Question on when Ricketts will actually be able to have an impact

by Southside Steve on Jan 26, 2009 1:10 PM CST

I'm just an average die hard fan and haven't closely followed the proceedings in the Tribune Company's bankruptcy. From what I've gathered from reading some of the posts here, am I correct that the bid made by Rickett's will first have to be gone over by the Trib, their creditors and the bankruptcy court before the sale can be approved and only then be submitted to major League Baseball for approval by the owners ? If all this is true, what time frame are we looking at before Ricketts can make some decisions as to payroll, player acquisitions, etc ?

I'm hoping that people more familiar with this type of thing can give us an educated estimate.

thanks !

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The sale could be finalized by late March

IF the parties involved are to be believed that they will “fast-track” the processes required to complete it.
My oft-misinformed opinion is that Ricketts will have an impact by the trade deadline, because the team is pretty much set for the first half of the 2009 season. (No Peavy before Opening Day)

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

by chilango2 on Jan 26, 2009 1:21 PM CST reply actions

look, finally a new post!

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 26, 2009 1:37 PM CST reply actions

August 3, 2012...

He will jump out of the bleachers and on to the field, put on a uniform and pitch the last 4 innings of a 28 inning game against the Cardinals.

Proud recipient of a hot dog shot from the Iowa Cubs hot dog gun.

by IowaCubs- on Jan 26, 2009 2:16 PM CST reply actions

AND

Bat lefty, hitting a game winning GS

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

by Cubbie-Tim on Jan 26, 2009 9:36 PM CST up reply actions

Not for awhile

1. First things first, the Ricketts group needs to square away the financing deal. Which is by no means a slam dunk to happen swiftly given the current financial market crisis.

2. The Tribune Company bankruptcy is likely to gum up the works for a little while.

3. Once those first two hurdles are cleared then the major league owners need to formally vote on Ricketts.

by BLou on Jan 26, 2009 5:06 PM CST reply actions

This was actually a very good question

and not just “when” as in a date on the calendar, but “when” in terms of at which stage in the current process. But who knows the answer? Does Bruce Miles know? Would Jim Hendry even know the answer?

"Who's Bob Brenly? The guy that used to be the manager for Arizona?" ~ Alfonso Guilleard Soriano

by JohnM on Jan 26, 2009 5:06 PM CST reply actions

I doubt either of those people know.

At this point, I don’t think anyone can answer this question.

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

by Al Yellon on Jan 27, 2009 4:23 AM CST up reply actions

Zell and Ricketts probably could

but they don’t talk to the media.

"Who's Bob Brenly? The guy that used to be the manager for Arizona?" ~ Alfonso Guilleard Soriano

by JohnM on Jan 28, 2009 5:50 AM CST up reply actions

Does it matter?

Without getting too political here, I think this is somewhat similar to what we just went through at a national level. Obama was elected President last November, we had this transition period, and he formally took over last week at the Inauguration. During the transition period, Bush was still president, still had the authority to make decisions, and still got to ride in Air Force One. But you know that Obama sat in on all the important meetings, and was made aware of and consulted on any policy decisions of consequence.

Now it’s not quite the same, but essentially what we have here with the Cubs is Ricketts was just “elected” the new owner of Cubs. TribCo is still the official owner and still has authority to make decisions, but I gotta believe that Ricketts will be consulted and informed on all Cubs-related decisions of consequence moving forward until the sale is complete, i.e. the “inauguration”.

In the meantime, Kenney and Hendry have been running the Cubs under this cloud of uncertainly for a very long time, and overall, they have done a very good job of keeping it “business as usual”. With someone like Ricketts as the incoming owner, I would expect that “business as usual” would continue. I would also expect that if Kenney and Hendry have an opportunity to improve the Cubs, they will do so – it just may take one extra phone call now.

In practical terms, dealing for Peavy doesn’t have to wait until Ricketts is officially the owner. I’m sure he’ll be consulted if the situation presents itself again. And if the numbers work, we’re not giving up too much talent, and it makes sense for the Cubs, the deal will happen regardless of who is the owner.

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

by ballhawk on Jan 26, 2009 7:44 PM CST reply actions 3 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 27, 2009 4:24 AM CST up reply actions

I'll sec that Rec.

When Ricketts does finally seal the deal, maybe the Cubs should have an inaugration ceremony for him. GRod could some poetry from his jail cell. Aretha could take a shot at redeeming herself and wearing a better hat. And maybe Ron Santo could help Ricketts recite the oath of office. (What could go wrong?)

On second thought, an inaugration ceremony would probably end up just being another Cubs rally. And we all know how badly things turned out after the last couple of those. Let him assume power quietly, with checkbook in hand.

Consistent. Championship. Tradition.

by daver on Jan 27, 2009 10:05 AM CST up reply actions

I don't think it's a perfect analogy

because he wasn’t completely elected yet. Some say the other bidders could increase their offers. Some say the creditors or court could force a different, higher bid to be accepted. It feels a little more like December 2000 than December 2008, when votes were still being scrutinized and recounted.

"Who's Bob Brenly? The guy that used to be the manager for Arizona?" ~ Alfonso Guilleard Soriano

by JohnM on Jan 28, 2009 5:49 AM CST up reply actions