Tribune Company Sold, Cubs Next

by Al on Dec 21, 2007 8:46 AM CST in News Comment 70 comments

So.

Tribune Company's sale to Sam Zell is a done deal, and at least one of you yesterday wondered why I didn't mention it myself, didn't make a front page post, let it go unmentioned.

Why did I do this? Because nothing happened to the Chicago Cubs yesterday. We all knew this deal was coming, and the Cubs have been on the market since last April. We did learn that Zell intends to complete the sale of the team by Opening Day; that's a pretty tight time frame, especially considering that MLB approval is needed. Implicit here is the possibility, since the time frame IS so tight, that a backdoor deal is already done, or close to being done. That might not be good news for us as fans, since that implies that insider John Canning and his group are the frontrunners. I went on record two months ago as saying I was not in favor of Canning's group, and would rather see Don Levin, owner of the AHL's Chicago Wolves, buy the Cubs.

This will all play out over the next couple of months, and if and when I learn more, I'll post it. Though Zell was quoted as saying, in the Tribune link above, that major changes were to be afoot in the Tribune Co. itself, I would not expect any such changes for the Cubs -- not immediately, and maybe not even after a sale. A good comparison would be to the sale of the Boston Red Sox, which occurred either late in 2001 or early in 2002. When they were sold, virtually everyone working for the Red Sox remained in place. Only GM Dan Duquette -- who was under fire and not well-liked -- was let go. What new ownership did, instead, was increase staffing, and that's what the Cubs need, because they are either 29th or 30th (depending on how many people the Marlins are employing this week) in year-round, fulltime staffing among major league teams. Plus, any new owner would be a fool to replace the marketing department, which has been among the most successful anywhere in professional sports.

About Zell, I'm more concerned that he's hired a guy, Randy Michaels, to run Tribune's broadcast operations who once created a radio format called "Power Pig" and who briefly renamed a Chicago radio station "Hell"; he's often had his radio people go on the air with direct attacks on competitors (according to that Feder article, Michaels had a contest in Chicago in which his station "offered prizes to listeners who could repeat the phrase "B96 sucks" as many times as possible in less than 10 seconds."). What this means to the future of WGN radio and TV -- who knows, but that's not the way they've been run in the past.

And as for the Cubs, the next order of business is to see if more offense can be added, not to see who's going to be running things, since the latter isn't changing, at least for now.

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So you did make a post!

I knew you couldn't resist.

Seriously, I don't expect any changes in the Cubs' organization in the near term from Jim Hendry on down on the baseball side, and from Mark McGuire (?) on down on the business side. I mentioned Crane Kenney in my post yesterday because although he is fulfilling the duties of the vacant team president role, he is an upstairs TribCo suit. Those are the kind of guys that new TrbiCo ownership are going to scrutinize first and are most vulnerable to near-term replacement.

But if Zell really thinks the team will be sold in three months, there's not much point making any changes in personnel, unless it's necessary to grease the wheels for deals (like renaming) that help the new TribCo but not the future owner of the Cubs.

Why does everybody stand up and sing "Take Me Out to the Ballgame" when they're already there? ~Larry Anderson

by JohnM on Dec 21, 2007 8:38 AM CST reply actions 0 recs

I doubt you'll see Kenney replaced, either.

What would be the point? When new ownership comes in, then there will be a new team president.

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

by Al on Dec 21, 2007 8:45 AM CST up reply actions 0 recs

Whomever is the new owner

it would be great to allow our voices to be heard in influencing ownership to continue to court the BEST players, and try its hardest to become a winning organization.

It took the removal of Andy McFail, to a large degree, to get these kind of wheels FINALLY in motion.

I hope the new owners will be on board with the sentiments of the fans.

Wait 'til next year. And the next. And the Next. And the next after that too.

by TheEman on Dec 21, 2007 9:06 AM CST up reply actions 0 recs

Agree

Zell wants to change the culture of Tribune company quickly and that does mean guys like Kenney will be out the door in the near term.

Even if the club is sold by opening day (which I doubt, unless something has been brewing under the table) nothing will happen to any Cub personal in 08. As I have stated before, Hendry is the one on the hot seat and with the money they have spent in his tenure, it will take winning at least one playoff series to give him a decent chance of coming back.

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

by MPH73 on Dec 21, 2007 9:53 AM CST up reply actions 0 recs

Agreed on Hendry.

However, I'm not so sure you can say that about Crane Kenney. The articles I've read do say that Zell is going to examine every single person who works there (well, that's a big job, but surely all the executive slots will be), but that doesn't mean Kenney is necessarily out the door tomorrow, or even out the door before the Cubs are sold.

Again, I figure Zell realizes that Kenney knows how the Cubs work, and he's likely to leave him in charge of the Cubs until they're sold.

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

by Al on Dec 21, 2007 9:59 AM CST up reply actions 0 recs

I agree Al

When I meant near term, I was talking months not weeks. I wouldn't think Zell would push Kenney out until the team was in new owners hands.

Once the new owner is official, the first thing they will do is hire a team President. Chances are the prospective buyers already have that person identified. The majority of the time, a president wants to put his stamp on the team and he may do that quickly, or take time to evaluate what is already here. I wouldn't think anything major happens until the end of 08.

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

by MPH73 on Dec 21, 2007 10:19 AM CST up reply actions 0 recs

Agreed.

Had McDonough stayed with the Cubs, I'd have thought he'd be a candidate even with new ownership.

That said, you're right, whoever comes in will likely already have their person chosen. Who that will be, is anyone's guess.

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

by Al on Dec 21, 2007 10:23 AM CST up reply actions 0 recs

McDonough may have had

an outside chance staying on as president, but I think he would have been guaranteed at least a senior level position back in the marketing area.

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

by MPH73 on Dec 21, 2007 10:35 AM CST up reply actions 0 recs

like that comment...

something brewing under the table.

It's Chicago, something is ALWAYS brewing under the table. And I wouldn't be surprised to see Daley with his hand in there extracting the wort.

Sad to say and I sure hope I'm wrong, it's gonna be Canning and his cronies coming in, to the utter delight of Bud Light and his entourage (e.g. Reinsdorf).

My rebuttal is two words: DON LEVIN!

Unfortunately as I understand, Don wasn't on the list of potential owners that were allowed to peruse the Cubs' books.

Our grandparents used to say, "I hope the Cubs win the Series before I die". Now the teenagers are saying it.

by blackhawk24 on Dec 21, 2007 10:08 AM CST up reply actions 0 recs

I wouldn't assume...

... that said list is closed forever; Zell, now that he's officially in charge, could certainly let others besides the ones who have already done so, peruse the books.

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

by Al on Dec 21, 2007 10:18 AM CST up reply actions 0 recs

Not the removal...

resignation.

Wait 'til next year. And the next. And the Next. And the next after that too.

by TheEman on Dec 21, 2007 9:06 AM CST reply actions 0 recs

Removal/resignation

High level execs that are removed are often given the choice to resign to save face in business as well as politics.

I think Fitzsimons got tired of the losing.

by Shanghai Badger on Dec 21, 2007 9:11 AM CST up reply actions 0 recs

Losing?

Fitzsimons got a $33 million golden parachute. That sounds like a pretty good victory to me.

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

by Al on Dec 21, 2007 9:23 AM CST up reply actions 0 recs

HA HA!

I believe he was saying Fitz got tired of McFail's losing...

But he didn't have his nose bloodied either!

Again, I hope, with every fiber in my tattered clothes, that Zell selects the absolutely best possible new ownership group for the BENEFIT OF THE FANS. There is no reason why the team cannot be profitable, while still being "in the hunt" every single year.

Wait 'til next year. And the next. And the Next. And the next after that too.

by TheEman on Dec 21, 2007 9:30 AM CST up reply actions 0 recs

Agreed on your last point, 100%.

n/t

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

by Al on Dec 21, 2007 9:40 AM CST up reply actions 0 recs

Zell

is a business man first. I doubt he cares the least about the desires of the fans. The only way fan influence will be a factor is after the sale is complete. Even then the new owners may not kowtow to the extremely vocal but small minority of fans with the emotional attachment of BCB readers. All we can do now is to wait and hope for the best.

And so it goes.

by Luigi on Dec 21, 2007 9:44 AM CST up reply actions 0 recs

Yes, that's what I was saying

as support for the assertion/implication that MacPhail was actually let go.

I like the sentiment of the second point, but as someone's already replied, Zell's a businessman. He's not concerned about finding a fan's owner.

by Shanghai Badger on Dec 21, 2007 9:57 AM CST up reply actions 0 recs

Zell

is interested in nothing but the bottom line. He said as much in his press conference, something like I'm not interested in tradition, I'm interested in money.

Expect lots of layoffs at the Trib.

The sooner he sells the Cubs the better.

by Clark Addison on Dec 21, 2007 10:19 AM CST reply actions 0 recs

What Zell hates as much

as losing money, is the stuck in the mud corporate culture that a lot of critics felt hampered the Trib for years. Zell doesn't go by the old corporate book, can't stand stuffed shirts and will see that this type of culture is removed quickly.

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

by MPH73 on Dec 21, 2007 10:23 AM CST up reply actions 0 recs

Naming rights in the mix too...

Don't know if this has been mentioned yet but...

The company also may sell naming rights to Wrigley Field...

Based on transactions at other ballparks around the country, such rights could be "extraordinarily valuable," he said.

"...the Sox ... may be even more marginal after the Cubs win the 2007 World Series." - Cubbie fan "Joe Alberti" as posted in the White Sox NG on 9/21/2007.

by DrCrawdad on Dec 21, 2007 10:20 AM CST reply actions 0 recs

Yes, here...

It was and is being discussed here.

"...the Sox ... may be even more marginal after the Cubs win the 2007 World Series." - Cubbie fan "Joe Alberti" as posted in the White Sox NG on 9/21/2007.

by DrCrawdad on Dec 21, 2007 11:34 AM CST up reply actions 0 recs

How can Zell sell

naming rights to Wrigley and then sell Wrigley? Who gets the $$ from naming rights?

Zell is trying to squeeze maximum $$ from the sale of the Cubs, and by threatening to sell Wrigley separately and/or naming rights, he's forcing up the price of the package.

He's all about the bottom line.

by Clark Addison on Dec 21, 2007 11:03 AM CST reply actions 0 recs

Right now Zell is trying to get cash...

...out of some of Trib's non-core assets (i.e. the baseball team) to pay down the Tribune's debt -- because in the event of a sale all of the Tribune's bonds must be paid off. Zell needs cash to pay off the debt, and the Cubs are one major asset that he can make liquid a lot quicker than others.

I would suggest you learn to truly interrupt all stats before using any selective stats. -- cubswin

by cwyers on Dec 21, 2007 11:33 AM CST up reply actions 0 recs

So...

Nothing happened other than the new CEO announced a fast tack sale process which could be bad for the fans if a sweetheart deal is already in place?

What's next? You gonna tell us you remember seeing your dad march with Dr. King?

by Ivychat on Dec 21, 2007 11:10 AM CST reply actions 0 recs

There will be no "sweetheart deal."

Zell wants large amounts of liquid assets because the Tribune is currently paying off karma (in this case, bonds) at an accelerated rate.

Not saying that couldn't also be bad, but I doubt he'll sell the Cubs just to remain chummy. He needs cash.

I would suggest you learn to truly interrupt all stats before using any selective stats. -- cubswin

by cwyers on Dec 21, 2007 11:35 AM CST up reply actions 0 recs

You can be assured

Zell could give a rat's behind what Bud or major league owners want. He will do everything in his power to see he get's the highest bid possible for the club.

This may mean some sparks fly between MLB and Zell, and this is going to be fun to watch.

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

by MPH73 on Dec 21, 2007 11:42 AM CST up reply actions 0 recs

Zell doesn't necessarily want...

...the largest bid either. He wants the most cash possible as quickly as possible. He'll likely take a lower offer if it means getting more liquid assets (things like straight cash money, bonds, etc.), and he wants this deal done quickly so that he can start paying off the Trib's debt.

I would suggest you learn to truly interrupt all stats before using any selective stats. -- cubswin

by cwyers on Dec 21, 2007 12:13 PM CST up reply actions 0 recs

I would imagine

Zell is going to tell folks to not bother bidding if they aren't paying all cash at closing.

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

by MPH73 on Dec 21, 2007 12:15 PM CST up reply actions 0 recs

Let me crack open my piggy bank then

Ed Lynch is STILL on the Cubs payroll, as our D-Backs scout in Phoenix. Lynch attends all 81 D-Back home games with a notepad in hand. Really paid off for us!

by SackMan on Dec 21, 2007 12:24 PM CST up reply actions 0 recs

Cubs still in on Brian Roberts

And Zell wants to sell naming rights to Wrigley? Oh my.... terrible.

http://mlbfleecefactor.com/2007/12/21/friday-rumors-and-grumblings-roberts-joba-more/

by ET90210 on Dec 21, 2007 1:15 PM CST reply actions 0 recs

Bruce Levine Speculates...

... The Cubs will deal Marquis to the Mets; the Orioles will send Brian Roberts to the Cubs by Jan 4, 2008; the Cubs will bring in Jon Lieber as a starter (if he can still pitch).

Wow.

This is the Cubs new #1!

by initram on Dec 22, 2007 2:47 PM CST up reply actions 0 recs

lieber!

boo ya.

Kevin Hart Watch: IP: 11 K: 13 ERA: 0.82 WHIP: 1.00 K/BB: 3.25 a productive farm system is a wonderful thing.

by kylejo on Dec 22, 2007 4:34 PM CST up reply actions 0 recs

ok im kidding

lieber would be a nice #5, but he's been dying a slow death and his upside looks to be league average.

Kevin Hart Watch: IP: 11 K: 13 ERA: 0.82 WHIP: 1.00 K/BB: 3.25 a productive farm system is a wonderful thing.

by kylejo on Dec 22, 2007 4:37 PM CST up reply actions 0 recs

Cuban has

Cash.

Wait 'til next year. And the next. And the Next. And the next after that too.

by TheEman on Dec 21, 2007 1:17 PM CST reply actions 0 recs

Ayup.

And the Trib is currently the corporate equivelent of a gambler who's in deep to his bookie and has until next week to pay everything back or he loses a thumb. And if you leaf through Sam Zell's bio, he didn't get to where he is today by playing nice with folks like Bud Selig. This could get interesting.

I would suggest you learn to truly interrupt all stats before using any selective stats. -- cubswin

by cwyers on Dec 21, 2007 1:19 PM CST up reply actions 0 recs

What's up, Buster?

As in ESPN's Buster Olney...

In today's column he talks about how teams should just say No to PED-using players. Interesting idea but doubtful of it happening. But what makes this column comment-worthy is all the quick bits and links added on. He touches on some of the same news that Al and others here already have, but also many more topics in the baseball news today.

Take a gander if you've got some time to kill - I like the one about Santa Claus asking Omar Minaya if the Mets are going to get another starting pitcher. Here's the link - don't let the Insider part scare you - this one's a freebie.

http://tinyurl.com/23qczw

Lou Brown: "My kinda team, Charlie, my kinda team..."

by ballhawk on Dec 21, 2007 3:20 PM CST reply actions 0 recs

What's important to the Cubs

More so than the signing of Fukudome or Zambrano or Ramirez is the selection of next owner. Those of us with long memories can well recall the futility of watching a poorly run organization try to compete for championships.

As such, it appears that Zell has no other motive in selling the Cubs than making money. He could care less about the Cubs fans feelings. Money talks. And cash talks loudest. While he may give some access to the good old boys, I'm convinced that at the end of the day, the buyer with the most cash on the table will be the winner.

This from a recent article

Canning also entertained a question asked by one of the pension's staff members on the sales of Wrigley Field and the Chicago Cubs, which he is a leading candidate to buy."[Wrigley Field is] a good deal for Sam Zell, but not a good deal for the buyer of the team," he said.

Since Canning is a venture capitalist, he lives and dies by debt financing. In a way, he's just like Zell. This may limit his ability to offer a sweet deal with a lot of cash upfront. And remember, Canning isn't a devout Cub fan who has an urgency to own the club. On the other hand Cuban would seem to be a better fit for the sale due to his cash position. He's more likely to be flexible in the buyout terms, perhaps even integrating his entertainment industry background with Zell's declining empire.

The fly in the ointment is Selig and the good old boys. Imagine Zell receiving a better offer from someone other than Canning. He goes to Selig and tells him and Bud insists it's in the best interest of baseball that Canning's bid be accepted. That could very well be the scenario come March 15, 2008.

If you like Selig's handling of the steroid issue, you'll love his choice for next Cub owner.

by tharr on Dec 21, 2007 3:21 PM CST reply actions 0 recs

That's what I want to know.

Of all the prospective buyers of the Cubs, who can offer the most money up front and let Zell be on his merry way? Cuban?

I reject your reality and substitute my own. ` Adam Savage Mythbusters

by lemon20pie on Dec 21, 2007 4:03 PM CST up reply actions 0 recs

Actually...

... based on what I've read in the past, Don Levin probably has the most available cash. Isn't Cuban's money pretty highly leveraged into HDNet right now?

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

by Al on Dec 21, 2007 4:41 PM CST up reply actions 0 recs

If I had a dollar

for everytime Al promoted Don Levin as the new Cubs owner, I'd have enough money to put in a bid on the team. ;-)

I know you're anti-Cuban (I'm pretty neutral Cuban) but you do realize, Al, that if Cuban buys the team, he's likely to be on this site giving you interviews and doing Q and A's?

Good to know that Al can't be bought with access!

The artist formerly known as JoshinLA

by Josh77 on Dec 21, 2007 5:15 PM CST up reply actions 0 recs

I think Al does indeed realize that -

ergo the anti-Cuban sentiment. Let him stroke his ego on Dancing With the Stars, not on BCB or WGN or anywhere near Chicago

"I got mad hits like I was Rod Carew!"

by lostinthevines on Dec 21, 2007 5:22 PM CST up reply actions 0 recs

That said -

Cuban would indeed breathe some life into the sports scene here in town.

"I got mad hits like I was Rod Carew!"

by lostinthevines on Dec 21, 2007 5:23 PM CST up reply actions 0 recs

Be careful what you wish for lost

I'd rather have a flaky egomaniacal owner like Cuban than a bottomline, emotionally unattatched owner like Canning. Anyday.

I reject your reality and substitute my own. ` Adam Savage Mythbusters

by lemon20pie on Dec 21, 2007 5:25 PM CST up reply actions 0 recs

I'd rather have.....

... an owner who grew up as a Cubs fan just like we all did who also has the money to invest and is willing to do what it takes to win.

Thus, Don Levin.

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

by Al on Dec 21, 2007 7:34 PM CST up reply actions 0 recs

COLANGELO!!!

"I got mad hits like I was Rod Carew!"

by lostinthevines on Dec 21, 2007 7:53 PM CST up reply actions 0 recs

He'd be fine with me.

Although, there's that little matter of all the debt he ran up with the D'backs, which is why they pushed him out. I tihnk he's done with MLB.

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

by Al on Dec 21, 2007 7:55 PM CST up reply actions 0 recs

Not only that

I bet Al and Cuban would become good buds out there in the bleachers and after a couple Bud lights and a long day in the sun, Cuban would promote Al to head of baseball operations!

I reject your reality and substitute my own. ` Adam Savage Mythbusters

by lemon20pie on Dec 21, 2007 5:22 PM CST up reply actions 0 recs

I hope it happens then

because then I'd be pestering Al every day for a job with the farm system.

I'm a Cuban supporter now!

The artist formerly known as JoshinLA

by Josh77 on Dec 21, 2007 5:52 PM CST up reply actions 0 recs

And with Cuban as owner

It's inevitible that the traditional singing of the 7th inning stretch, would be replaced with the "7th inning bleachers wet T-Shirt contest" and then I could be the head "talent scout" for that!!

I reject your reality and substitute my own. ` Adam Savage Mythbusters

by lemon20pie on Dec 21, 2007 6:03 PM CST up reply actions 0 recs

Canning is right and

I'm sure all the potential buyers would agree. You would be buying the team with a locked in long term lease that would prevent you from getting a new park down the road. It limits your potential revenue. That along with long term deals with WGN radio also prevents you from getting competitive rates. Don't forget that the Cubs had sweetheart deals for the broadcasting rights that were favorable for the Tribune, not the Cubs.
I would think someone would only pay top dollar if they would be free to maximize revenues as they see fit, not locked into deals pre-arranged before the sale of the team.

by cubswin on Dec 24, 2007 10:59 AM CST up reply actions 0 recs

Who cares what the name of the park is?

Those who are worried about, let alone preoccupied with, the park being renamed are focusing their concerns on an irrelevant matter. If it puts more money in whomever's coffers - and as long as that money is used to improve the team itself - I, for one, couldn't care less what it's called.

And why wouldn't Zell keep the park? It's as much if not more of an ATM as the franchise that plays there. Sell the team, ergo relieving yourself of the liability, and keep the true asset - 1060 West Addison.

"I got mad hits like I was Rod Carew!"

by lostinthevines on Dec 21, 2007 4:30 PM CST reply actions 0 recs

I can't say how I know but...

I do have a little insight into this situation as it stands now.

I can assure you that nothing is brewing with John Canning's group at this time. I know this to be 100% true. As a matter of fact, Canning is discouraged with the current state of affairs regarding the sale of the Cubs. Not to say that something won't get done but it isn't done now and looks less likely than it did six months ago.

That is all that I can say so take it for what it is worth coming from an anonymous poster on a Cubs fan blog :-)

by amisaid1 on Dec 21, 2007 5:05 PM CST reply actions 0 recs

I actually

believe you. The Canning group has been very quiet lately. Most of the smoke has been coming from Cuban.

The artist formerly known as JoshinLA

by Josh77 on Dec 21, 2007 5:17 PM CST up reply actions 0 recs

If Zell sells naming rights

What happens to the Marquee? I know it's protected by the Historic Landmark status, but does that mean they can't change it to read "Best Buy Park at Wrigley Field"?

IMHO, naming rights are fine... just don't mess with the damn marquee.

There is no place like Nebraska - Go Huskers!

by sanantonecub on Dec 21, 2007 7:27 PM CST reply actions 0 recs

Mess with the marquee,

put a dress on the Harry statue and Weed-B-Gone the vines - just gimme a World Series

"I got mad hits like I was Rod Carew!"

by lostinthevines on Dec 21, 2007 7:55 PM CST up reply actions 0 recs

I Say They...

... trade "Marquee" to the Mets.

(sorry, I couldn't resist)

This is the Cubs new #1!

by initram on Dec 22, 2007 2:51 PM CST up reply actions 0 recs

Word

"I got mad hits like I was Rod Carew!"

by lostinthevines on Dec 22, 2007 5:25 PM CST up reply actions 0 recs

I'd imagine it could work something like this:

A logo above the marquee that says:

"XYZ Presents" or

"XYZ Welcomes You To"

I don't see why they have to actually call it "XYZ Park at Wrigley Field." How lame is that already? I'm sick of seeing that all over sports venues.

Ed Lynch is STILL on the Cubs payroll, as our D-Backs scout in Phoenix. Lynch attends all 81 D-Back home games with a notepad in hand. Really paid off for us!

by SackMan on Dec 22, 2007 7:25 PM CST up reply actions 0 recs

It is lame.

But again, I say: in what way does this change your experience of going to the ballpark. To me, it's 100% irrelevant.

Further, since I (and thousands of others) go in through the bleacher entrance in the outfield, we rarely if ever even see the marquee at Clark & Addison. Any sign there is lost on us.

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

by Al on Dec 23, 2007 4:34 AM CST up reply actions 0 recs

Everyone forgets that Zell is still a

minority owner of the White Sox. He can't own a stake in both teams. He is in a hurry to get this deal done ASAP.

Zell doesn't want to sell his piece of the White Sox, is my guess, just because of a short-term flip of the Cubs. He hates paying taxes and why take a minority discount for selling your White Sox stake when you are about to get a huge price for selling 100% of the Cubs and Wrigley Field (and maybe squeezing some naming rights out of the deal too)?

I am sure MLB will give Zell a short-term waiver for ownership of the Cubs during this transition period, but Zell has made it clear that he LIKES the way he owns his piece of the Sox--he has NO ROLE in management. Zell wants no role in the Cubs and he made that clear from day one--he wants a fast deal but he also wants top dollar.

There is no doubt that Zell is working more than one buyer (Zell hasn't gotten where he is by going down a single path). Canning may have the inside track with MLB, but Zell will have more than one bidder to make sure this moves fast AND fair and closes this spring. Paying down debt quickly is his #1 goal.

I can't wait for 2008!

by LAcarl519 on Dec 21, 2007 8:15 PM CST reply actions 0 recs

I think

a much bigger concern than the piece of the White Sox is the debt load he took on with the sale. Wall Street wants that paid down quick.

He's got a waiver from Bud to own both teams for a while. He's going to try to sell quickly, but I think Wall Street will have a far greater push to sell than Bud will.

The artist formerly known as JoshinLA

by Josh77 on Dec 22, 2007 2:45 AM CST up reply actions 0 recs

Check my last sentence,,,

"Paying down debt is his #1 goal." ;-)

I agree. The math is these deals is pretty simple. The debt is a time bomb.

I can't wait for 2008!

by LAcarl519 on Dec 22, 2007 9:16 AM CST up reply actions 0 recs

Well

Then I've got to ding you for poor style. :-) You don't write three paragraphs on one subject and then make your main point at the end of the third that has little to do with what you wrote earlier. :-)

Style matters, people! Make it work! :-)

The artist formerly known as JoshinLA

by Josh77 on Dec 22, 2007 4:30 PM CST up reply actions 0 recs

OT -

I saw a "Kosuke #1" jersey here on this site, but it was "Fukudome" @ the press conference. I'm assuming the latter is correct...

"I got mad hits like I was Rod Carew!"

by lostinthevines on Dec 22, 2007 5:31 PM CST reply actions 0 recs

No More Deals?

Is it safe to assume that due to Zell's deal being done Cubs are out of any trades/contracts until he sells the team?

by ak123 on Dec 22, 2007 10:06 PM CST reply actions 0 recs

I don't see any reason to think so.

People kept bringing up the same sort of questions before the offseason, and we got Fukudome. I wouldn't worry about it unless something actually came up.

I would suggest you learn to truly interrupt all stats before using any selective stats. -- cubswin

by cwyers on Dec 22, 2007 10:25 PM CST up reply actions 0 recs