Cuban submits application to buy Cubs

[Laura]

I'll take a wild guess here and say that Cuban has a pretty good idea of how Reinsdorf feels about him and what his chances are going forward. Maybe this is just his way of tweaking MLB's nose and send Reinsdorf's blood pressure skyrocketing ... but there's also a good chance he's serious.

 

If he thinks it's worth pursuing, I'm going to assume he knows what he's doing.

[Banedon]

The Braves sold for $1.27 billion? Maybe it is possible the Cubs will sell for over $1 Billion.

 

Forbes evaluation of team worth seems to be a little off when compared to these sale prices. (Braves and the potential Cubs sale)

 

http://www.forbes.com/lists/2006/04/17/06mlb_baseball_valuations_land.html

 

Yeah I don't see the Braves being worth $400M when they were just bought for three times that. Those estimates all seem a little low, and I think the top end teams are, in some cases, worth considerably more than what they were appraised at.

 

The Braves were sold for $1.2 billion? When did that happen?

 

http://sports.espn.go.com/mlb/news/story?id=2764181

 

I think that total is misleading because there were stock shares changing hands as well....

 

Yeah. I don't think the Braves were priced anywhere near that. From the article it looks like Liberty Media gave up $1.27 billion in Time Warner shares in return for Braves, some magazines, and 1 billion in cash.

 

Did I misread that? That's what it looks like to me, so it looks like this was a stocks for Braves trade.

 

Yeah...which makes gauging the price a little difficult.

[jersey cubs fan]

The Braves sold for $1.27 billion? Maybe it is possible the Cubs will sell for over $1 Billion.

 

Forbes evaluation of team worth seems to be a little off when compared to these sale prices. (Braves and the potential Cubs sale)

 

http://www.forbes.com/lists/2006/04/17/06mlb_baseball_valuations_land.html

 

Yeah I don't see the Braves being worth $400M when they were just bought for three times that. Those estimates all seem a little low, and I think the top end teams are, in some cases, worth considerably more than what they were appraised at.

 

The Braves were sold for $1.2 billion? When did that happen?

 

http://sports.espn.go.com/mlb/news/story?id=2764181

 

I think that total is misleading because there were stock shares changing hands as well....

 

Yeah. I don't think the Braves were priced anywhere near that. From the article it looks like Liberty Media gave up $1.27 billion in Time Warner shares in return for Braves, some magazines, and 1 billion in cash.

 

Did I misread that? That's what it looks like to me, so it looks like this was a stocks for Braves trade.

 

Yeah, there value in the transaction was something like $450 million.

[Banedon]

I believe that they have to sign non-disclosure agreements as part of the application process. I'm not sure exactly what they are forbidden from disclosing (probably operating figures and the like), but I bet we don't hear a lot from Cuban during all of this. At least not till he feels like he's being screwed.

[SouthSideRyan]

According to Mike North today on the Score (yes I know, consider the source) who is fairly tight with Reinsdorf, Jerry told him that there is no way the owners will allow Cuban to join their conservative little fraternity of MLB owners.

 

Again, who other than Reinsdorf is going to oppose it?

 

Is it MLB owners or just NL ones?

 

It's all MLB ones. The only three I can think of who wouldn't support his bid would be Angelos, Glass and Reinsdorf.

 

It doesn't matter. They're all pawns of Selig. If Reinsdorf is voting it down, then everyone is voting it down cause Reinsdorf and Selig are one and the same.

[SouthSideRyan]

They already regret allowing Jeffrey Loria into the fold.

 

Why would they regret that? He's done everything they've wanted from him, the stadium extortion attempt, the torching of the Expos franchise, the refusal to spend any money anywhere. He's the biggest prick in baseball, of course they love him.

[vance_the_cubs_fan]

Cuban needs to convince the other owners sans Reinsdorf that his being in the league will help them make money. All in all, money talks. If Cuban can convince the others that they will make more money with him than without him, they'll let him in.

[jersey cubs fan]

According to Mike North today on the Score (yes I know, consider the source) who is fairly tight with Reinsdorf, Jerry told him that there is no way the owners will allow Cuban to join their conservative little fraternity of MLB owners.

 

Again, who other than Reinsdorf is going to oppose it?

 

Is it MLB owners or just NL ones?

 

It's all MLB ones. The only three I can think of who wouldn't support his bid would be Angelos, Glass and Reinsdorf.

 

It doesn't matter. They're all pawns of Selig. If Reinsdorf is voting it down, then everyone is voting it down cause Reinsdorf and Selig are one and the same.

 

What? I don't believe Reinsdorf has the clout he had back when he caused the 1994 lockout/strike. There's a whole slew of new owners since he last ran around with Selig on a leash.

[CubinNY]

They already regret allowing Jeffrey Loria into the fold.

 

Why would they regret that? He's done everything they've wanted from him, the stadium extortion attempt, the torching of the Expos franchise, the refusal to spend any money anywhere. He's the biggest prick in baseball, of course they love him.

 

Exactly, He ruined the Expos and they rewarded him by letting him ruin the Marlins.

 

I wish Bk still posted. He has some great rants about Loria.

 

Just one little tidbit: in 2003 they didn't even have programs ready until about a month into the season.

[The Voice of Reason]

According to Mike North today on the Score (yes I know, consider the source) who is fairly tight with Reinsdorf, Jerry told him that there is no way the owners will allow Cuban to join their conservative little fraternity of MLB owners.

 

Again, who other than Reinsdorf is going to oppose it?

 

Is it MLB owners or just NL ones?

 

It's all MLB ones. The only three I can think of who wouldn't support his bid would be Angelos, Glass and Reinsdorf.

 

I understand Reinsdorf, and can MAYBE understand Glass, but why would Angelos care? Is Chicago infringing on Baltimore's territory like the Nats are?

 

Because Angelos and Reinsdorf share the same brain. Aren't those the two idiots that brought us the work stoppage?

 

Yes, IIRC the Sox were in first place at the time. Didn't matter to Reinsdorf.

 

I wouldn't underestimate Reinsdorf's ability to sway 1/4 of the owners to vote against Cuban because he thinks it would be in the best interests of the White Sox.

 

Also, who do you think Selig would rather have at league meetings - an old friend like Canning or a Maverick like Cuban?

[Transmogrified Tiger]

According to Mike North today on the Score (yes I know, consider the source) who is fairly tight with Reinsdorf, Jerry told him that there is no way the owners will allow Cuban to join their conservative little fraternity of MLB owners.

 

Again, who other than Reinsdorf is going to oppose it?

 

Is it MLB owners or just NL ones?

 

It's all MLB ones. The only three I can think of who wouldn't support his bid would be Angelos, Glass and Reinsdorf.

 

It doesn't matter. They're all pawns of Selig. If Reinsdorf is voting it down, then everyone is voting it down cause Reinsdorf and Selig are one and the same.

 

What? I don't believe Reinsdorf has the clout he had back when he caused the 1994 lockout/strike. There's a whole slew of new owners since he last ran around with Selig on a leash.

 

Going by that wikipedia link, there are 19 new owners since 1994(2 of them were expansion franchises).

[Brendan]

because the trib is a public company, don't they have a legal obligation to sell to the highest bidder?

[C.C.]

because the trib is a public company, don't they have a legal obligation to sell to the highest bidder?

 

But the TRIB sold to Zell.

[Transmogrified Tiger]

because the trib is a public company, don't they have a legal obligation to sell to the highest bidder?

 

That's Zell, he's the one selling the Cubs and doesn't have that obligation.

[oldcubsfan]

because the trib is a public company, don't they have a legal obligation to sell to the highest bidder?

No, just the highest bidder that meets MLB requirements.

[NCCubFan]

There's a simple solution to this. Time for Cub fans to band together and hire a hit man to take care of Reinsdork and $elig. :D

[Soul]

According to Mike North today on the Score (yes I know, consider the source) who is fairly tight with Reinsdorf, Jerry told him that there is no way the owners will allow Cuban to join their conservative little fraternity of MLB owners.

 

Again, who other than Reinsdorf is going to oppose it?

 

Is it MLB owners or just NL ones?

 

It's all MLB ones. The only three I can think of who wouldn't support his bid would be Angelos, Glass and Reinsdorf.

 

I understand Reinsdorf, and can MAYBE understand Glass, but why would Angelos care? Is Chicago infringing on Baltimore's territory like the Nats are?

 

Because Angelos and Reinsdorf share the same brain. Aren't those the two idiots that brought us the work stoppage?

 

Yes, IIRC the Sox were in first place at the time. Didn't matter to Reinsdorf.

 

I wouldn't underestimate Reinsdorf's ability to sway 1/4 of the owners to vote against Cuban because he thinks it would be in the best interests of the White Sox.

 

Also, who do you think Selig would rather have at league meetings - an old friend like Canning or a Maverick like Cuban?

 

Apparently Selig is going to retire after his contract ends -- I heard him reiterate it again with Dan Patrick a couple days ago. So, if that's true, then I don't think he should care who is at the winter meetings.

 

I think it's questionable whether Reinsdorf can sway 1/4 of the owners. Yes he has clout but if he does campaign against Cuban I can see the other owners smelling sour grapes on him real quick. They aren't idiots.

[CubinNY]

I wonder what the application looked like?

Name
DOB:
SS#
Income:
Assets:
Credit Cards:
Bank Account:
Signature:

We will get back to you in 6 to 8 weeks

[jersey cubs fan]

because the trib is a public company, don't they have a legal obligation to sell to the highest bidder?

 

That's Zell, he's the one selling the Cubs and doesn't have that obligation.

 

The Trib is still a publicly traded company, and their debt holders will hold sway over any large transactions.

[Derwood]

because the trib is a public company, don't they have a legal obligation to sell to the highest bidder?

 

That's Zell, he's the one selling the Cubs and doesn't have that obligation.

 

The Trib is still a publicly traded company, and their debt holders will hold sway over any large transactions.

 

i thought someone said he was making it private, thus buying off the stock holders and taking it off the trade floor

 

I find it hilarious that the criteria for MLB owners is "someone who won't be good." Seriously, why is it in anyone's best interest to approve an owner who will likely make it harder for your own team to win? The system is very broken.

 

This would be like Senators getting to approve who the new senators will be each year. They would never choose someone who will in any way compromise their own agendas

[Transmogrified Tiger]

Reinsdorf also has to worry about not pissing off one of his minority owners in Zell.

[Soul]

Reinsdorf also has to worry about not pissing off one of his minority owners in Zell.

 

Good point. What if Cuban puts together the best offer from Zell's perspective?

[jersey cubs fan]

because the trib is a public company, don't they have a legal obligation to sell to the highest bidder?

 

That's Zell, he's the one selling the Cubs and doesn't have that obligation.

 

The Trib is still a publicly traded company, and their debt holders will hold sway over any large transactions.

 

i thought someone said he was making it private, thus buying off the stock holders and taking it off the trade floor

 

I find it hilarious that the criteria for MLB owners is "someone who won't be good." Seriously, why is it in anyone's best interest to approve an owner who will likely make it harder for your own team to win? The system is very broken.

 

This would be like Senators getting to approve who the new senators will be each year. They would never choose someone who will in any way compromise their own agendas

 

They are in the process of taking it private, but it is not yet private. And the Cubs may be sold before or after that happens. Nobody knows. While taking it private, they are selling debt, which means bond holders who have already made a stink about their plans to sell the Cubs, will be involved. This isn't going to be the case of one man owning the Cubs outright with no outside influence and the ability to do whatever he wants without repercussion.

[Rebel_Cubbie]

IF Cuban were to buy the Cubs, what should be his first move?

 

Is he a Moneyball man?

[Banedon]

IF Cuban were to buy the Cubs, what should be his first move?

 

Is he a Moneyball man?

 

He's never talked about baseball philosophy that I know of, so it's impossible to say.