Sale of the Cubs Update

[NCCubFan]

The two known Canning rivals are Internet billionaire Mark Cuban.

Looks like their proofreader was asleep on the job. :D

 

I noticed that too.

 

It's like the quote I read somewhere: "There are three types of baseball fans: Those that understand statistics and those who don't."

I don't know if it still is, but that quote at one time was Mr. Wood's signature.

[vance_the_cubs_fan]

More about Cannings' group...

 

Link.

[CubinNY]

More about Cannings' group...

 

Link.

If all these guys are billionaires I don't understand the need for partners. Is it becuase he trying to eliminate potential rivals?

 

Anyway, as long as the get people who can make good baseball decisions (i.e., not hire steve stone in any baseball related/non commentary position) and spend money the way the Trib has since 2000 I'll be happy.

 

I can't say I like anything about the Cannig Group though just from reading the blurb.

[The Voice of Reason]

More about Cannings' group...

 

Link.

 

Talk about a 1927 Yankees-like lineup of heavy hitters. With this group of Chicago powerhouses as partners, his connections to Selig and a competitive bid, Cannning is just about a lock.

 

 

Madison Dearborn Partners CEO John Canning and McDonald's Corp. Chairman Andrew McKenna have been considering forming a group to buy the Cubs since last spring. The pair have lined up some of Chicago's business elite:

 

David Donnini, of private-equity firm GTCR Golder Rauner

 

Craig Duchossois, CEO of Duchossois Industries Inc.

 

Michael Ferro, founded softwaremaker Click Commerce Inc.

 

Edward Kaplan, co-founder of Zebra Technologies

 

Michael Krasny, founder of computer reseller CDW Corp.

 

Larry Levy, founder and chairman of Levy Restaurants

 

Richard Melman, founder and chairman of Lettuce Entertain You Enterprises

 

Patrick Ryan, Aon Corp. founder

 

Michael Sachs, CEO of Grosvenor Capital Management

[jersey cubs fan]

More about Cannings' group...

 

Link.

If all these guys are billionaires I don't understand the need for partners. Is it becuase he trying to eliminate potential rivals?

 

If you could own and control the Cubs by putting up $501 million instead of the full billion, wouldn't you? It's spreading the risk. It's called diversifying your portfolio, don't want 75% of your assets in one business.

 

This eliminates the possibility those guys add money to other groups. It garners much needed political support (MLB would like a group consisted of a bunch of people with greaty sway in the community).

[RynoRules]

More about Cannings' group...

 

Link.

If all these guys are billionaires I don't understand the need for partners. Is it becuase he trying to eliminate potential rivals?

 

If you could own and control the Cubs by putting up $501 million instead of the full billion, wouldn't you? It's spreading the risk. It's called diversifying your portfolio, don't want 75% of your assets in one business.

 

This eliminates the possibility those guys add money to other groups. It garners much needed political support (MLB would like a group consisted of a bunch of people with greaty sway in the community).

 

Bingo. Share the risk. Even big Stein has minority partners.