Ricketts deal on thin ice
Is the selling of the Cubs going happen any time soon?
over 2 years ago
jkobus
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I hope it DOESN'T get done
Rickett’s trouble with monetization makes me shudder when thinking what’ll happen once he’s owner. Granted, credit is tight even for the best-leveraged entities, but I fear Ricketts does to the Cubs what Zell did to the Trib.
One day I hope to come up with something worthy of this space.
What he needs is
A Heidelberg printing press, that way he can just print his own cash. Hows that for true Monetization?
Unless he has a boat load of blood diamonds, which would work as well.
"Ask Dad. He'll know. And on the off chance he doesn't, he'll make something up"
Maybe he got a Heisenberg printing press by mistake.
You can set the speed, or tell it what to print, but not both. (Some people struggle with Heisenberg’s.)
Judd Sirott is responsible for EVERYONE'S injury. And all the current slumps.
Bradley watch -- out 11 games of 47
It's not Ricketts
It’s Zell. Zell is insisting on a highly-leveraged deal as a tax dodge. Ricketts has the money—it’s just that Zell is insisting upon Ricketts financing the whole thing and not paying any of the principal for five years so that he can get out of paying capital gains taxes. Few banks in this economy are willing to go along with Zell’s scheme.
by Josh Timmers on May 28, 2009 6:41 PM CDT up reply actions 1 recs
Josh77 us correct about this...
Zell’s conditions on the financing is the sticking point. Putting the financing together for this is difficult because of the reluctance of the banks.
Also, I remember reading an article in a magazine for tax accountants that Zell may find the IRS taking a look at the final deal because of how he wants the financing structured. I wish I had made a copy of the article. I read it a while ago. The magazine is called Tax Notes if there any accountants out there
"Pinky, are you pondering what I'm pondering?"--The Brain
it is all about the Capital Gaines Tax
Zell is trying to figure all ways out of having to pay it. Think Bud Selig selling used cars was a joke (ethically nad morally), imagine Zell and his real estate business’
baseball is a game of outs......pop out, ground out, line out, pitch out, strike out, fly out, and Fox and Bud's favorite black out
Fine then
I guess he doesn’t need a Heidelberg printing press, my bad.
"Ask Dad. He'll know. And on the off chance he doesn't, he'll make something up"
Well, I'm sure...
he wouldn’t mind one… :)
by CubsWin!Oregon on May 29, 2009 5:42 PM CDT up reply actions
I never considered
that the deal wasn’t final. I thought it was just a matter of dotting a few i’s and crossing a few t’s. This is not good news.
by jerry morales rules on May 28, 2009 4:50 PM CDT reply actions
So, what happens if it doesn't get done?
Seems like there would be all sorts of ramifications for everyone involved the Trib, Rickets, and the Cubs (and, dare I say, Jake Peavy).
by DisCUBbobulated on May 28, 2009 5:02 PM CDT reply actions
I'm so sick of this
I don’t even care who owns the team anymore just as long as I can see my Cubs on TV.
Maybe it's just me, but it reads like an offhand comment
I’m not sure there is trouble yet.
Facts are meaningless. You could use facts to prove anything that's even remotely true! --Homer J. Simpson
by Shanghai Badger on May 28, 2009 5:56 PM CDT reply actions
Agreed
It’s more of a threat to Ricketts than anything.
by Josh Timmers on May 28, 2009 6:43 PM CDT up reply actions
Yeah, people need to consider the source
This reeks of an empty threat passed on through a Zell-owned media.
Does this mean that rumors about Marc Cuban can start again?
baseball is a game of outs......pop out, ground out, line out, pitch out, strike out, fly out, and Fox and Bud's favorite black out
Zell is doing his usual negotiating in the press
nothing more. Ricketts wants to cut $50 mil off the deal and Zell is responding in this fashion.
Zell is a complete clown of a human being.
He has made him self look like an idiot in his short time running show.
I disagree....
Since he has run the show the team has been in the playoffs twice.
You can’t fault the man for trying to make the most of this deal, especially when he has lost his ass on his other Trib holdings.
BTW, Josh77 is 100% right about the reason for the delay. IMHO, you can’t blame him for this. Anyone on this board would do the same.
by timeforachange2009 on May 28, 2009 10:46 PM CDT up reply actions
Zell
He wasn’t so bright paying top dollar for a newspaper company two years ago, was he?
But this was his plan all along for the Cubs, economic depression or no. Zell wanted to sell the team and he didn’t want to pay the capital gains taxes on about a $900 million appreciation.
by Josh Timmers on May 28, 2009 10:54 PM CDT up reply actions
Agree.....
100% about the purchase BUT that was not what Glacier typed.
“He has made him self look like an idiot in his short time running the show”.
IMHO he has given Hendry free reign. What more can we ask for?
His purchase turned out to be ill timed (to say the least).
You can’t blame him for wanting to avoid paying the capital gains tax. You (and I) would do the same.
by timeforachange2009 on May 28, 2009 11:01 PM CDT up reply actions
Report out by Crain's e-mail alert that Ricketts is having difficulty securing $450 million in financing
It goes onto say that the Ricketts bid to purchase the Cubs is in jeopardy right now.
Awww, come on guys, it's so simple maybe you need a refresher course. It's all ball bearings ...
see Jeff77's comment above
(yeah, right)
"I don’t really play baseball, I feel it." -- Milton Bradley
by drewishdrewid on May 28, 2009 10:31 PM CDT up reply actions
doh
Josh77’s
"I don’t really play baseball, I feel it." -- Milton Bradley
by drewishdrewid on May 28, 2009 10:31 PM CDT up reply actions
post the email alert
baseball is a game of outs......pop out, ground out, line out, pitch out, strike out, fly out, and Fox and Bud's favorite black out
BTW.....
how do you move this up to a Fanpost? Me thinks it is worthy.
by timeforachange2009 on May 28, 2009 11:17 PM CDT reply actions
It probably is.
But you can’t do that. Best you can do is recommend it so it gets in the rec Fanshot list.
"You can observe a lot just by watching." ~ Yogi Berra
Thanks!
I think this is a very important topic.
As much as we bitch about the play on the field the new ownership group will dictate the future of this franchise. Ricketts, IMHO, would do what it takes to put a winner on the field AND keep the “tradition” of the team intact. I hope it works out.
by timeforachange2009 on May 29, 2009 11:00 AM CDT up reply actions
I swear
Everything with this team in the last couple of years feels like pulling teeth. There’s all of the busted trade deals, playoffs issues, Dome’s inexplicable issues last year, and this is something that has been going on for quite some time too. Lou brought in “Cubbie Swagger”, although as of late you’d be hard pressed to find it, but instead of that, I’d rather just see some consistency with this ball club, preferably of the positive kind. Don’t drag out trade deals and player signings, fix what goes on on the field, and get this team sold. If it isn’t something frustrating going on on the field, it’s something happening off of it.
by Craig in South Bend on May 29, 2009 8:58 AM CDT reply actions
sale
no owner means no help at the trade deadline.too bad as we really need some.
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