This was posted by jerry morales rules in the FanPosts, but I thought it deserve a front page post as well.
According to the Chicago Sun-Times, Tom Ricketts and his group have been chosen as Tribune Company's preferred bidder.
However, that doesn't mean the sale is done. First, the creditors have to approve (that doesn't seem like much of an issue). Then, Ricketts and his group have to finalize terms. According to the article:
Ricketts is believed to have offered around $900 million. The Cubs, without a World Series crown in 100 years, still are among the most valuable franchises in Major League Baseball because of their strong attendance and national TV following.
Then, MLB owners must approve Ricketts, but that would seem to be a formality. Cubs Chairman Crane Kenney's statements last weekend hinted that MLB owners had already signed off on all three finalists.
But wait! There's more:
The company apparently showed creditors the favored bid as a courtesy. The creditors can fight over the proceeds, but do not have the authority to reject the bid. The Cubs franchise was not covered by the bankruptcy filing.
Tribune is not locked in to negotiate only with one bidder. Others remain free to enrich their offers.
The last paragraph throws a wrench of sorts, although I suspect that this thing will finally get done; if Ricketts has offered $900 million, it doesn't seem likely to me, in the current economy, that the other bidders would go much higher than that (Sam Zell probably could have gotten more for the team a year ago).
Personally, I'm happy if the Ricketts group is the new owner. Tom Ricketts is from Chicago and is a Cubs fan, and once lived over one of the bars near the ballpark. If he opens up his wallet -- and I expect he would -- I think we'll all be very happy with the results.
1 recs | 173 comments
Sounds like good news
Go Cubs….
LT - January 22, 2009
So could the judge in Ch-11
proceedings still throw a monkey wrench in the whole thing? Any legal experts on the blog?
blackhawk24 - January 22, 2009
They certainly could do worse...
I personally was hoping for Mark Cuban (I mean, the guy is basically a fan himself) but I guess we can’t always get what we want.
northernsails - January 22, 2009
Ricketts...
Is a lifelong Cubs fan, Cuban is from Pittsburgh.
CubsBullsBears - January 22, 2009
Cuban was a Cub fan in college in the 1970's
Cuban didn’t want to pony up that is the bottom line
Ivy Walls - January 22, 2009
Sure he is
But Cuban is also very much a fan. You remember when he was invited to Wrigley to take in a game while he was still one of the bidders? He didn’t spend it in the executive suites, he was out in the bleachers with the rest of the Bleacher Bums. You know that he does whatever he can to make the Mavs better, I always felt he’d do the same with the Cubs.
northernsails - January 22, 2009
I believe Ricketts will do the same.
For the record, Cuban sat in the bleachers along with a film crew from Dancing With The Stars. It was for self-promotion, not to be one of the bleacher people.
Al Yellon - January 22, 2009
Thanks for pointing this out
I would have appreciated him sitting out there if I had heard it here…and not splashed all over ESPN like a photo op. It was a clear publicity thing.
StevenABQ - January 23, 2009
To the extent that Cuban was still in the running...
he may have fallen out when the SEC filed its insider trading charges against him. I had always thought that MLB was going to be reluctant to let him in anyway, given his controversial actions with regard to the Mavericks. Although he’s not convicted of anything yet (and he has recently asked the court to dismiss the charges against him), I’ll bet it would have swayed more than one MLB owner, if he had been the winning bidder.
Cubfansince1957 - January 22, 2009
Yeah getting past the other owners
Was probably the biggest hurdle, but as Al posted this a while back seems Cuban blames the credit crisis. But your probably right in assuming the SEC charges didn’t help matters.
StevenABQ - January 23, 2009
This is why Ricketts was chosen.
He’s putting in the most cash, which is something the creditors will look at favorably.
Al Yellon - January 23, 2009
Finally, the good news is this is coming to an end
I don’t relish Mr. Ricketts position. Today what I reviewed from some other very astute practicing economists is that both don’t believe our economy is very salvageable. The Debt ratio versus the GDP is so far out of wack that it is twice what it was in 1981 and worse than the 1930’s or 1945.
The job news continues to trend worse with 596,000 loss for Jan through Jan 18th! meaning that Bush’s net for eight years is now below 2.4M or less than his father’s in just four years. Microsoft lays off 5%, first time in its existence outside of shedding contractors or two small business units—one a floppy disk unit.
The acceleration of money is slowing at an ever faster rate….all signs of a deepening deflation and oncoming Depression. I am not confident in the least. The problem is not money supply, it is that the private usage is slowing down.
But if Ricketts can deliver a WS entry and victory he will be remembered. Now let us see the creditors balk at $900M….wonder if there aren’t some caveats or is this a straight purchase?
Ivy Walls - January 22, 2009
Go Cubs!
(now excuse me while I jump out of my window)
Juiceboxjerry - January 22, 2009
all things shall pass....even if you lost all your paper wealth
but this will not be funny. Hard economic times has not really been part of the American experience for two full generations. We are not entitled to any life of luxury. We had prosperity since WW II because of our parents and grandparents sacrifice and perseverance, and that was wasted.
We lived on debt for over a quarter of a century and now that balloon has been popped. Hold onto your job if you have one. Be empathetic to your loved ones who might have lost theirs.
Ivy Walls - January 22, 2009
so would you exchange decades of Cubs mediocrity for economic prosperity?
bren - January 22, 2009
neither, they are linked
economic prosperity has nothing to do with the Cubs and their ability/inability to produce contenders or winners.
I am giving you sound warning. This recession that we have been in since this time (if not earlier) last year is not your garden variety market correction. We have many fundamentals that are upside down. Since we don’t make too many things we can’t export our way out, but then again there is not a global market that has much money supply to buy anything. It appears that the residential real estate market is 24 months of inventory and growing and is possibly over valued by 50% in some markets. Liquid securities are almost down 50% from their high and still falling. Banks are frozen because in the simplest analogy they have been lending money for used cars at new car prices. Their books are shot. And no executive knows how to manage their business in down times. The Merrill Lynch CEO case shows how bad things are. He was not fired for giving out $3B in bonuses or his $100K decoration of his office, he was fired for he didn’t see their profits and revenues crash.
The Under Armour item is just another example going from $210M in sales to $40M or 18% of projected sales.
This recession will not pass over anyone.
Ivy Walls - January 22, 2009
Stoney, is that you?
Juiceboxjerry - January 22, 2009
doom and gloom.
Yes I am pissed. This like ‘30-’33 it did not have to be so deep or bad. These things are not divine intervention but the folly and stupidity of many who think themselves so smart and gifted. Ironically I was told in Nov ’06 that things were changing rapidly in the private equity markets and saw many a quiet smart person seek some kind of safe harbor.
This was being seen, but no one wanted to say anything. I saw Cheney on an interview on PBS where he exclaimed at Lehrer if he had seen it coming when asked, as if a news guy should know what a VP does. Get real, many saw it, but did nothing. The RE market was beginning to tank in summer ’06 when it was manageable. Now we have job loss because every one is holding onto money.
Ivy Walls - January 22, 2009
not even sure how to respond to that...
I was joking….i dont think they are linked,in teh short term at least, Ricketts can go out and spend money to win now and suffer the downturn in fan spending due to the economy…..or he can slash costs by reducing payroll ensuring a mediocre team, especially given the farm system.
in any event, i was joking as many Cubs fans seem like they would give nearly anything to see a title
bren - January 22, 2009
I think the new owner is stuck with the payroll through 2010
The problem with deflationary trends in any industry is there is a lack of buyers. There was an article the other day why there is no market for Griffey, IROD, and Glavine, all certain HOF players. You know Maddux might have come to realize this as well.
So even if an owner wants to slash Cub payroll in 2010, how? DLee is locked in with NTC, Lilly is in his final year, Soriano is locked forever, Fududome has 2 years with NTC, Bradley is locked, Zambrano, Dempster and Ramirez.
No Ricketts knows he is in for a pound through 2010 and that is why Peavy is a big deal, it increases the lock through 2011 when the payroll will be over $100M w/ Peavy, they are over $120M, until 2012 when things finally fall to middle numbers.
They are betting with the pent up demand for tickets and if they can make some hay in the WS in 2009 or 2010 it will sustain their revenue stream even with Depression era economy. To me if I mapped this out by 2011 or 2012 MLB will have gone through two off seasons of contractions where talent will be available and they will probably have reworked the labor agreement by then.
Ivy Walls - January 22, 2009
Depressing Good Times for Cubs
The Cubs did make the World Series in 1932, 1935, and 1938 during the Great Depression. The pennant wins and the economy didn’t have anything to do with each other. I just thought that was a tidbit I would throw out there.
memphiscub - January 23, 2009
You're one of the few that believe this
and unfortunately for the country, you’re probably correct. I’m really worrying about total collapse of the US dollar.
The problem with deflation is the Gov’t still continues to print money like we were playing Monopoly. And they even cite deflation like it’s good to print more with deflation. It won’t be an immediate affect as if we were nearing double-digit inflation, it’ll happen later and possibly result with an even bigger thud. And to top it off, the new “stimulus” is what, another $850B? The last one didn’t work, what makes them think it’ll work now. Unfortunately for some 40% out there, it’s really welfare.
I would like to know what the big banks are doing with that cash. They can’t even account for some $350B from one of the previous “bailouts”. Think of the magnitude of that number. It’s 389 times more than what Ricketts is paying for the Cubs, Wrigley & 25% of CSN-Chicago.
Can’t the creditors and/or the judge in the Ch-11 filings somehow delay this? I just can’t help but think Murphy’s Law will somehow creep into this whole thing.
blackhawk24 - January 23, 2009
I wonder what the team would have gone for if they pushed this through a year ago
1.1B? Initial bids were reported to be in the billion+ range. Zell might have hurt himself by holding out
MJMars - January 22, 2009
Not sure he held out, per se
The conditions weren’t favorable to Tribune Co. and, while the dollar figure may be lower than the presumed price from a year ago, $900 million is a lot of money in this economy.
May this ownership oversee many, many, many championships.
chilango2 - January 22, 2009
Well, I'm content with this..
Chanman25 - January 22, 2009
Let me play Devils Advocate...
What reason does anyone have to believe this guy will spend? Sure he has enough dough to make a bid like this, but he could just as easily be a bottom line type of game and see this as an opportunity to further enrich himself, and maybe even flip the team for a profit at some point down the road.
bren - January 22, 2009
OK, that's fair.
A guy like this, who is from here and a Cubs fan, and made his money elsewhere, wouldn’t put his dollars in a baseball franchise to do as you suggest — enriching himself and flipping the team for profit.
He’d do it because he wants to win, and understands what needs to be done to win.
Al Yellon - January 22, 2009
I hope so, I was just making the counter point
Or worst fear would be more apt.
bren - January 22, 2009
I understand the fear of the unknown.
But in this case, I think we did good.
Al Yellon - January 22, 2009
So is it him or the whole Family?
Someone mentioned this below, but after shelling out 900M, one has to wonder if he would be immediately be willing to sink more into the team
bren - January 22, 2009
It's just Ricketts.
Remember, capital budgets where you spend to buy an asset (like the Cubs) are different from budgets set for payrolls. If he wasn’t willing to spend to improve the team, I doubt he’d have bought it in the first place.
Al Yellon - January 22, 2009
Ill take your word for it...
I havent been paying attention to all the particulars, just waiting for a winner….but I guess I have an inherent mistrust of Billionaires motives.
bren - January 22, 2009
That's written as if it were your opinion, which I'm sure it is and one that I respect.
But I don’t see anything in there that gives us reason to believe this guy will spend, which is what bren was asking for. And farther below, Dr. G is essentially asking the same thing, and you really don’t address his concern about Ricketts, you just slip in a dig on Cuban – again.
So aside from being from here, being a Cubs fan and making his money elsewhere, does he have any kind of track record to indicate he would spend the $ needed to keep the momentum that McDonough & Kenney have created?
ballhawk - January 22, 2009
that was my point in playing devils advocate
none of us really know b/c he hasnt owned a professional sports team (has he?)……billionaires like money, and the Cubs are a cash cow, so Mr Ricketts sporting philanthropy can be questioned
bren - January 22, 2009
Valid point
The late Carl Pohlad, of the Twins, was by far the richest owner
TC Cubby - January 23, 2009
A solid "meh"
Better than Canning, worse than Cuban
DrGalazkiewicz - January 22, 2009
Better than Canning, I agree 100%.
Explain “worse than Cuban”.
Al Yellon - January 22, 2009
I'm not convinced that Ricketts wants to win...
I’m not saying that he doesn’t – just that we have no indication of that. Most people from Chicagoland have probably identified themselves as “Cub fans” at some point, but obviously there are different levels of fandom. We don’t know that Ricketts will place winning above the bottom line. From what we’ve seen, I think it’s safe to assume that Cuban would have.
DrGalazkiewicz - January 22, 2009
Why are you assuming Ricketts wouldn't?
That seems to be your impression of anyone but Cuban.
Al Yellon - January 22, 2009
I'm not, but you seem to assuming that he would.
We’ll just have to wait and see. We know that Cuban wants to win.
DrGalazkiewicz - January 22, 2009
And, to date, hasn't.
I’ll take my chances with Ricketts.
Al Yellon - January 22, 2009
Not a championship...
but his teams have been over .500 in each of the nearly ten seasons since he bought the team. He’s been a huge upgrade over the prior ownership (Perot Jr.) and he has taken them to the Finals.
Really Al, I’m not blasting Ricketts, as I admittedly know next to nothing about him. I’m just surprised that you prefer him over Cuban. It seems that you dislike Cuban because he has a huge ego, is a shameless self-promoter, etc. So what? These traits could motivate him to help assemble a World Series champion.
DrGalazkiewicz - January 22, 2009
If I could, I would go back in time and force George Steinbrenner to buy the Cubs...
and I would be totally OK with his huge ego, shameless self-promotion, etc.
And we would probably have at least 4 WS trophies by now.
santoswoodenlegs - January 22, 2009
They could, but...
… I think the idea that Cuban was or is the ONLY person who could make the Cubs a winner is wrong.
I think we’ll all be very happy with Tom Ricketts as owner. See the front page for a quote from him.
Al Yellon - January 23, 2009
Well, who was saying that? ("Cuban was or is the ONLY person...")
Certainly not me, bren or Dr. G, and as far as I can tell, no one else in this thread. I’m not denying that there are probably some die-hard Cuban supporters in BCB-land and I’m sure there were thoughts expressed along those lines at some point, but not here and not now. It’s like Cuban was your white whale or something…
I think we’re all pretty happy that Ricketts is (or looks to be) the winning owner. And I hope we continue to be happy with the results of his efforts for a long time.
ballhawk - January 23, 2009
I agree.
No, no one in THIS thread said that about Cuban. But it was my impression that some did think that way.
In any case, as long as Ricketts is willing to spend, I think we are in very good hands.
Al Yellon - January 23, 2009
Agreed
now everyone go out and open a TD Ameritrade account! ;-)
ballhawk - January 23, 2009
and yes, I know Tom is not part of the TD Ameritrade side of the family
but having family support in trying times is always a good thing, so indirectly you’d be helping out the new owner.
ballhawk - January 23, 2009
White Whales
Imagine if Cuban hit lefthanded . . . .
Shanghai Badger - January 23, 2009
Agreed
I wasn’t implying that Cuban is a necessity.
If all this is really true about Ricketts living across from Wrigley and meeting his wife in the bleachers, then I feel more optimistic.
DrGalazkiewicz - January 23, 2009
he would have if not for terrible terrible and mean terrible officiating
vs. the heat.
fischisgod - January 22, 2009
True, but he's been out of it for a while now
Maybe there will be some sort of 11th hour bid by him, but his last public stance seemed to indicate he wasnt going to be the top bidder anyhow.
I do share your concerns though….i think its only natural after the spending we’ve seen the past few years to worry that it will stop and we’ll be penny pinched
bren - January 22, 2009
That's not a valid assumption.
You’re talking about two different entities — Tribune and Ricketts. What one spends or has spent has nothing to do with what the other will spend in the future.
Al Yellon - January 22, 2009
I wasnt suggesting there was a connection
simply that, as fans weve grown accustomed to this level of spending, so the fear that the new owner will be more concerned with making money is relevant b/c there are many owners like that accross the sporting world
bren - January 22, 2009
Did Zell
Make more than $200k in the process of holding them an additional yer? If so the $900k more than $200k in revenue from the Cubs/WF/CSN would have been a net gain still.
Cubbie-Tim - January 22, 2009
If the club including Wrigley Field was worth $1B one year ago...
…then the depreciation is 10%. About par for the course I would think.
derv - January 22, 2009
except for the fact that
sports teams, as a general rule do not depreciate. Assets in general might, but sports teams do not. Rarely do you see a team sell for less than the previous purchase price. Granted, there is real estate involved here, and a difficult economic climate, but I would say that zell would have been better off acting quickly if possible.
davidalanu - January 23, 2009
Slight difference...
It’s $200M, not $200k. And I’d be surprised if the Cubs made a $200 million net profit over the last year. If so, they shouldn’t be quibbling over $5-10 million in budget for next year.
SouthernCub - January 23, 2009
SEE...I should have left my fanpost up
derv - January 22, 2009
I was wondering why you took it down.
Al Yellon - January 22, 2009
It didn't seem to be well received...
…and really after I thought about it, it didn’t really tell us anything newsworthy.
derv - January 22, 2009
Thanks.
I just wondered what happened to it.
Al Yellon - January 22, 2009
well
just get it freakin’ done, and get approval to do something more than three minor league pitchers for Mark DeRosa..
drewishdrewid - January 22, 2009
I'm disappointed
Earlier today I was reading somewhere that the Cubs were going to be given away, as a promotion, to a group of 12 fans. How could things have changed so fast?
Juiceboxjerry - January 22, 2009
Read the quote from the Sun-Times article again.
The 12 fans still have a chance!
Al Yellon - January 22, 2009
I say we all pitch in
and buy them, adn remane the BCB CUBS
set up a paypal Al for our group donation to but the team
Cubbie-Tim - January 22, 2009
OK!
Who’s making the first donation?
Al Yellon - January 22, 2009
I am willing
to auction my kidney on Ebay if needed
Cubbie-Tim - January 22, 2009
How about we auction off santoswoodenlegs?
damn that finicky spacebar key… ;-)
ballhawk - January 22, 2009
Come on now! I'm certain there are more sought after things we can find to put up for auction...
santoswoodenlegs - January 23, 2009
ahhh, I missed that part, nice catch;)
Juiceboxjerry - January 22, 2009
damn, meant to hit reply
Juiceboxjerry - January 22, 2009
Al-I think he already "opened up his wallett", to the tune of
$900m. Now he’s going to find some ways (PSL), to get some back
SonnyJ9 - January 22, 2009
We'll see.
First up before PSL’s, I think, will be a Cubs TV network.
Al Yellon - January 22, 2009
That's really an inportant part of this
I hope that this Ricketts fellow has as much interest in a Cubs network as Utay did. That is the next major step towards truly being on the Yankees/Red Sox level.
Juiceboxjerry - January 22, 2009
Well how much would that cost him?
thats gotta be a lot of overhead
bren - January 22, 2009
True.
But the revenue you can derive from such a network would pay for itself many times over, and pretty rapidly.
Al Yellon - January 22, 2009
Do you think the new owner will be locked in to WGN for a period of time?
SonnyJ9 - January 22, 2009
is WGN part of the sale?
Cubbie-Tim - January 22, 2009
No.
I don’t know how long WGN’s contract with the Cubs runs. Until they can get a Cubs TV network on the air (if they choose to go that way), I think they’d keep at least some games on WGN.
Al Yellon - January 22, 2009
my best guess is that MLB will revamp all broadcast programs after the inevitable contraction
MLB.tv is actually what Einhorn envisioned back in the early 80’s but it would actually take an aggregator to pull it off.
I can see a weekend local game of the week for marketing awareness and another cable game or two per week, but essentially some form of pay per view subscription over the Internet and cable/satellite.
It is a revenue stream they will need but not at the prices they are getting.
Ivy Walls - January 22, 2009
Inevitable contraction?
I would say a rellocation is more likely, the league as a whole appears to be financially sound, but I would think one of the Florida teams moving would happen before an out and out contraction
bren - January 22, 2009
really?
SD is not healthy at all having to slash payroll from $45M to under $40M to make a cash call.
D-Backs laid off employees in Nov and their payroll is being dropped from $63M.
LAA, SEA and Atlanta lost money last year.
Batt, Cinc, Pitt, Det, Tex, KC and the Chisox all barely had a gross profit in the safety zone. No wonder Chisox have been selling this off season.
Actually I am not too worried of the FL teams who have learned to live on $20-$30M payrolls. There will be other surprises like SF or Clev who will show some distress. And then there are the NY teams, they built but maybe a few years late.
Ivy Walls - January 22, 2009
Hmm
Well I would imagine that baseball as a whole would do what they have to to keep some of those guys afloat- I would have to see some numbers to believe that those teams are losing money….on the face, I wouldnt believe it
SDs owners divorce plays a large roll in the reduction of payroll, so Im sure we’ll see plenty of teams reducing costs, but out and out contraction, on the level youre talking, seems a longshot to me. It would be bad for the league on a number of levels
bren - January 23, 2009
Contraction will be fought heavily by the MLBPU
SouthernCub - January 23, 2009
I meant MLBPA
SouthernCub - January 23, 2009
and has to go thru antitrust appeals
Cubbie-Tim - January 23, 2009
Don't See Contraction or Expansion
There hasn’t been a major pro sports franchise (not counting WHA franchises) to go out of existence since the Cleveland Barons merged with the Minnesota North Stars in 1978. Contracting shows that your sport is weak and dying. There are teams in trouble, but I don’t see them going under.
Also, I don’t see MLB expanding any time in the next decade. There are enough teams already.
memphiscub - January 23, 2009
Inevitable contraction, my butt
the Rays, who quite possibly would have been one of the teams contracted if MLB had had it’s way during the last labor negotiations, have clearly shown that a small market team can compete. There is zero chance that the union, or a court for that matter, would approve contraction. To say that contraction is inevitable is beyond ridiculous.
Next premise, please…
davidalanu - January 23, 2009
WGN is not part of the sale but a condition of the sale may be having to keep the Cubs
on wgn for a period of time.
SonnyJ9 - January 22, 2009
Ricketts
My Dad has done some business with Tom Ricketts. This is not the group he might have had a chance to be part of but he says this is a great day for the Cubs.
puckishcubsfan - January 22, 2009
Are you implying your Dad wanted to buy the Cubs?
bren - January 22, 2009
My Dad had a chance to have a very small percentage of a group in the early process. It would have been about 2-3 percent.
He has a medium sized company and is one of those people if you’re in the business he’s in you know who he is.
puckishcubsfan - January 23, 2009
wow that wouldve been awesome
bren - January 23, 2009
It's going to take a little time for the idea of new owner to sink in
The Cubs really have had only three owners during the past 100 years (Weegham, Wrigley, Tribune) where other franchises seem to change owners every few years.
Mordecai - January 22, 2009
Couple of thoughts
1. I am pretty happy about this. There is something to be said about someone who is filthy rich and grew up in CHicago and is a Cubs fan owning the Cubs. I am not expecing a huge bump in payroll. I would be happy with say a 20 million bump over a couple years but i feel it will come. You dont sink that much money into a team to say screw it the drunks will show up anyway.
2. I feel owning the cubs is a bit like playing for the Cubs. There are few things that can make you a god among men and one of the things that really intrigues people is being able to say I BROUGHT A WORLD SERIES TO THE CHICAGO CUBS!!! I feel that if we win one with him as the owner then he will be the most beloved Chicagoan of all time up there with the Daley family, Chicagos First President and the Reinsdorf clan (Even if you ahte the sox we got spoiled by 6 world championships and we could have swept the 90’s if Jordan didnt retire) I think that he would go to the top of th elist.
3. i hope he keeps Kenny on board. I think that Crane has done a grat job and i can tell that he cares a ton about the organization and wants to do everything in his power to giv us every possible resource to compete. I really respect the job him and McDonugh have done over the past couple years.
4. I hope he is a John Henry type of owner. Pay the bills sit in the luxury box give the team the resources to compete and let the people he hired to manage the baseball operations manage the baseball operations. Speaking of resources….
5. Implement PSL’S under the condidtion that the money from all PSL’s goes directly to team payroll. I know this might not be popular but for the right to have season tickets i believe there maybe should be a fee. There is only so much revenue you can get out of an old stadium like Wrigley Field and this would be one way to bring a tremendous amount of revenue in. With the season ticke waiting list so long there would be no problem getting the seats filled and it would improve the ballclub I believe. My only problem is that the PSL’s would lead to markups on all seats which i get on a game by game basis.
6. Follow the Red Sox organizational model. Put as much freaking advertising around Wrigley as possible, and get every dollar you can out of it. The Sox have put ads all over fenway and everyone still loves it. After the initital shock and awe factor almost all will be cool with it.
7. Sell the naming rights. People dont want a corporate sponsor, BUT WRIGLEY FIELD is a corporate sponsor. Either make them pay for it or give someone else achance. Hell do it like the Bears did. Soldier Field presented by Chase or wahtever it is.
8. Retire Sosa’s number. I was thinking about the Bush Presidency in retrospect the other day during the innaguration and I ultimately thought about 9/11. The first two things i thought about were Bush throwing the strike during the World Series and Sammy Sosa after hitting the home run the game after we played again Running around the Bases with an American Flag. That brought tears to my eyes even thinking about it as i write about it makes me smile. Sosa was the face of the CUBS for so long. He had one really bad day in however long he was here. He did so much for the team ad the city when he was here. He deserves it.
9. One last thing- Go get jake Peavy now. I hope to see him aboard soon. but i really really really dont want to give up Vitters. 14th best prospect in basbeall according to Law. But if thats what it takes then thats what it takes.
10. Go Cubs
fischisgod - January 22, 2009
A lot of thoughts, and I agree with a lot, but....
Retire a number because of one moment in time?
Hank Sauer was once the face of the Cubs. Does he get his # retired? Dave Kingman?
Shanghai Badger - January 23, 2009
Thats not the only reason
I was just thinking about that the other day and how much it lifted me up.
fischisgod - January 23, 2009
I know, but the face of the Cubs isn't enough for me, either
That’s why I referenced the others.
One thing the fan that got booed at the business management session on Sunday had right, though — the Cubs marketed the hell out of Sosa, then preteneded like he never existed. They handled the exit very poorly.
Shanghai Badger - January 23, 2009
have Sosa's former teammates vote
I think they’d disagree about retiring his number.
dmlichte - January 23, 2009
C'mon
Grace would be in the front of the line saying to retire his number………….
Cubbie-Tim - January 23, 2009
disagree re: Crane Kenny
he has shown a willingness to be an embarrassment. While he has seemingly no baseball knowledge he hasn’t been the least bit shy about jumping into the Cubs spotlight. He has been perhaps a necessary annoyance during the transition, but hopefully he goes away very soon.
davidalanu - January 23, 2009
Disagree
Kenney has stick his foot in it a couple of times, but he knows baseball.
Shanghai Badger - January 24, 2009
I can see the Sports Illustrated Cover right now...
Best Rotation of the Century?
Harden Zambrano Peavy Dempster and Lilly primed to win 20 each would be the subtitle.
ARAM FOR MVP - January 22, 2009
Title
" 5 Aces"
All with an Ace in their hand, 5th ace has a Harry Carey Logo
MrShowtime - January 22, 2009
Well, let's hope they turn out better than the "Four Aces"
Remember them? Oakland A’s, early 90’s.
Don Peters, Dave Zancanaro, Kirk Dressendorfer, and the aceiest of them all, Todd Van Poppel.
ballhawk - January 22, 2009
Or
The Cubs Five Aces a few years ago
Wood
Prior
Zambrano
Clement
Maddux
Cubbie-Tim - January 23, 2009
Don't depress me.
Only Z and Maddux pitched the whole season.
Doggie Stalker - January 23, 2009
It still
saddens me to think of that rotation the let down of the entire season
Cubbie-Tim - January 23, 2009
Rickett's Quote
"My family and I are Cubs fans," said Tom Ricketts, the family’s point person in the Cubs purchase, in the statement. "We share the goal of Cubs fans everywhere to win a World Series and build the consistent championship tradition that the fans deserve."
Clutche - January 22, 2009
I posted this on the front page.
Al Yellon - January 23, 2009
WOW,,,SOUNDS LIKE
a winner for all things cub and of course us the fans . This sale seems to have dragged on forever ….We are all ready for MESA then Wrigley and a winning season ..Go Cubs 09
cubs north - January 22, 2009
I'm glad a Cubs fan won (I think he did at least)
I was worried the winner would be a business man with no interest in the team and was all about making money and less about winning.
Bricks and Ivy - January 22, 2009
If this is finalized
and I don’t foresee a problem with that, this will be fantastic for both the team and the fans. The Ricketts family is an extremely loyal family to their employees. My wife used to work for Ameritrade when i was stationed at Offutt AFB just outside of Omaha. We both watched Joe (the father) take a small online stock trading company and turn it into a powerhouse holding and trading company. The Ricketts had a chance to sell the company several times for huge profits. They didn’t and the company continued and continues to thrive. I think we’ll see more of the same with the ownership of the Cubs. They are fans of the team and want to see the team win for emotional reasons. They are also very shrewd businessmen. They want the team to win for financial reasons. They will continue to put money into the team knowing that is an investment in the future that will pay both financial dividends and hopefully bring a championship back to its rightful place on the north side.
snowyman28 - January 23, 2009
Sounds perfect to me.
Al Yellon - January 23, 2009
All I want is
the return of the 25 cent Frosty Malt
Employee22 - January 23, 2009
Just saw this on MSNBC
This was posted this morning(overnight your time)……
http://nbcsports.msnbc.com/id/28801359/
Souds like they’ve made it official
nmcubsfan - January 23, 2009
Not quite.
Quote from the article:
I don’t think any of this is going to be a problem, but it’s not quite 100% done yet.
Al Yellon - January 23, 2009
Oops
My bad, I saw that article, thought maybe I’d post it after reading this post…
nmcubsfan - January 23, 2009
No worries.
The MSNBC article did have useful info.
Al Yellon - January 23, 2009
At last!
I just hope new ownership spends what it must and manages the team wisely. I’m glad the new principal owner is a fan. I just hope he lets the baseball people in management do their jobs.
Fraggin Judge - January 23, 2009
My guess is that he will.
Al Yellon - January 23, 2009
Omaha Cubs?
Vast speculation here, but the Ricketts family has its base in Omaha. The city is currently building a new downtown stadium for the college world series, to replace the one the AAA Omaha Royals currently play in.
The Royals are playing hardball, due to a sweetheart lease in the current stadium, and are trying to build a smaller stadium outside of the city in a different county.
I have my fingers crossed that the Ricketts family, heavily politically involved in the area, may try to bring the Iowa Cubs a couple miles west on I-80 to play in the hometown.
Anyone see this as possible?
slink - January 23, 2009
No
The Iowa Cubs are an institution that will not be messed with. The Cubs largely own the Iowa fan market for major league baseball. It would be a bad mistake to piss on that equation by moving out of Des Moines and ticking off a state full of people.
BLou - January 23, 2009
Well
Ricketts is also the leading candidate to purchase the naming rights for this new stadium.
http://www.omaha.com/index.php?u_page=2798&u_sid=10355023
Wouldn’t it make sense to have the Cubs AAA minor league affiliate play in the stadium named for the company that the owners built? Outlandish at first, as the Iowa Cubs HAVE done very well in Des Moines. But it’s no secret that the Omaha Royals are in the market to leave the city of Omaha, currently looking at a county adjacent the Omaha metro and previously hoping to have a stadium built for them in Sugarland, TX (which failed on a ballot).
Maybe they swap franchises with Des Moines.
slink - January 23, 2009
It's possible.
Des Moines is close enough to Kansas City that it would be suitable for their AAA franchise.
I don’t know how long both the Omaha and Iowa affiliate agreements run, but it could happen.
Remember, though, that Tom Ricketts is the bidder, and he lives in Chicago. It’s other family members who live in Omaha. Those relatives are NOT involved in this bid.
Al Yellon - January 23, 2009
To be honest
This is all just wishful thinking from a displaced Cubs fan. My annual attendance of Omaha Royals games averages <0. It’d go up a bit if this little scenario played out.
Normally, I’d say no chance, but with the Ricketts political involvement in Nebraska and the City of Omaha, I’d say they may be willing to do the city a favor. The city is more than ready to give a big up yours to the Royals with their actions towards the new stadium. This would be a hell of a way to do it.
If it happened, it’d have to happen relatively quick. Ground has been broken for the stadium just this week, and is scheduled to be completed by Spring 2011. Currently, there are no tenants other than the College World Series and possibly Creighton Baseball, a local university.
Clearly, the Royals at least are prepared for a change in venue.
slink - January 23, 2009
Just to repeat.
Tom Ricketts lives in Chicago. The Omaha branch of the Ricketts family is NOT involved in the Cubs transaction.
Al Yellon - January 23, 2009
Hey
It’s all in the family.
slink - January 23, 2009
Half true
The Ricketts family built a business dynasty, to include TD Ameritrade. While Tom Ricketts is the front-man purchasing the Cubs, make no mistake the transaction is being funded and secured with family money. And since Tom Ricketts has never really built or led anything purely on his own throughout his young career I would expect the family to be relatively active participants in the strategic management of the Cubs.
BLou - January 23, 2009
What proof do you have of your claim?
I have NOT heard any of this.
Al Yellon - January 23, 2009
There's no proof
But I beleive the family derived much of their wealth from the success of Ameritrade, based out of Omaha. It is where the family is from, including Tom at some point.
I don’t think his brother Pete of Father will have any public face of involvement with the Cubs, but their slices of wealth all come from the same pie.
slink - January 23, 2009
Not all of it.
Tom Ricketts has his own investment company, from which a fair amount of his wealth derives.
Al Yellon - January 23, 2009
Also from a quote in your main post:
“My family and I are Cubs fans,” said Tom Ricketts, the family’s point person in the Cubs purchase, in the statement. “We share the goal of Cubs fans everywhere to win a World Series and build the consistent championship tradition that the fans deserve.”
slink - January 23, 2009
Point taken.
Still, I think that means that Tom Ricketts is the guy they’re going to, and the rest of the family stays in the background.
Or, it could mean that the NY Times (from where I pulled that specific quote) got it wrong.
Al Yellon - January 23, 2009
Incorrect
The Ricketts family is ALL part of the ownership. Tom is just the front man.
I have to admit, reading through this thread is hilarious. Only Ivy Walls seems to have a grasp on the facts and does not rely on strawmen to make his points.
http://www.chicagobusiness.com/cgi-bin/news.pl?id=32716
(Crain’s) — An investment group led by Thomas Ricketts has emerged as the winning bidder in Tribune Co.’s auction of the Chicago Cubs.
“The Tribune Company has informed us today that our family has been selected for exclusive negotiations to buy the Chicago Cubs,” said a statement from the Ricketts family, released Thursday evening.
Ivychat - January 23, 2009
+1
As a Cub fan, he (should) understand and respect tradition. I can see maybe A or AA but not Iowa AAA being moved to Omaha.
Cubbie-Tim - January 23, 2009
The Cubs AAA team when I grew up was in Wichita
Des Moines has been great for the cubs, but things change.
davidalanu - January 23, 2009
The best possible ownership situation for the Cubs
I am pleased that the Ricketts won out. They are a well-respected family that has been a business empire in a manner that is honest and applaudable.
A new owner WILL want to put their own stamp on things. So it will be interesting to see how the next year plays out. I would expect that Crane Kenney will be moving on relatively soon after the sale becomes official. At some point thereafter we should get a sense of what type of payroll structure Tom Ricketts is going to find acceptable. Also, I am keenly interested to know his vision for the reconstruction of Wrigley Field.
BLou - January 23, 2009
Don't be so sure about Crane Kenney.
He could be retained by Ricketts as CEO, with Ricketts becoming chairman. Kenney has done a good job; why change now?
Al Yellon - January 23, 2009
Well...
It seems to me that leading and operating the Cubs will be a full-time job for Tom Ricketts. He doesn’t play an active management role in TD Ameritrade. In fact, the last few years he’s been loosely dabbling and participating in a variety of things. So I’m guessing he becomes active and engaged in running the Cubs. Much the same way Jerry Reinsdorf is with the White Sox and Bulls.
I don’t see a seat at the table for Kenney. And I think Kenney is a bright and ambitious enough guy where he will decide to take on a new gig somewhere else. He still lives in the shadow of Andy McPhail and John McDonough to a degree with the Cubs. Time to go plow his own earth.
BLou - January 23, 2009
Tom Ricketts has his own business to run...
… he’s not part of TD Ameritrade. Why he’d want to “lead and operate” a business that he has no knowledge of doesn’t make sense.
I expect him to become Chairman and the ownership face of the franchise, with Kenney running day-to-day operations as team president.
We’ll see.
Al Yellon - January 23, 2009
Personally, I wouldn't let Crane Kenney near a mircophone
if he stays with the organization. That’s where he’s gotten himself into trouble.
cowsarecool220 - January 23, 2009
Point taken.
He can just do his job behind the scenes and let Ricketts talk.
Al Yellon - January 23, 2009
Anyone know how old Tom Ricketts is???
Not that it really matters – just curious.
I can’t even find a picture of him. I also heard “his” worth (maybe the family pool) is approx $2.6B, Cuban has $1.8B and (for comparison) Steinbrenner has $1.3B.
wrigley's ivy - January 23, 2009
Thomas (Tommy) Ricketts
Thomas (Tommy) Ricketts VC (April 15, 1901 – February 10, 1967) was a Newfoundlander and was the youngest recipient of the Victoria Cross, the highest and most prestigious award for gallantry in the face of the enemy that can be awarded to British and Commonwealth forces, in the British Army
Cubbie-Tim - January 23, 2009
Photo of Tom Ricketts.
Al Yellon - January 23, 2009
Tom Rocketts
Thomas “Tom” Ricketts (15 January 1853 – 20 January 1939) was an English American silent film actor, director and screenwriter who was involved in almost 350 motion pictures.
ohh….the “other” Tom Ricketts
Cubbie-Tim - January 23, 2009
ok, ok, the Tom Rocketts we care about knowing
http://people.forbes.com/profile/thomas-s-ricketts/76834
Thomas S. Ricketts
Director
TD Ameritrade Holding Corporation
Omaha , NE
Sector: FINANCIAL / Investment Brokerage – National
43 Years Old
Thomas S. Ricketts is the chairman and chief executive officer of Incapital LLC, a company he co-founded in 1999. Incapital is a technologically-oriented investment bank focused exclusively on the underwriting and distribution of fixed income products to individual investors. Incapital underwrites for several major U.S. corporations through its InterNotesSM product platform. From 1996 to 1999, Mr. Ricketts was a vice president and an investment banker for the brokerage division of ABN AMRO. From 1995 to 1996, he was a vice president at Mesirow Financial. From 1988 to 1994, Mr. Ricketts was a market maker on the Chicago Board Options Exchange. Mr. Ricketts holds an M.B.A. and a B.A. from the University of Chicago. Thomas S. Ricketts is the son of J. Joe Ricketts and the brother of J. Peter Ricketts, each of whom serves as a director of the Company.
Cubbie-Tim - January 23, 2009
Note that bio says...
… his connection with Ameritrade is simply as a board member. His professional life has been with other companies.
Al Yellon - January 23, 2009
Here's a link from the Omaha World Herald website
http://www.omaha.com/index.php?u_page=1200&u_sid=10545006
snowyman28 - January 23, 2009
I would like the Ricketts to take a close look
at the changes Arte Moreno implemented when he purchased the Angels. He lowered some prices of concessions and souvenirs and ended up making more money due to the increase in volume of purchases.
Here’s an interesting article about the changes Moreno implemented:
LINK
cowsarecool220 - January 23, 2009
900 Million
Man, I could guy a lot of pickles with 900 million.
TheHawkRules - January 23, 2009
please dont guy me with any pickles
Cubbie-Tim - January 23, 2009
twss
Emelie - January 23, 2009
Want One?
TheHawkRules - January 23, 2009
Do you have something to announce to the group?
A new addition to the family, perhaps?
cowsarecool220 - January 23, 2009
LMAO
ummmm…NO!
Cubbie-Tim - January 23, 2009
Interesting Financial Tidbit
From Marketwatch
Anyone with that much cash in hand given the current financial crisis possibly will not have many issues keeping the payroll at the current level. Hopefully he will have enough capital to start on some more renovations at Wrigley in the near future as well.
Qixotl - January 23, 2009
Rec'd
Al Yellon - January 23, 2009
PSL's
I bet PSL’s won’t be far behind..
wicubfan - January 23, 2009
Ricketts overpaid.
How could the Cubs go for $900 million when John Henry bought the Red Sox in 2002 for almost the same amount? The Red Sox were perennial contenders who always fielded good teams. Granted they hadn’t won a WS since 1918. However, the teams were always competitive and had a cult following similiar, if not greater than the Cubs. Throw in the current economic evironment and the sale price becomes even more bloated.
ronsanto10 - January 23, 2009
The Henry deal
included something like an 80% stake in Boston’s television network and furthermore.. who is to say what the Red Sox are worth today OR that you can even compare the two franchises?
Scott 9 - January 23, 2009
I don't agree with you about
the Red Sox being perennial contenders who have always fielded good teams. That is the recent description of the franchise.
There was a long stretch of years where the team was awful and the ballpark was empty, just like the Cubs for a long period of time in their history.
cowsarecool220 - January 23, 2009
I am in shock
You mean there is still $900 billion left in our economy? Shocked. I thought I had most of it.
wild bill - January 23, 2009
You must have been reading Ivy Walls posts.
cowsarecool220 - January 23, 2009
There is, and John Thain
awarded it out as executive bonuses at B of A.
davidalanu - January 23, 2009
Tribune Co. would keep a small percentage of the team for tax reasons
“Under the structure that had been discussed with baseball officials, Tribune Co. would keep a small percentage of the team for tax reasons, probably around 5 percent, a baseball official said. The official spoke on condition of anonymity because discussions between the team and MLB have not been made public”
http://sports.yahoo.com/mlb/news;_ylt=AgRHS9hQSeZboLoyi8XDoc4RvLYF?slug=ap-cubssale&prov=ap&type=lgns
Cubbie-Tim - January 23, 2009
link
http://sports.yahoo.com/mlb/news;_ylt=AgRHS9hQSeZboLoyi8XDoc4RvLYF?slug=ap-cubssale&prov=ap&type=lgns
lets try again….if it doesnt work, please delete the post for me Al.
Cubbie-Tim - January 23, 2009
Don't worry about it.
People can copy/paste your link into a browser window.
Al Yellon - January 23, 2009
can someone tell me
how to make the (click here) link ordeal instead of a long link?
Cubbie-Tim - January 23, 2009
Ask and you shall receive.
Go here. I’m going to put that on the right sidebar for easy reference.
Al Yellon - January 23, 2009
THANKS!
I bookmarked the link so I can try it in the future….
Cubbie-Tim - January 23, 2009
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