Colangelo interested in buying Cubs?

[Burtonbell]

http://news.yahoo.com/s/ap/20061122/ap_on_sp_ba_ne/bbn_cubs_colangelo

 

Im thinking yuck on this one...

[sweetpeteman]

Honestly, right now I don't want the Tribune to sell...

[Yeti]

Jerry was a close friend of my father's growing up and in college, i've met him several times at my home growing up, actually a really nice guy...other than the fact that i could probably get great tix for any game if he were the owner, i dont exactly know how i'd feel about him buying the cubs

[YearofDaCubs]

The latest update on the radio seems to indicate that the Tribune and all of their assets may be sold to those two LA billionaires and might actually keep the Cubs. I don't know how I feel about that but I've gotta tell you I would hate for an owner to purchase the Cubs and lower salary by any margin than what it is now.

[oldcubsfan]

Was that radio report on the ever reliable score?

[BDWeav71]

it sure was, reported about an hour ago by "sources close to the score".

 

This is the guy they are reporting is close to buying the tribune and all of its entities: (apparently they are saying he would keep ahold of the Cubs and not swing them to another party)

 

http://www.forbes.com/lists/2006/54/biz_06rich400_Eli-Broad_599L.html

 

Son of Lithuanian immigrants bought first patch of real estate when he was 20. Cofounded Kaufman & Broad with $25,000 investment; became one of nation's largest developers building affordable homes for parents of baby boomers. Acquired Sun Life Insurance (later renamed SunAmerica) in 1971.

[oldcubsfan]

the only source close to the score is Steve Stone.

 

You are aware that the chandler family and the Tribune feel the company is worth 38 -42 dollars a share and any bids much lower won't be accepted. All the early indications were much lower. The trib isn't trying to sell, they are trying to show stockholders that all the bids are too low and the company is undervalued.

You realize they have over 5.5 billion in revenue and 1.1 billion in net income. There will be no fire sale of the company.

[Banedon]

This story is on ESPN.

 

http://sports.espn.go.com/mlb/news/story?id=2672610

[oldcubsfan]

That is the same AP story that appears every where.

 

 

If I recall, Colangelo was forced to sell the DB because of huge financial problems.

[BDWeav71]

the only source close to the score is Steve Stone.

 

You are aware that the chandler family and the Tribune feel the company is worth 38 -42 dollars a share and any bids much lower won't be accepted. All the early indications were much lower. The trib isn't trying to sell, they are trying to show stockholders that all the bids are too low and the company is undervalued.

You realize they have over 5.5 billion in revenue and 1.1 billion in net income. There will be no fire sale of the company.

 

settle down, i was just posting information that the score was reporting.

[sunnydoo]

Ya, Forbes Magazine better be paying attention to this. Right now only the Yanks are valued above $1B.

 

With 4 or 5 groups already stating public interest with no public admittance of a sale, the Cubs have to have gained some ground on that front. Got to think we would be approaching at least the 850-900 million dollar mark by now.

[E.J.]

Anyone have Cuban's email/phone #? We should swamp him with requests to buy the team.

[Soul]

That is the same AP story that appears every where.

 

 

If I recall, Colangelo was forced to sell the DB because of huge financial problems.

 

He took an expansion club to a World Series title in a very short period of time. A title which he won by staring down the mighty Yankees at the height of their considerable powers.

 

I'll take him. He'll do what it takes to win, as he has proven with the Diamondbacks. He is also very well respected as owner of the Suns, where he has been voted executive of the year 4 times.

 

He's a solid owner with a proven track record of success. But to hell with it, let's stick with the 25-year losing streak of the Trib.

[sherwood921]

I spent a while talking to a very close friend of Colangelo's today and he made it sound like he's going to make a very serious run at this. They're asking a ton and he's not sure what's going to happen, but he is really, really interested. I could see, and would be all for, something going down. Jerry's a great guy.

[hardcorecubfan]

Jerry did build a winner in Phoenix (suns)with the suns and did motivate the city to revitalize the downtown area.

[Guest]

I hope he builds a team better than KB builds houses.