FanPost

Interesting conversation on WGN last night... Zell and Ricketts

Last night I was listening to WGN Sport Central and wondered if anyone else heard it...

Basically the hold up with the sale seems to boil down to Sam Zell wanting the sale financed a certain way.

He wants Ricketts to do a majority of the sale with loans, saving Zell a buttload of taxes on the sale...
By doing this it would saddle Ricketts with 30 to 40 million in interest per year...

Now considering the sale price of the Cubs is sitting at $1.1B to $1.2 Billion the 30 to 40 million
doesn't seem like such a large amount except the Cubs are only making a profit of $30 Million a year.

So our buddy (* Tongue Firmly in Cheek *) Sam Zell, wants the new owner to use all the club profit to
keep him from having to pay his taxes on the sale thus preventing the club from doing things like
increasing the player payroll pool or make renovations to Wrigley without loosing money.
What I found most interesting is that if Zell drags his feet long enough it is possible for the Banks to
get impatient, set in and force the terms to get the sale done so they get their money and Ricketts
could very well get the team for less than the original price...

What really amazes me is this...

Is Zell really that greedy or stupid to think the new owners, no matter who they were going to be would sacrifice
the team profits to keep him from paying taxes???

This is a FanPost and does not necessarily reflect the views of SB Nation or Al Yellon, managing editor (unless it's a FanPost posted by Al). FanPost opinions are valued expressions of opinion by passionate and knowledgeable baseball fans.

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