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Who Should Own The Cubs?

With another couple of days to pass with no ballgames, I thought it was about time to start some discussion here of the next big event regarding the Cubs -- the upcoming sale by Tribune Company, or more correctly, by Sam Zell once he consummates the purchase of Tribune Company. Incidentally, just today we learn that this deal may be further delayed because:

Kevin J. Martin, chairman of the Federal Communications Commission, is refusing to grant the necessary waivers that would allow the deal to circumvent FCC rules against cross-ownership of media properties.
So stay tuned.

I have been accused of being an apologist for Tribco. Nothing could be further from the truth. As many of you know, I wrote three paid articles for Vine Line and got paid $180 for them. I can't be bought for $180 -- that's ridiculous. In fact, all three articles were adapted from posts I originally made here. There have been times when I have defended Tribco, management, and Dusty Baker -- far longer than I should have, in the latter case. At this point, that's far beyond relevance -- I know, as do all of you, that it's time to move on, to get an owner of this ballclub that is committed in every way to winning. I do think Tribco management wanted to win; it simply wasn't willing to go the extra mile to do so. A very simple way of seeing this is the fact that the Cubs have the fewest full-time year-round baseball employees of any team in baseball. This obviously hurts scouting and player development. I have heard this is going to change this offseason, as Tribco apparently wants to go out on a good foot -- or maybe they have an understanding with all of the principal contenders for ownership that they can do so. This might also portend well for possible payroll increases or acquisitions this offseason.

I've digressed a bit, but the bottom line on current ownership is this: in twenty-six years they've had nine winning seasons, five playoff appearances and no championships. This, obviously, isn't acceptable. It is, however, better than the twenty-six (in fact, previous thirty-six) seasons of the previous ownership, the Wrigleys, who managed the Cubs with benign neglect after World War II, to a total of eight winning seasons and no postseason appearances at all between 1946 and 1981.

We, therefore, deserve better and we demand better. And I'm here to tell you who I believe will give the Cubs the best chance to do what we all want so badly -- a World Championship.

Last week, Gary Cohen of the Medill Report, an online review written by graduate journalism students at Northwestern, summed up who he sees as the four major contenders for possible ownership -- the John Canning group, Mark Cuban, Don Levin and a group led by former Chicagoan and former Diamondbacks owner Jerry Colangelo. I don't necessarily agree with the odds Cohen puts on each group, and I'm not going to discuss the Colangelo possible bid here. It doesn't seem as if he has a realistic shot, given the debt with which he saddled the Diamondbacks, something Bud Selig and the other owners undoubtedly remember. This will likely sour MLB owners, who have the right to reject any potential owner for any reason they want, and put any Colangelo bid as a non-starter.

So let's look at the other three.

So many of you want Dallas Mavericks owner Mark Cuban to own the Cubs. And I keep asking myself, "Why? What is it about this guy that would make the Cubs a winner?" It's true that he's sunk a large amount of money into the Mavericks; they've become a perennial playoff team, although prone to early exits from those playoffs, too. What bothers me about Cuban, as I've written before, is his "It's all about me" attitude. When he was recently in Chicago he made a well-publicized trip to the bleachers, sitting there on September 17 when the Cubs made a stirring comeback and beat the Reds 7-6. And why was he doing this? To root for the Cubs? To show his loyalty? No, he was there sitting with his dance partner Kym Johnson to promote his appearance on "Dancing With The Stars".

I don't want this sort of forced loyalty, this "I'll bleed Cubs blue" (to coin a phrase) that Cuban's been quoted as saying he'll do IF he gets the team.

This, to me, is ownership by sports talk radio or reality show. He hasn't said one word about how he'd improve the team, who he'd hire and fire (and incidentally, any prospective owner would be crazy if he didn't retain the marketing team, and have a role for John McDonough. Say what you want about the performance on the field, there is absolutely no doubt that the Cubs' marketing department is among the best in baseball at what they do). All we've heard are some comments about what Mark Cuban would do. And check out the quotes from him in Rick Telander's Sun-Times column yesterday, taken from an article in Vibe magazine (couldn't find an online link):

The questioner said he knew a writer who had called Mavs forward Dirk Nowitzki "Dirk Noheartski," and what did Cuban think of that?

"Tell your guy if he were here, I would walk right up to his face, call him a f---ing idiot with no clue."

And when the interviewer said he noticed tears in Cuban's eyes after Dallas was ousted by the Golden State Warriors last season, Cuban replied, "You are on crack."

Well, that makes for interesting newspaper copy, and interesting talk show fodder. But it doesn't help my team win. No thanks.

No thanks on the John Canning group, either. While there's no doubt they do have money, there are hints that they wouldn't spend it. It'd be like having Tribco own the team, only by a single owner. It's not really clear whether Canning would be the "owner", either; the group he's putting together is likely very much like the group that owns the White Sox. Jerry Reinsdorf isn't the majority owner of the Sox; he's the "managing general partner", meaning the other owners in the partnership that owns the team made him the public face, the leader of the group. Canning's group, if they were to get the team, would probably do the same, and given the public criticism of his tight connection with Bud Selig, might choose someone with a well-known Chicago public face to be that "managing general partner". Who that would be -- I have no idea at this time. But reading some articles about how Canning's influence helped cut Brewers payroll in the years just before they were sold -- and the fact that he didn't seem interested in owning the team when they were put up for sale -- leads me, after careful consideration, to the same conclusion many of you have come to about Canning and his group. They'd be in it for money and money only, despite the fact that Canning grew up in Chicago and purports to be a Cubs fan. He's the wrong guy, and despite his close connections with Selig (and, presumably, Reinsdorf), I hope Bud and his minions will look at the bid from the guy I'm going to tell you about next, the man who'd be my selection, hands down, to be the next Cub owner if the choice were up to me.

That man is Don Levin, owner of the American Hockey League's Chicago Wolves.

He's everything we could want -- a local guy. Grew up a Cubs fan. Has owned a local sports team that's been a multiple-year champion and perennial contender (and yes, I am aware that they are an affiliate of a major league team, the Atlanta Thrashers; however, Levin also owned the Wolves when they were an IHL team and more independent, and produced winners there, too).

He was one of the first to express interest in buying the Cubs right after the Tribco sale was announced in April; from that article:

Levin's Wolves have won three championships since their inception in 1994, and he remains a passionate Cubs fan.

"I'm realistic enough to know that I might not get it," he said, "but I certainly hope that whoever gets it is local and that they have the passion to want to win, not just to play.

"My dream in life is to be involved in a World Series. Personally, I'd like to do it against [White Sox Chairman] Jerry Reinsdorf. He's the only other guy who likes to win as much as I do."

Well, that sounds good already, right? But wait! There's more! Levin's a fan and fan-friendly owner:
Levin, 59, frequently connects with fans face-to-face, making himself available to chat during games at Allstate Arena. Why?

"Without fans, you don't have anything," he said.

His customers appreciate this refreshing attitude.

"He's just a fan himself," season-ticket holder Jim Smalley said. "That's why he's so down-to-earth. You can walk up to him and talk, and he definitely is willing to listen if you have something to say about the team. He makes you feel like you're part of the team."

Perfect. A fan-owner who listens, rather than a potential fan-owner (Cuban) who blares on and on about where HE will sit if he owns the team. Last November Mike Downey wrote a column in the Tribune (which is no longer available online, or I'd give a link) about Levin, who had expressed interest in buying the Cubs back then, before any announcement of a sale was even made official. In it, Downey wrote:
Levin, a wealthy businessman and lifelong Chicagoan, is eager to make a bid on the baseball team he has been rooting for his entire life.

"I would never do this for the money," said Levin, who owns Chicago's popular minor-league hockey franchise, the Wolves. "I'd do it to be the guy who after 98 years could help make a winner of the Cubs."

As I've written before: LOUD, SUSTAINED APPLAUSE! That's exactly the guy we want owning the team -- a lifelong fan who's committed to winning. And he says he'd "never do this for the money" -- which I take to mean he wouldn't be in it to squeeze the bottom line, but to do whatever it took to win, and that's further evidenced by this, also from Downey's column of November 2006:
"If they want to sell it, I want to buy it," he said Friday over lunch at Harry Caray's Restaurant. "If I can keep the team as it is, I will. If I can keep it on [WGN], I will. The only thing I want to change about the Cubs is their record."

Estimates have placed the value of the Cubs from $500 million to as high as $650 million. Levin is unfazed.

"I could do it on my own," he said. "If they would be willing to sell it to me, I could close it in 90 days."

Downey quotes Levin as being a passionate Cubs fan since he was a kid:
"As a kid, what I did was go to Cubs games. My dad would be there at Wrigley every day. He was born in 1914, the same year Harry Caray was and the same year the ballpark was. He passed away in 1994 without ever seeing them win a World Series, which is something I want to see in my lifetime."
Money, apparently, is no object. He wants to win and already operates a well-liked, fan-friendly franchise in town. Rescues puppies in his spare time. (No, really. Read the link.) What's not to like?

I won't flatter myself that the words I write here might have any influence over who eventually becomes Cubs owner. And it won't, as we all know, necessarily be the guy or group who bids one cent more than the others -- there are other factors involved.

But Sam Zell, if you're reading this: Don Levin is the perfect guy to be the next Chicago Cubs owner. And as you see above, he can pay you cash. Choose him, as soon as it's possible for you to do so (and with the delays in finishing the Tribco deal, it might take till after the 2008 season to complete a Cub sale). He's my choice. Go Cubs.

UPDATE [2007-10-22 15:55:46 by Al]: If you read through the comments to this post earlier today, you saw some photos posted, which I found immature and offensive and irrelevant to the post. I've allowed picture posting here and I don't want to take that privilege away, because many of the photos posted are terrific (game photos, in particular, taken by BCB readers), and so is the W flag posted on game threads after wins. But stuff like this is unnecessary and, to me, takes away from the intelligent discussion of this major issue involving the Cubs. This is simply to note that I reserve the right to delete any such future photos without warning. Thanks for understanding.

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Thanks for such a comprehensive piece...
 I hope to have a more detailed thought to share later, but I have to ask is Jerry Colangelo really a non-starter? I look at his resume, background, and experience, and think he may be the right guy. Read the NY Times write-up a few months ago, so I know a few of the owners are still seething, I'm surprised that he would be lurking if he didn't think that he was seriously in the mix.

by Damen Jackson on Oct 22, 2007 10:21 AM CDT reply actions  

I admit . . .
you've swung me.  Cuban suddenly doesn't look appealing with those anecdotes.

Then again, I just do not want Canning.  No matter what.  Everything I've heard about the group (Selig buddy, gutting the Brewers, corporate-pack mentality) sounds worse than life right now under Tribco.

peace,
hoosiercubbie

by hoosiercubbie on Oct 22, 2007 10:23 AM CDT reply actions  

Agreed on Canning.
Which is why I think Levin would be absolutely perfect.

In many ways, he's exactly the guy Bud Selig was when he bought the Brewers in 1970. Longtime fan with money, local guy, etc.

The only difference is, Levin's committed to winning.

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

by Al Yellon on Oct 22, 2007 10:34 AM CDT up reply actions  

Okay Al I am sold on Levin also.
I was unaware of Canning having a hand in the cheapness of the Brewers in their later years.

That and any association he may have with Reinsdorf settle it for me.

How realalistic is a Levin bid going to be taken though??

My God that one is going to land in Milwaukee - Lou Boudreau describing a Dave Kingman home run in the Cub/Phillie 23 to 22 game in 1979.

by cjn54 on Oct 22, 2007 2:48 PM CDT up reply actions  

At the end of the day......
it is going to come down to who Uncle Bud and the rest of the ownership group is comfortable with.

My money is on Cannning.  

"You are an asshole": NDcubsfan

by timeforachange on Oct 24, 2007 7:29 AM CDT up reply actions  

I'll post on that later today.
And, announce a similar contest for the World Series!
"That's my opinion and if you don't like it, well, I have others." ~ Groucho Marx

by Al Yellon on Oct 22, 2007 10:32 AM CDT up reply actions  

Thanks,
It looks like you got your work cut out for you.  I went through them kind of fast, but I didn't see anyone guess ROX in 4 and SOX in 7.  There were several who said ROX in 5 and SOX in 7 though.

by adam316 on Oct 22, 2007 11:06 AM CDT up reply actions  

Excellent Post
Thanks Al.  I agree, I have never been too high on Canning or Cuban.  I think Levin would be a good fit.  Lets just hope MLB feels the same way.

by cubsscoop on Oct 22, 2007 10:34 AM CDT reply actions  

Agreed that Levin
would be the best option. Even if his Wolves beat my local favorite, the IceHogs, recently.

http://stats.theahl.com/stats/game-summary.php?game_id=1003565

However, in Cuban's defense, I think its too early for any prospective owner to say "one word about how he'd improve the team, who he'd hire and fire"

by Neifi Puppy on Oct 22, 2007 10:45 AM CDT reply actions  

Is Levin the same guy...
that was interviewed in one of the late season ESPN broadcasts. As I recall the guy they interviewed was a lawyer and had a partner. I believe he had season tickets close to the plate. He said he had bid on the team when the Trib bought it. Could be different guy.

I also remember early on in the season hearing that Bill Murray was interested. Is that dead altogether?

"You know what? You want a job? Go out and earn one." Sweet Lou

by Kyle Turney on Oct 22, 2007 10:45 AM CDT reply actions  

The guy you're thinking of...
... is "Pink Hat Guy" -- Jim Anixter, who did put together a bid for the Cubs 26 years ago. I don't think he's a factor now, though.
"That's my opinion and if you don't like it, well, I have others." ~ Groucho Marx

by Al Yellon on Oct 22, 2007 4:13 PM CDT up reply actions  

Levin is my choice
If you don't agree or don't understand, go to a Wolves game. I've ran into the owner one time roaming the concourse during the break. Wolves games are fun and they put a good product on the ice, which is more important in this equation. Forget about the whole affiliation thing. THe Wolves are good, but the Thrashers haven't won anything despite the Wolves being world beaters most of their existence.

Levin is rich, he's local, he's a winner. Period. I think that's all anyone can ask for without seeing a single game under his ownership yet.

"Hello again, everybody. It's a bee-yooo-tiful day for baseball."- Harry Caray

by TkGoUWGB on Oct 22, 2007 11:04 AM CDT reply actions  

Agreed on Levin
I covered the Wolves for several years in the mid- and late '90s, right after they came into being. I can tell you Don Levin runs a big-league operation even if his Wolves have played in two "minor" leagues, the International Hockey League and the American Hockey League. He treats his players, the media and, most important, the fans, with respect. I've seen him walking through the Rosemont Horizon (now Allstate Arena) and actually listening to the fans. All Wolves games, home and away, are on cable TV. If he can't get the Cubs, I'd love to see him own the Blackhawks. If Don Levin and his group are able to purchase the Cubs, you will not be disappointed.

by Bruce Miles on Oct 22, 2007 11:17 AM CDT reply actions  

the more I think about it.
the more I really want Don Levin. Unfortunately, I think Bud's friend Canning will win in the end.
AC 00 00 00 - BELIEVE

by mike @ Bleed Cubbie Blue on Oct 22, 2007 11:21 AM CDT reply actions  

Great recap Al
good analysis of this situation and after reading your article I agree. My two cents, I would just like to see an owner put money back in. Wrigley and the Cubs are a cash cow. As one funnyman once said, turn the seats around backwards and they will still sell out. Maybe. Point is, the cubs take in a lot of cash, spend it wisely, put successful people in place to run the thing, get good players. I think we can be a consistent playoff team. Make it so.
This is only the beginning....Lou Pinella end of '07 season and Chicago Transit Authority (the band when they were really good).

by mrcubsfan on Oct 22, 2007 11:27 AM CDT reply actions  

Don Levin?
How can you want Levin?  He hasn't said one word about how he'd improve the team, who he'd hire and fire. All we've heard are some comments about what Don Levin would do.  "I'd be the guy..."

Gee.  So self centered.  How can you support a guy like this?

by Ivychat on Oct 22, 2007 11:32 AM CDT reply actions  

Nicely taken out of context.
Here's the entire quote:

"I'd do it to be the guy who after 98 years could help make a winner of the Cubs."

That's exactly what we want, right?

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

by Al Yellon on Oct 22, 2007 4:34 PM CDT up reply actions  

You...
well know what and who I want.

But your non-emtional reason for dismissing Cuban applies to Levin, too.  You don't want Cuban because you don't like him.

Guess what.  You probably wouldn't like Levin that much, either.

Cuban is not my top choice.  But, if past performance is the best indication of future performance, what he's done with the Mavs is remarkable.  I'd take a flyer on a guy like that.

by Ivychat on Oct 22, 2007 5:24 PM CDT up reply actions  

The new owner...
We need one with rosy cheeks who doesn't smell of barley water.

by Rynot @ Bleed Cubbie Blue on Oct 22, 2007 11:51 AM CDT reply actions  

our new owner:
If you want this choice position
Have a cheery disposition
Rosy cheeks, no warts
Play games, all sorts

You must be kind, you must be witty
Very sweet and fairly pretty
Take us on outings, give us treats
Sing songs, bring sweets

Never be cross or cruel
Never give us castor oil or gruel
Love us as a son and daughter
And never smell of barley water

If you won't scold and dominate us
We will never give you cause to hate us
We won't hide your spectacles so you can't see
Put toads in your bed or pepper in your tea

Hurry owner, thanks a ton
Sincerely, Al Yellon

by Thelonious on Oct 22, 2007 12:00 PM CDT reply actions  

Thanks Al.
Great recap of possible owners. I've never wanted Cuban...ever.
I'd like Geovany Soto to catch for me everyday. ;-)

by sue369 on Oct 22, 2007 12:21 PM CDT reply actions  

Thanks for a thoughtful analysis
Al, that is the most thoughtful analysis I've seen on the issue of Cubs ownership. Here's my two cents:

Unfortunately, fan loyalty is likely to be punished. The Cubs make a lot of money, by all reports. They certainly fill a lot of seats. It wasn't until the White Sox started to pass the Cubs in attendance that TribCo reacted with the winter 2006-2007 buying binge. And this season the Cubs set another new attendance record.

By ordinary business standards, the Cubs don't need to win a WS to be financially successful. They have proven it for years. If they are sold to the highest bidder - what Zell likely wants - we're likely to end up with a soulless, bean-counting owner who judges success by internal rate of return on the investment. You can practically see the spreadsheets being refined right now.

For Cubs' fans to win, the new owner has to be someone who will do whatever its takes to get a winner. Not the highest bidder; the best bidder. Not someone who will budget 20 mills from the IRR to player development. Instead, someone who is willing to lose money, if that's what it takes, to get a winner. Viewed from that POV, Colangelo's financial mis-management of the Snakes almost makes sense.

You almost persuade me that Levin is the best choice. But I'm more interested in the commitment, and I haven't heard that from any of the identified candidates.

by AlaskaFan on Oct 22, 2007 12:32 PM CDT reply actions  

Perhaps not
You seem to indicate that a Canning ownership that act akin to the way the Trib did will be acceptable to the fans.

I do not think so.

Fans stoped showing in 06 and the Trib got some kind of message and at least in theory tried to do something about it.

Now maybe as has been speculated the Trib did so knowing that the Cubs would ultimately be on the block.  But still the took action.

Let a new owner just sit on the Cubs and take minimal action and I would wager you will see a large amount of empty seats.

Just my guess.

My God that one is going to land in Milwaukee - Lou Boudreau describing a Dave Kingman home run in the Cub/Phillie 23 to 22 game in 1979.

by cjn54 on Oct 22, 2007 2:53 PM CDT up reply actions  

Colangelo
All I can say about Jerry is that he has one more World Championship than the Wrigleys and Tribco.  I watched him as general manager of the Phoenix Suns throughout the 80's and he built a classy organization there.  The trouble was that they almost never had a completely terrible season and so they weren't in the lottery very often.  I think he learned from that and took advantage of free agency in baseball to get the pitchers he needed, and paid the price, to win the big one.  Besides, it was great to see the Snakes beat the Yankees.

But watch Cuban.  He could potentially put a number on the table that couldn't be refused.  Kinda like the Godfather.

I want my Macias!

by wombat on Oct 22, 2007 12:52 PM CDT reply actions  

I know Colangelo made a mess but...
...what the heck was he supposed to do. Their revenue hopes in AZ are dismal. I don't think anyone realized that before 2001. What happened this year is as good as it gets in AZ. Take young players while they are cheap and hope you don't run into a team that is playing well. I still can't believe how little fan support they get there. If Colangelo did that here, he would've been held up as a hero.
"You know what? You want a job? Go out and earn one." Sweet Lou

by Kyle Turney on Oct 22, 2007 2:58 PM CDT up reply actions  

Levin!
I've been clammoring for Don to be considered for either one of two teams; the Cubs and Blackhawks for some time now.

I see him 8-10 times a season at the Horizon (can't bring myself to call it by it's corporate sponsored name) and he's always interacting with the fans. Often Wayne Messmer is there with him along with Kevin Cheveldayoff.

On this topic back in 2002 during the Calder Cup finals I had a chance to ask him about major league ownership opportunities. Of course the Cubs were strongly in the grasp of the Trib but not too many people knew at the time Bill Wirtz was already rumored to be considering selling the Blackhawks due to the upcoming CBA issue, that eventually wiped out an entire season.

Between the 1st and 2nd OT's of the eventual title clinching game he told many of us he would absolutely love to own one of the major league franchises in the city; having mentioned how he grew up going to Wrigley and Chicago Stadium. He then went back out to the hallway to suck down a few more cigarettes.

Don can assemble an ownership team in the blink of an eye but I fear that the Bud-Light old-cronies club (that includes Canning and McKenna), will win out.

While I would love to see Don Levin own the Cubs it just seems like there's other powers at work.

Our grandparents used to say, "I hope the Cubs win the Series before I die". Now teenagers are saying it. Let's change that next season!

by blackhawk24 on Oct 22, 2007 1:26 PM CDT reply actions  

Question
Has Canning (or anyone in his group) publicly stated "I want the Cubs!!!!"?

It almost seems like Bud is trying to steer this toward his pre-conceived conclusion without having someone who has a passionate deisre to be a majority owner.  While Levin sounds like the best choice, I'd take Cuban or even George Steinbrenner over someone who is trying to convince himself that it would be a sound business investment.

The thing that scares me about Colangelo is that his pockets aren't that deep, so he has to walk a tightrope among the partners to remain in control as a minority owner.  This is a much bigger factor in MLB than NBA due to the player development expenses.

"I've never complained about it. I'm thankful to have a jersey." Mark DeRosa, 22 Aug 2007

by DeRoMyHero on Oct 22, 2007 1:29 PM CDT reply actions  

I've heard that to be the case
at least on news reports across the networks. Don't know if their statements reflect the multiple exclamation marks though.

There are rumors of about 20 high profile people in Canning's group including Duchossois (Arl Park).

One potential group not discussed here yet is the Ricketts family out of Omaha, founders of Ameritrade, now TD Ameritrade.

It'll be interesting to see how this plays out from a pure money perspective. Henry and his team were not the highest bidder for the BoSox in 2002. I've heard highest bidder, even by a margin, isn't even close to a shoe-in.

Our grandparents used to say, "I hope the Cubs win the Series before I die". Now teenagers are saying it. Let's change that next season!

by blackhawk24 on Oct 22, 2007 1:52 PM CDT up reply actions  

Yeah
Why isn't Ricketts mentioned?

by NO100 on Oct 22, 2007 2:02 PM CDT up reply actions  

No, Canning has not
and that's why he's considered the favorite.  It's been a long-standing policy of MLB that potential owners should not discuss the process in the media.  The Lerners in Washington were the group that didn't even talk to the media--heck, they didn't talk to the city council.  Moreno in Anaheim, Attanasio in Milwaukee, even Frank McCourt in LA--none of them made any statements to the press until after the sale was finalized.
The artist formerly known as JoshinLA

by Josh Timmers on Oct 22, 2007 4:01 PM CDT up reply actions  

Which is why...
... Cuban has zero chance.

Levin's given a couple of interviews, as noted, but mostly along the lines of "sure, I'd be interested if they're on the block".

I'm guessing Levin's bid gets taken seriously, Cuban's doesn't.

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

by Al Yellon on Oct 22, 2007 4:15 PM CDT up reply actions  

it's all about capitalization
Excellent commentary, Al.

I don't know Levin, I'd like to know his capitalization. We know that Cuban has the money and is willing to spend it. We know that Canning may have the money but has a history of not spending but  cutting. Also he is connected to the Great Pirate,
Bud, I stole the Pilots, Selig. That is a huge negative to me.

I have less negative feeling toward a Cuban purchase. I don't care if he is self-centered as long as he is willing to work to get the Cubs into the series. His history with the Mavs is positive, the fact that they haven't won isn't cogent as so much of being successful in the playoffs is getting hot at the right time. Last years Cards are a perfect example of that, a decent if not good team that got hot when they needed to.

I don't know Levin. He may be rich but is he rich enough to buy the team and improve it? How far will his cash stretch? It was heartening to see so many positive comments especially from Bruce Miles. You closer to the scene have a better perspective than I do.

Whoever buys the team I would only hope that they keep Lou around and beef up the minor league and scouting staff. The future grows player by player from within.

Bubba
Yeah that Bubba

by bubbamike the one and only on Oct 22, 2007 1:56 PM CDT reply actions  

One question about Levin
Does he have ENOUGH money?  I'm sure he could get the proper package in place to buy the Cubs, but operationally, the new owners may, at times, have to operate in the red, often for millions of dollars a year.  

Could he be scared off from making moves because of the operational risk they pose?    

by NO100 on Oct 22, 2007 2:01 PM CDT reply actions  

It sounded like it...
... based on the comment he made to Mike Downey, that he could close the sale in 90 days.
"That's my opinion and if you don't like it, well, I have others." ~ Groucho Marx

by Al Yellon on Oct 22, 2007 2:02 PM CDT up reply actions  

There are actually two questions here...
...how much assets he has, and how much liquidity he has. Even if he has the assets, if he can't liquidate them as quickly as some of the other bidders he could lose -- cash being more valuable to the Tribune than, say, stock options Levin may have.
FREE CARMEN PIGNATIELLO!

by cwyers on Oct 22, 2007 2:12 PM CDT up reply actions  

Right.
But he made it sound like he DOES have the liquidity. Sounds like he's been counting his pennies for decades just for an opportunity like this one.
"That's my opinion and if you don't like it, well, I have others." ~ Groucho Marx

by Al Yellon on Oct 22, 2007 2:20 PM CDT up reply actions  

You know frankly...
 the same question would have to be asked about Cuban. We presume much due to the Mavericks. But really, with the new ventures (including his start-up HDTV project) is the ability to raise upwards of a billion dollars really there? And in a payment structure that would be available to someone such a Levin, who at least says he could structure a mostly cash deal?

by Damen Jackson on Oct 22, 2007 2:09 PM CDT up reply actions  

Based on what I hear from some folks
who are in the know around the Horizon, Mr. Levin has as much financial resources as Mr. Cuban.  

I would like to think that him being local will have a significant impact here.

Our grandparents used to say, "I hope the Cubs win the Series before I die". Now teenagers are saying it. Let's change that next season!

by blackhawk24 on Oct 22, 2007 2:20 PM CDT up reply actions  

Cuban is 161 on the Forbes 400...
at a net worth of $2.6B. Forbes 400

Neither Levin nor Canning is listed. But both are presumed to have access to co-investors with plenty of backing.

by bison on Oct 23, 2007 12:47 AM CDT up reply actions  

Just asking ??
Does any one really think that the Cubs and Wrigley will fetch a billion $$??

Honestly how much do you think the Cubs will go for??

My God that one is going to land in Milwaukee - Lou Boudreau describing a Dave Kingman home run in the Cub/Phillie 23 to 22 game in 1979.

by cjn54 on Oct 22, 2007 2:57 PM CDT reply actions  

Yes, I do think so.
Between the real estate and the club, I think $1B isn't unreasonable.
"That's my opinion and if you don't like it, well, I have others." ~ Groucho Marx

by Al Yellon on Oct 22, 2007 3:16 PM CDT up reply actions  

The interesting
mix is the Arlington Park owner in the Canning Group.  This may reduce some of the leverage of Zell.  If he decides to sell Wrigley first and separately in order to get leverage, the Canning group could well low ball the offer knowing that the only other bidder would be the owner of the Field and that MLB would not approve him.   And then, when Cuban tries to force the deal to become at least a partial owner in exchange for a right to use the park, the Cubs end up moving out to Arlington Heights.  

I don't think that this is likely, but I think its at least in the realm of possible.

by frustratedfan on Oct 22, 2007 5:26 PM CDT up reply actions  

Yup
A billion if it's truly the highest bidder. It may not be, just as the BoSox in '02.

Hey, you sure that was Boudreau that said "God". He was a very religious and polite gentleman (my dad knew him from the Kiwanis Club in the 60's and his days traveling to Cleveland when Lou was player/manager there in the 50's) he would likely never say that. For many of us around at that time when Mike Schmidt was with the Phils, he would never say, "Schmidt" 'cause it was so close to the word we use for poop, he would say "Smith".

Our grandparents used to say, "I hope the Cubs win the Series before I die". Now teenagers are saying it. Let's change that next season!

by blackhawk24 on Oct 22, 2007 3:18 PM CDT up reply actions  

Maybe I have it slightly wrong
but I remember King Kong hitting a shot that landed down the street behind the left field bleachers and I can remember that on several occasions that Lou would state when Kingman would go real deep that the ball would land in Milwaukee.

I thought that Kingman hit a slam in the 6th or 7th inning of that game and that was what he said.

My aplogies if I got it wrong, if so I will try and change it.

Man did I enjoy growing up listiening to Vince and Lou call Cub games.

My God that one is going to land in Milwaukee - Lou Boudreau describing a Dave Kingman home run in the Cub/Phillie 23 to 22 game in 1979.

by cjn54 on Oct 22, 2007 3:51 PM CDT up reply actions  

I don't think on it's financial merits...
 alone that the Cubs would be worth it, no. I do suspect though that the deal commands easily a 30% Goodwill premium, so I don't think 900 million plus is out of the question.

by Damen Jackson on Oct 22, 2007 3:23 PM CDT up reply actions  

Of course you realize Al
That Sam Zell couldn't give a flying fig what owner is in the best interest of the Cubs. All he cares about is which owner brings the most cash to the table--that's why he's selling.

Levin has no chance to own the Cubs unless he can outbid Canning and Cuban.

The artist formerly known as JoshinLA

by Josh Timmers on Oct 22, 2007 3:57 PM CDT reply actions  

But you're forgetting...
... the fact that MLB has a say in who owns the Cubs. It's NOT necessarily the guy who has the most dollars.

Plus, Levin, as noted, can pay cash. Can Cuban and/or the Canning group?

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

by Al Yellon on Oct 22, 2007 4:01 PM CDT up reply actions  

I don't think
MLB has as much say over the process as some think.  I think they can blackball Mark Cuban if they want, but I really don't see Bud Selig taking your arguments against the Canning as a reason to strike him down and tell him to sell to the Levin group.

One example:  I don't think MLB was very enthusiastic about Frank McCourt buying the Dodgers.  But Fox presented MLB with a fait accompli and told them it was going to happen, despite Eli Broad coming in at the last minute to save the team from McCourt's ownership.  Now NewsCorp has more influence over MLB than the Tribune does, but it's not going to be easy to block an owner just because they want someone else.  The other 29 owners aren't going to go for that because they may want to sell someday.

The Nationals and Red Sox sales were special cases.  The Nationals because they were owned by MLB and they could sell to anyone they wanted.  The Red Sox were being sold by the Yawkey Trust, who had hired a close Selig friend in John Harrington to handle the sale.

http://roadsidephotos.sabr.org/baseball/bb02-1.htm

Selig simply doesn't have that kind of influence with Sam Zell.  This is going to be a lot more like the Dodgers sale than the Red Sox or Nationals sales.

The artist formerly known as JoshinLA

by Josh Timmers on Oct 22, 2007 4:13 PM CDT up reply actions  

No, I don't think ...
...they can TELL Zell (not Canning) to sell to the Levin group instead of Canning. But I'd like to think that any serious buyer -- and I think Levin is -- would get serious consideration, both by Zell and by the other owners. It's not like Don Levin doesn't already know the principals -- he's a pal of Reinsdorf's, as noted in Mike Downey's article.
"That's my opinion and if you don't like it, well, I have others." ~ Groucho Marx

by Al Yellon on Oct 22, 2007 4:18 PM CDT up reply actions  

As I said
If Levin can outbid Canning, the Cubs are his.  I have no idea if he will or not.  Or if someone else will.

He'll be taken seriously.  But all his friendship in the world with Jerry Reinsdorf isn't going to help him if his bid comes in below the Canning group.  Zell doesn't care about making Selig or any other owner happy.

I agree with you that Cuban is probably not acceptable to MLB and that the other owners will move to block him.  But beyond him, I think whoever is the highest bidder gets the team.

The artist formerly known as JoshinLA

by Josh Timmers on Oct 22, 2007 4:46 PM CDT up reply actions  

Al, great analysis....the most important concern
is what Canning does for a living. He runs a privite equity firm which main purpose is to maximize his partners return on capital invested which he has been incredibily successful at.

This alone is a red flag as a potential owner for fans.

The even scarier part is he has unlimited financial resources with partners like Michael Krasny (one of the richest men in the US) Duchossois, Larry Levy etc.

Let me get back to you, will ya, Charlie? I got a guy on the other line asking about some white walls.

by JB 23 on Oct 22, 2007 6:04 PM CDT up reply actions  

Great summation
Canning would be disastrous, but I wouldn't have a problem with Cuban. Having a loudmouth as an owner didn't hurt the Yankees, and can also have the effect of taking the pressure spotlight off the players. But there is no question in my mind that the poor scouting and chincy minor-league system have been a major cause for the Cubs' championship drought. This past season included.
Tinker to Evers to Chance.

by Matt Allison on Oct 22, 2007 4:39 PM CDT reply actions  

Couldn't agree more on Canning
Why would anyone want one of the Brewers owners to own the Cubs?  If this guy Canning is going to be our savior, why have the Brewers been letting talented players leave all these years?  Why have they failed to sign any major free agents?  

Granted, they are good now because they consistently drafted in the top 4 of the first round (meaning, finished in the bottom 4 records year-after-year-after-year) and finally got some talented, CHEAP players.  But that team has shown no inkling of investing in players to put them over the top.

Why would anyone want the Cubs to take on some of that?

by Orval Overall on Oct 22, 2007 10:16 PM CDT reply actions  

Glad to see you
haven't drunk the Canning koolaid. As much as we complained about the Trib's lack of urgency about the Cubs future, I fear his venture capital history would make our lives miserable for the next 30 years.

Levin seems an obvious choice to entrust our team. And while I don't agree with your revulsion at Cuban, let's just hope Selig hasn't already primed the pump for his buddy.

However, despite Levin's assertion that he has no problems with a $600M price tag, $1B is a ton of money for anyone. I can't imagine any of the suitors have that much cash available. Financing will be essential in any purchase and with the credit markets still very tight as a result of the sub prime meltdown, balance sheets will be a critical factor.

Finally, the possibility that FCC Chairman Martin will use the Trib sale hostage to a GOP sellout ought to evoke a storm of criticism.

It's not to late to go to Soto.

by tharr on Oct 23, 2007 1:48 AM CDT reply actions  

Excellent summary Al
this is lining up to be one of the most interesting Cub offseasons in recent memory.  

The most important next step is going to be the Trib releasing "the book" on what they are actually going to include in the transaction.  When this occurs, you may see a group or two drop out of contention and possibly one or two become more prominent.  The mix of personalities (Cuban, Zell, Selig, Reinsdorf, etc.) will make this issue even more fun to watch, as they all jockey for position.

IMO, Zell could care less about sports, he is a businessman and wants to make the best deal possible.  Add in Cuban, who could very well make an offer that the other potential cadidates would be unwilling to match and then the fun will really start.

At this point in time, it's really difficult to asses who has the upper hand until the groups are willing to put real bids on the table against the assets for sale.  There is one thing for sure, you will see some sparks fly before this whole thing is settled, and I would agree that you could do a lot worse than Levin.

"I don't like them fellas that drive in two runs but let in three" Casey Stengel

by MPH73 on Oct 23, 2007 10:10 AM CDT reply actions  

Great Work Al!
This is a very convincing summary, Al.  Thanks for being such a loyal Cub!

Agreed... Mark Cuban would be fun for a while, but only in a one night stand sort of way.  Yeah, it would be awesome to watch him throw back a homerun from the bleachers, but would we really respect ourselves in the morning??

I want an owner I can grow old with, not just some arm candy of the day!

"They (Expos fans) discovered 'boo' is pronounced the same in French as it is in English." -Harry Caray

by IowaCubs- on Oct 24, 2007 11:02 AM CDT reply actions  

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