Cubs sale may drag on past May

latest update on pending sale

almost 3 years ago Clutche 13 comments 0 recs |

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This doesn't surprise me at all.

It wouldn’t surprise me to hear that the sale wasn’t completed at the end of the season.

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

by Al Yellon on Apr 14, 2009 4:05 AM CDT reply actions

I would not be surprised if it took another year to complete

especially with Zell wanting to avoid Capital Gains Taxes

Friendship is like peeing on yourself: everyone can see it, but only you get the warm feeling that it brings.

by Cubbie-Tim on Apr 14, 2009 9:27 AM CDT reply actions

Sky blue, water wet.

I've committed to tweeting about the Cubs for the rest of the reason. (Does that sound as ridiculous as I think it does?) Anyway, if you're on Twitter, you can follow me here.

by daver on Apr 14, 2009 9:47 AM CDT reply actions

Think its about gone to the court system by now

The financial leg should already be wrapped up; with Ricketts securing some $400M or so by moving equities. I’m not sure what’s still really going on.

Seems like the MLB vote can occur early relative to the normal process.

Unless the court rejects this there’s no reason why Ricketts can’t be installed as the new owner by about Memorial Day.

Sweet Lou for Mayor in '11.

by blackhawk24 on Apr 14, 2009 10:32 AM CDT reply actions

we hope

bankruptcy lawyers will review every letter of the sale three times to ensure that the creditors get the best benefit out of the sale.

Friendship is like peeing on yourself: everyone can see it, but only you get the warm feeling that it brings.

by Cubbie-Tim on Apr 14, 2009 10:53 AM CDT up reply actions

Your timeline...............

is reasonable and likely to happen

If you had to choose just one characteristic that would get you through life, choose a sense of humor.

by Clutche on Apr 14, 2009 11:39 AM CDT up reply actions

why havnt they had the vote yet?

wouldnt it make sense to do that first?

by Glacier on Apr 14, 2009 2:26 PM CDT up reply actions

makes no sense to vote

and only hvae the bankruptcy court deny the sale

Friendship is like peeing on yourself: everyone can see it, but only you get the warm feeling that it brings.

by Cubbie-Tim on Apr 14, 2009 3:29 PM CDT up reply actions

i look at it the other way

why go through all the process of getting the money and going through court ect when it can just be blocked by the owners.

by Glacier on Apr 14, 2009 4:51 PM CDT up reply actions

this is a perfect example of

six of one, half dozen of the other I would say

Friendship is like peeing on yourself: everyone can see it, but only you get the warm feeling that it brings.

by Cubbie-Tim on Apr 14, 2009 5:11 PM CDT up reply actions

If the Ricketts family is going to buy the team, I’m sure there are changes they would liek to make. I’d rather those changes be made with plenty of time before the free agent period begins. Will Hendry be let go? What sort of budgets will be implemented? All these things are better to be figured out in May than, say, October.

By the way, do we know who the manager for the Cubs will be next season? Isn’t Piniella’s contract up after this year?

by jerry morales rules on Apr 14, 2009 12:58 PM CDT reply actions

Ricketts is in a bit of a no-win situation once he takes control of the team

The Ricketts family is going to be hard-pressed I believe to support a $140 million payroll over the longer-haul. They’re going to have a big debt load to service. I would think beginning next offseason Jim Hendry (or his successor) will be instructed to quietly pare down payroll in a manner that doesn’t raise the ire of fans. The perfect cover will be the lousy economy.

Those of you who think the Ricketts are going to make a big splash by expanding the payroll even further from its already bloated level are in for a surprise. Keep in mind also that this current payroll is loaded with bad contracts and back-loaded contracts.

by BLou on Apr 14, 2009 1:09 PM CDT reply actions