MLB: Zell Casts Doubt on Cubs' Sale to Ricketts
- Thread starter cigaretteman
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This deal needs to hurry up and get done so the Cubs can go out and get some help. Peavy would be in a Cubs uniform right now if they had this b.s. over with. Not that pitching is the problem. I mean Wells has had 4 great starts and has a 1.80 ERA in 4 games but still hasn't gotten a W b/c the "potent offense" can't score runs for him.
I think you could see Peavy but not the other two. I heard that this may take untill Aug to get done so it will be interesting to see if the Cubs will be able to make any moves if that is the case since the trading deadline is July 31
I didn't see anything alarming in the article. Basically saying it's taking a little longer then expected and the financing has gotten more dicey which is something we're seeing everywhere.
He's right. There will be other buyers in the unlikely event the deal falls through.
He's right. There will be other buyers in the unlikely event the deal falls through.
The I saw this article
The Ricketts family's $900 million purchase of the Chicago Cubs from Tribune Co could close soon, despite disagreements on the value of broadcast contracts, two sources familiar with the talks said.
"The sides are not that far apart," said one source, who asked not to be identified. "Hopefully, it will be a matter of a week or two."
Industry observers viewed Zell's comments as a way to pressure the Ricketts family to come to favorable terms.
"It sounds like he's putting pressure on Ricketts," said Robert Boland, professor of sports management at New York University. "The only problem is Zell doesn't have a great deal of leverage. With the bankruptcy problems of Tribune, he does need to sell the franchise."
As part of the Cubs' sale, Tribune is expected to maintain a stake of at least 5 percent in the baseball club. Bankruptcy lawyers have said that once baseball owners approve a deal, it could take a further two to four weeks for bankruptcy court approval. The Cubs are not part of the Tribune bankruptcy, but the court must OK any deal.
MLB officials will likely hold a special meeting to vote on the matter via telephone because the next owners' meeting is not scheduled until August.
The Ricketts family's $900 million purchase of the Chicago Cubs from Tribune Co could close soon, despite disagreements on the value of broadcast contracts, two sources familiar with the talks said.
"The sides are not that far apart," said one source, who asked not to be identified. "Hopefully, it will be a matter of a week or two."
Industry observers viewed Zell's comments as a way to pressure the Ricketts family to come to favorable terms.
"It sounds like he's putting pressure on Ricketts," said Robert Boland, professor of sports management at New York University. "The only problem is Zell doesn't have a great deal of leverage. With the bankruptcy problems of Tribune, he does need to sell the franchise."
As part of the Cubs' sale, Tribune is expected to maintain a stake of at least 5 percent in the baseball club. Bankruptcy lawyers have said that once baseball owners approve a deal, it could take a further two to four weeks for bankruptcy court approval. The Cubs are not part of the Tribune bankruptcy, but the court must OK any deal.
MLB officials will likely hold a special meeting to vote on the matter via telephone because the next owners' meeting is not scheduled until August.
Here's an update. It sounds like broadcast contracts are at issue.
Cubs sale complicated by broadcast contracts -- chicagotribune.com
Cubs sale complicated by broadcast contracts -- chicagotribune.com
I hope they keep games on WGN with ESPN having blackouts other than Sunday night games that's the only time I get to watch them. If go to Comcast I won't get to watch:sad:
Ricketts thinks that the Cubs gave WGN TV and radio sweethart deals to broadcast rights for the next 10 years. He doesn't want to pay for that... I don't blame him.
WGN will still make a bunch of money off of the Cubs while they have these rights.
WGN will still make a bunch of money off of the Cubs while they have these rights.
