OWNERSHIP FIASCO: Tribune reopens talks for Cubs with Utay/Hindery group

It is the prerogative of every person and organization to reduce the amount of taxes they pay through whatever means possible within the letter of the law. The government isn’t entitled to any more money than their laws mandate. There is nothing unethical with how Zell would ideally want this sale to go down, from the perspective of taxes.

That said, as a Cubs fan who was happy when Ricketts ‘won’ the sale, and someone who would like to see the sale completed as soon as possible, it is incredibly frustrating to watch our organization sit in limbo as this drags out. Hopefully Zell will discover that he can’t find anyone who wants to take on that level of debt in this economy, and he is forced to complete the sale with Ricketts, taxes and all.

News Flash: It’s not the government’s money!

The founding fathers are rolling over in their graves.

It’s just that the laws allow a certain amount of leeway and he’s taking advantage of it.

I’m not advocating Zell’s actions as I believe its his greed that really cost him a good $150M. The sale should have been completed before any of us ever heard the words, “Bear Stearns collapse” on the news.

Let’s see…we all love the Cubs. You’re pretty much dead-on with the pathetic joke especially in light of the expectations.

for misspelling we’re, but what’s the point on the rest?

there’s one born every minute?

I’ll believe it when they close the deal and it’s less than $850M-$900M.

at the price he was offering. The economy has decreased the value of all professional franchises. Advertising revenue is down. The financing is one part of the deal but so are the broadcast rights.

I was just thinking though. Would this possibly mean that the Cubs would have some money to spend at the deadline? Here’s my reasoning. Zell does not want the on the field product to look bad through this as that would give any potential owner another bargaining chip. Now, I’m not saying that the Cubs are bringing in A-Rod, but maybe a $6/7M player. Prorated that would only be $2/3M for this year.

Also, if they are even sniffing Pedro, that would mean that Hendry, at least, doesn’t believe the well is totally dry.

And a month ago, Utay was out of the running.

I’ll believe it. Until then, who knows.

Exclusivity period is over – which I would take to mean, at least in theory, that anyone/everyone is eligible again. Not quite sure where Cuban is on the pecking order, but if those above him encounter financial problems when it gets down to the nitty gritty, why couldn’t he emerge again as a serious option?

He’s got money and that’s what seems to be what motivates Zell (and I presume the bankruptcy court) the most. True, others appear to have had more money, but the guy with the most (Ricketts) is having problems, and who’s to say this Utay/Hindery group won’t have problems as well.

As for being the best choice (or not), to paraphrase William “Bill” Munny (Clint Eastwood) in Unforgiven right before he kills LIttle Bill Daggett (Gene Hackman)… “Best’s got nothin’ to do with it”

but for someone who’s made his coin in real-estate, he was pretty naive in thinking he was going to milk a buyer for more once the banking system nearly collapsed last year. The writing was on the wall even before Bear Stearns collapse.

I really believe he could have hit 10-figures if he wasn’t trying so hard to limit his tax exposure.

that I did not read the article before I posted this…

… regarding this being an attempt to get leverage over Ricketts. We’ll see. Note that all the articles say that the Ricketts group is still negotiating.

My take on it is that eventually, the Ricketts group winds up closing the deal.