

Hank Sauer was once the face of the Cubs. Does he get his # retired? Dave Kingman?

Facts are meaningless. You could use facts to prove anything that's even remotely true! --Homer J. Simpson

by Shanghai Badger on Jan 23, 2009 6:26 AM CST up reply actions  

Thats not the only reason

I was just thinking about that the other day and how much it lifted me up.

"I played with one of the best pitchers in history, Greg Maddux," Zambrano said"

by fischisgod on Jan 23, 2009 8:47 AM CST up reply actions  

I know, but the face of the Cubs isn't enough for me, either

That’s why I referenced the others.

One thing the fan that got booed at the business management session on Sunday had right, though — the Cubs marketed the hell out of Sosa, then preteneded like he never existed. They handled the exit very poorly.

Facts are meaningless. You could use facts to prove anything that's even remotely true! --Homer J. Simpson

by Shanghai Badger on Jan 23, 2009 11:01 AM CST up reply actions  

have Sosa's former teammates vote

I think they’d disagree about retiring his number.

by dmlichte on Jan 23, 2009 12:51 PM CST up reply actions  

C'mon

Grace would be in the front of the line saying to retire his number………….

"I like coconuts, you can break them open and they smell like ladies lying in the sun" Widespread Panic

by Cubbie-Tim on Jan 23, 2009 2:03 PM CST up reply actions  

disagree re: Crane Kenny

he has shown a willingness to be an embarrassment. While he has seemingly no baseball knowledge he hasn’t been the least bit shy about jumping into the Cubs spotlight. He has been perhaps a necessary annoyance during the transition, but hopefully he goes away very soon.

"Enough foreplay- let's get crackin'"- Fred Garvin

by davidalanu on Jan 23, 2009 4:29 PM CST up reply actions  

Disagree

Kenney has stick his foot in it a couple of times, but he knows baseball.

Facts are meaningless. You could use facts to prove anything that's even remotely true! --Homer J. Simpson

by Shanghai Badger on Jan 24, 2009 4:53 PM CST up reply actions  

I can see the Sports Illustrated Cover right now...

Best Rotation of the Century?

Harden Zambrano Peavy Dempster and Lilly primed to win 20 each would be the subtitle.

Anquan Boldin please?

by ARAM FOR MVP on Jan 22, 2009 10:12 PM CST reply actions  

Title

" 5 Aces"

All with an Ace in their hand, 5th ace has a Harry Carey Logo

by MrShowtime on Jan 22, 2009 10:22 PM CST up reply actions  

Well, let's hope they turn out better than the "Four Aces"

Remember them? Oakland A’s, early 90’s.

Don Peters, Dave Zancanaro, Kirk Dressendorfer, and the aceiest of them all, Todd Van Poppel.

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

by ballhawk on Jan 22, 2009 11:12 PM CST up reply actions  

Or

The Cubs Five Aces a few years ago

Wood
Prior
Zambrano
Clement
Maddux

"I like coconuts, you can break them open and they smell like ladies lying in the sun" Widespread Panic

by Cubbie-Tim on Jan 23, 2009 8:28 AM CST up reply actions  

Don't depress me.

Only Z and Maddux pitched the whole season.

"I am not ashamed to say I love Greg Maddux" - Jim Hendry

by Doggie Stalker on Jan 23, 2009 9:28 AM CST up reply actions  

It still

saddens me to think of that rotation the let down of the entire season

"I like coconuts, you can break them open and they smell like ladies lying in the sun" Widespread Panic

by Cubbie-Tim on Jan 23, 2009 9:37 AM CST up reply actions  

Rickett's Quote

"My family and I are Cubs fans," said Tom Ricketts, the family’s point person in the Cubs purchase, in the statement. "We share the goal of Cubs fans everywhere to win a World Series and build the consistent championship tradition that the fans deserve."

by Clutche on Jan 22, 2009 10:13 PM CST reply actions  

I posted this on the front page.

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

by Al Yellon on Jan 23, 2009 4:29 AM CST up reply actions  

WOW,,,SOUNDS LIKE

a winner for all things cub and of course us the fans . This sale seems to have dragged on forever ….We are all ready for MESA then Wrigley and a winning season ..Go Cubs 09

by cubs north on Jan 22, 2009 10:23 PM CST reply actions  

I'm glad a Cubs fan won (I think he did at least)

I was worried the winner would be a business man with no interest in the team and was all about making money and less about winning.

Bleeding Cubbie Blue since 1985.

by Bricks and Ivy on Jan 22, 2009 11:12 PM CST reply actions  

If this is finalized

and I don’t foresee a problem with that, this will be fantastic for both the team and the fans. The Ricketts family is an extremely loyal family to their employees. My wife used to work for Ameritrade when i was stationed at Offutt AFB just outside of Omaha. We both watched Joe (the father) take a small online stock trading company and turn it into a powerhouse holding and trading company. The Ricketts had a chance to sell the company several times for huge profits. They didn’t and the company continued and continues to thrive. I think we’ll see more of the same with the ownership of the Cubs. They are fans of the team and want to see the team win for emotional reasons. They are also very shrewd businessmen. They want the team to win for financial reasons. They will continue to put money into the team knowing that is an investment in the future that will pay both financial dividends and hopefully bring a championship back to its rightful place on the north side.

Time is an illusion--lunch time doubly so.

by snowyman28 on Jan 23, 2009 12:01 AM CST reply actions  

Sounds perfect to me.

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

by Al Yellon on Jan 23, 2009 4:29 AM CST up reply actions  

All I want is

the return of the 25 cent Frosty Malt

by Employee22 on Jan 23, 2009 12:58 AM CST reply actions  

Just saw this on MSNBC

This was posted this morning(overnight your time)……

http://nbcsports.msnbc.com/id/28801359/

Souds like they’ve made it official

by nmcubsfan on Jan 23, 2009 2:27 AM CST reply actions  

Not quite.

Quote from the article:

Ricketts must reach an agreement with Tribune Co., which filed for bankruptcy protection last month. While the Cubs and Wrigley Field were not included in the bankruptcy filing, a sale likely will have to be approved by the creditors’ committee and possibly a bankruptcy judge.

In addition, a sale must be approved by baseball owners.

I don’t think any of this is going to be a problem, but it’s not quite 100% done yet.

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

by Al Yellon on Jan 23, 2009 4:39 AM CST up reply actions  

Oops

My bad, I saw that article, thought maybe I’d post it after reading this post…

by nmcubsfan on Jan 23, 2009 4:44 AM CST up reply actions  

No worries.

The MSNBC article did have useful info.

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

by Al Yellon on Jan 23, 2009 4:47 AM CST up reply actions  

At last!

I just hope new ownership spends what it must and manages the team wisely. I’m glad the new principal owner is a fan. I just hope he lets the baseball people in management do their jobs.

by Fraggin Judge on Jan 23, 2009 7:01 AM CST reply actions  

My guess is that he will.

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

by Al Yellon on Jan 23, 2009 7:35 AM CST up reply actions  

Omaha Cubs?

Vast speculation here, but the Ricketts family has its base in Omaha. The city is currently building a new downtown stadium for the college world series, to replace the one the AAA Omaha Royals currently play in.

The Royals are playing hardball, due to a sweetheart lease in the current stadium, and are trying to build a smaller stadium outside of the city in a different county.

I have my fingers crossed that the Ricketts family, heavily politically involved in the area, may try to bring the Iowa Cubs a couple miles west on I-80 to play in the hometown.

Anyone see this as possible?

by slink on Jan 23, 2009 7:47 AM CST reply actions  

No

The Iowa Cubs are an institution that will not be messed with. The Cubs largely own the Iowa fan market for major league baseball. It would be a bad mistake to piss on that equation by moving out of Des Moines and ticking off a state full of people.

by BLou on Jan 23, 2009 7:50 AM CST up reply actions  

Well

Ricketts is also the leading candidate to purchase the naming rights for this new stadium.

http://www.omaha.com/index.php?u_page=2798&u_sid=10355023

Wouldn’t it make sense to have the Cubs AAA minor league affiliate play in the stadium named for the company that the owners built? Outlandish at first, as the Iowa Cubs HAVE done very well in Des Moines. But it’s no secret that the Omaha Royals are in the market to leave the city of Omaha, currently looking at a county adjacent the Omaha metro and previously hoping to have a stadium built for them in Sugarland, TX (which failed on a ballot).

Maybe they swap franchises with Des Moines.

by slink on Jan 23, 2009 8:09 AM CST up reply actions  

It's possible.

Des Moines is close enough to Kansas City that it would be suitable for their AAA franchise.

I don’t know how long both the Omaha and Iowa affiliate agreements run, but it could happen.

Remember, though, that Tom Ricketts is the bidder, and he lives in Chicago. It’s other family members who live in Omaha. Those relatives are NOT involved in this bid.

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

by Al Yellon on Jan 23, 2009 8:14 AM CST up reply actions  

To be honest

This is all just wishful thinking from a displaced Cubs fan. My annual attendance of Omaha Royals games averages <0. It’d go up a bit if this little scenario played out.

Normally, I’d say no chance, but with the Ricketts political involvement in Nebraska and the City of Omaha, I’d say they may be willing to do the city a favor. The city is more than ready to give a big up yours to the Royals with their actions towards the new stadium. This would be a hell of a way to do it.

If it happened, it’d have to happen relatively quick. Ground has been broken for the stadium just this week, and is scheduled to be completed by Spring 2011. Currently, there are no tenants other than the College World Series and possibly Creighton Baseball, a local university.

Clearly, the Royals at least are prepared for a change in venue.

by slink on Jan 23, 2009 8:24 AM CST up reply actions  

Just to repeat.

Tom Ricketts lives in Chicago. The Omaha branch of the Ricketts family is NOT involved in the Cubs transaction.

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

by Al Yellon on Jan 23, 2009 8:25 AM CST up reply actions  

Hey

It’s all in the family.

by slink on Jan 23, 2009 8:34 AM CST up reply actions  

Half true

The Ricketts family built a business dynasty, to include TD Ameritrade. While Tom Ricketts is the front-man purchasing the Cubs, make no mistake the transaction is being funded and secured with family money. And since Tom Ricketts has never really built or led anything purely on his own throughout his young career I would expect the family to be relatively active participants in the strategic management of the Cubs.

by BLou on Jan 23, 2009 8:35 AM CST up reply actions  

What proof do you have of your claim?

I have NOT heard any of this.

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

by Al Yellon on Jan 23, 2009 8:37 AM CST up reply actions  

There's no proof

But I beleive the family derived much of their wealth from the success of Ameritrade, based out of Omaha. It is where the family is from, including Tom at some point.

I don’t think his brother Pete of Father will have any public face of involvement with the Cubs, but their slices of wealth all come from the same pie.

by slink on Jan 23, 2009 8:50 AM CST up reply actions  

Not all of it.

Tom Ricketts has his own investment company, from which a fair amount of his wealth derives.

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

by Al Yellon on Jan 23, 2009 8:52 AM CST up reply actions  

Also from a quote in your main post:

“My family and I are Cubs fans,” said Tom Ricketts, the family’s point person in the Cubs purchase, in the statement. “We share the goal of Cubs fans everywhere to win a World Series and build the consistent championship tradition that the fans deserve.”

by slink on Jan 23, 2009 8:54 AM CST up reply actions  

Point taken.

Still, I think that means that Tom Ricketts is the guy they’re going to, and the rest of the family stays in the background.

Or, it could mean that the NY Times (from where I pulled that specific quote) got it wrong.

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

by Al Yellon on Jan 23, 2009 9:17 AM CST up reply actions  

Incorrect

The Ricketts family is ALL part of the ownership. Tom is just the front man.

I have to admit, reading through this thread is hilarious. Only Ivy Walls seems to have a grasp on the facts and does not rely on strawmen to make his points.

http://www.chicagobusiness.com/cgi-bin/news.pl?id=32716

(Crain’s) — An investment group led by Thomas Ricketts has emerged as the winning bidder in Tribune Co.’s auction of the Chicago Cubs.

“The Tribune Company has informed us today that our family has been selected for exclusive negotiations to buy the Chicago Cubs,” said a statement from the Ricketts family, released Thursday evening.

by Ivychat on Jan 23, 2009 1:53 PM CST up reply actions  

+1

As a Cub fan, he (should) understand and respect tradition. I can see maybe A or AA but not Iowa AAA being moved to Omaha.

"I like coconuts, you can break them open and they smell like ladies lying in the sun" Widespread Panic

by Cubbie-Tim on Jan 23, 2009 8:30 AM CST up reply actions  

The Cubs AAA team when I grew up was in Wichita

Des Moines has been great for the cubs, but things change.

"Enough foreplay- let's get crackin'"- Fred Garvin

by davidalanu on Jan 23, 2009 4:36 PM CST up reply actions  

The best possible ownership situation for the Cubs

I am pleased that the Ricketts won out. They are a well-respected family that has been a business empire in a manner that is honest and applaudable.

A new owner WILL want to put their own stamp on things. So it will be interesting to see how the next year plays out. I would expect that Crane Kenney will be moving on relatively soon after the sale becomes official. At some point thereafter we should get a sense of what type of payroll structure Tom Ricketts is going to find acceptable. Also, I am keenly interested to know his vision for the reconstruction of Wrigley Field.

by BLou on Jan 23, 2009 7:48 AM CST reply actions  

Don't be so sure about Crane Kenney.

He could be retained by Ricketts as CEO, with Ricketts becoming chairman. Kenney has done a good job; why change now?

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

by Al Yellon on Jan 23, 2009 8:15 AM CST up reply actions  

Well...

It seems to me that leading and operating the Cubs will be a full-time job for Tom Ricketts. He doesn’t play an active management role in TD Ameritrade. In fact, the last few years he’s been loosely dabbling and participating in a variety of things. So I’m guessing he becomes active and engaged in running the Cubs. Much the same way Jerry Reinsdorf is with the White Sox and Bulls.

I don’t see a seat at the table for Kenney. And I think Kenney is a bright and ambitious enough guy where he will decide to take on a new gig somewhere else. He still lives in the shadow of Andy McPhail and John McDonough to a degree with the Cubs. Time to go plow his own earth.

by BLou on Jan 23, 2009 8:31 AM CST up reply actions  

Tom Ricketts has his own business to run...

… he’s not part of TD Ameritrade. Why he’d want to “lead and operate” a business that he has no knowledge of doesn’t make sense.

I expect him to become Chairman and the ownership face of the franchise, with Kenney running day-to-day operations as team president.

We’ll see.

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

by Al Yellon on Jan 23, 2009 8:38 AM CST up reply actions  

Personally, I wouldn't let Crane Kenney near a mircophone

if he stays with the organization. That’s where he’s gotten himself into trouble.

Hey, it's a new century!

by cowsarecool220 on Jan 23, 2009 10:07 AM CST up reply actions  

Point taken.

He can just do his job behind the scenes and let Ricketts talk.

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

by Al Yellon on Jan 23, 2009 10:16 AM CST up reply actions  

Anyone know how old Tom Ricketts is???

Not that it really matters – just curious.

I can’t even find a picture of him. I also heard “his” worth (maybe the family pool) is approx $2.6B, Cuban has $1.8B and (for comparison) Steinbrenner has $1.3B.

"In theory there is no difference between theory and practice. In practice there is." - Yogi Berra

by wrigley's ivy on Jan 23, 2009 9:20 AM CST reply actions  

Thomas (Tommy) Ricketts

Thomas (Tommy) Ricketts VC (April 15, 1901 – February 10, 1967) was a Newfoundlander and was the youngest recipient of the Victoria Cross, the highest and most prestigious award for gallantry in the face of the enemy that can be awarded to British and Commonwealth forces, in the British Army

"I like coconuts, you can break them open and they smell like ladies lying in the sun" Widespread Panic

by Cubbie-Tim on Jan 23, 2009 9:40 AM CST up reply actions  

Photo of Tom Ricketts.

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

by Al Yellon on Jan 23, 2009 10:18 AM CST up reply actions  

Tom Rocketts

Thomas “Tom” Ricketts (15 January 1853 – 20 January 1939) was an English American silent film actor, director and screenwriter who was involved in almost 350 motion pictures.

ohh….the “other” Tom Ricketts

"I like coconuts, you can break them open and they smell like ladies lying in the sun" Widespread Panic

by Cubbie-Tim on Jan 23, 2009 9:39 AM CST reply actions  

ok, ok, the Tom Rocketts we care about knowing

http://people.forbes.com/profile/thomas-s-ricketts/76834

Thomas S. Ricketts
 Director
TD Ameritrade Holding Corporation
Omaha , NE
Sector: FINANCIAL / Investment Brokerage – National
 
43 Years Old
Thomas S. Ricketts is the chairman and chief executive officer of Incapital LLC, a company he co-founded in 1999. Incapital is a technologically-oriented investment bank focused exclusively on the underwriting and distribution of fixed income products to individual investors. Incapital underwrites for several major U.S. corporations through its InterNotesSM product platform. From 1996 to 1999, Mr. Ricketts was a vice president and an investment banker for the brokerage division of ABN AMRO. From 1995 to 1996, he was a vice president at Mesirow Financial. From 1988 to 1994, Mr. Ricketts was a market maker on the Chicago Board Options Exchange. Mr. Ricketts holds an M.B.A. and a B.A. from the University of Chicago. Thomas S. Ricketts is the son of J. Joe Ricketts and the brother of J. Peter Ricketts, each of whom serves as a director of the Company.

"I like coconuts, you can break them open and they smell like ladies lying in the sun" Widespread Panic

by Cubbie-Tim on Jan 23, 2009 9:42 AM CST reply actions  

Note that bio says...

… his connection with Ameritrade is simply as a board member. His professional life has been with other companies.

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

by Al Yellon on Jan 23, 2009 10:18 AM CST up reply actions  

I would like the Ricketts to take a close look

at the changes Arte Moreno implemented when he purchased the Angels. He lowered some prices of concessions and souvenirs and ended up making more money due to the increase in volume of purchases.

Here’s an interesting article about the changes Moreno implemented:
LINK

Hey, it's a new century!

by cowsarecool220 on Jan 23, 2009 10:46 AM CST reply actions  

900 Million

Man, I could guy a lot of pickles with 900 million.

by TheHawkRules on Jan 23, 2009 11:06 AM CST reply actions  

please dont guy me with any pickles

"I like coconuts, you can break them open and they smell like ladies lying in the sun" Widespread Panic

by Cubbie-Tim on Jan 23, 2009 11:08 AM CST up reply actions  

twss

"Truth does not do as much good in the world as the semblance of truth does evil," - Duc de La Rochefoucauld, Maxims, 64.

by Emelie on Jan 23, 2009 2:55 PM CST up reply actions  

Do you have something to announce to the group?

A new addition to the family, perhaps?

Hey, it's a new century!

by cowsarecool220 on Jan 23, 2009 11:08 AM CST up reply actions  

LMAO

ummmm…NO!

"I like coconuts, you can break them open and they smell like ladies lying in the sun" Widespread Panic

by Cubbie-Tim on Jan 23, 2009 2:03 PM CST up reply actions  

Interesting Financial Tidbit
The Ricketts bid was believed to have won out thanks to its inclusion of some 50% of the purchase price in cash, while other offers included more debt, according to the Journal.

From Marketwatch

Anyone with that much cash in hand given the current financial crisis possibly will not have many issues keeping the payroll at the current level. Hopefully he will have enough capital to start on some more renovations at Wrigley in the near future as well.

by Qixotl on Jan 23, 2009 11:33 AM CST reply actions   1 recs

Rec'd

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

by Al Yellon on Jan 23, 2009 1:52 PM CST up reply actions  

PSL's

I bet PSL’s won’t be far behind..

The journey is the reward!

by wicubfan on Jan 23, 2009 11:49 AM CST reply actions  

Ricketts overpaid.

How could the Cubs go for $900 million when John Henry bought the Red Sox in 2002 for almost the same amount? The Red Sox were perennial contenders who always fielded good teams. Granted they hadn’t won a WS since 1918. However, the teams were always competitive and had a cult following similiar, if not greater than the Cubs. Throw in the current economic evironment and the sale price becomes even more bloated.

"Hey-Hey! Home Run! Attaboy Ronnie!" ~ Jack Brickhouse

by ronsanto10 on Jan 23, 2009 11:58 AM CST reply actions  

The Henry deal

included something like an 80% stake in Boston’s television network and furthermore.. who is to say what the Red Sox are worth today OR that you can even compare the two franchises?

The red and white bulls

by Scott 9 on Jan 23, 2009 12:42 PM CST up reply actions  

I don't agree with you about

the Red Sox being perennial contenders who have always fielded good teams. That is the recent description of the franchise.

There was a long stretch of years where the team was awful and the ballpark was empty, just like the Cubs for a long period of time in their history.

Hey, it's a new century!

by cowsarecool220 on Jan 23, 2009 1:17 PM CST up reply actions  

I am in shock

You mean there is still $900 billion left in our economy? Shocked. I thought I had most of it.

"You can't take life to seriously, you don't get out of it alive"

by wild bill on Jan 23, 2009 12:46 PM CST reply actions  

There is, and John Thain

awarded it out as executive bonuses at B of A.

"Enough foreplay- let's get crackin'"- Fred Garvin

by davidalanu on Jan 23, 2009 4:53 PM CST up reply actions  

Tribune Co. would keep a small percentage of the team for tax reasons

“Under the structure that had been discussed with baseball officials, Tribune Co. would keep a small percentage of the team for tax reasons, probably around 5 percent, a baseball official said. The official spoke on condition of anonymity because discussions between the team and MLB have not been made public”

http://sports.yahoo.com/mlb/news;_ylt=AgRHS9hQSeZboLoyi8XDoc4RvLYF?slug=ap-cubssale&prov=ap&type=lgns

"I like coconuts, you can break them open and they smell like ladies lying in the sun" Widespread Panic

by Cubbie-Tim on Jan 23, 2009 2:06 PM CST reply actions  

link

http://sports.yahoo.com/mlb/news;_ylt=AgRHS9hQSeZboLoyi8XDoc4RvLYF?slug=ap-cubssale&prov=ap&type=lgns

lets try again….if it doesnt work, please delete the post for me Al.

"I like coconuts, you can break them open and they smell like ladies lying in the sun" Widespread Panic

by Cubbie-Tim on Jan 23, 2009 2:10 PM CST up reply actions  

Don't worry about it.

People can copy/paste your link into a browser window.

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

by Al Yellon on Jan 23, 2009 2:54 PM CST up reply actions  

can someone tell me

how to make the (click here) link ordeal instead of a long link?

"I like coconuts, you can break them open and they smell like ladies lying in the sun" Widespread Panic

by Cubbie-Tim on Jan 23, 2009 4:21 PM CST up reply actions  

Ask and you shall receive.

Go here. I’m going to put that on the right sidebar for easy reference.

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

by Al Yellon on Jan 23, 2009 6:24 PM CST up reply actions  

THANKS!

I bookmarked the link so I can try it in the future….

"I like coconuts, you can break them open and they smell like ladies lying in the sun" Widespread Panic

by Cubbie-Tim on Jan 23, 2009 6:29 PM CST up reply actions  

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