Prospective Cub Buyers Don't Want Cubs Without Wrigley...

[vance_the_cubs_fan]

Link.

 

"The Cubs and Wrigley Field are so intertwined. The whole is greater than the sum of its parts," says a member of one bidding group who requested anonymity because of Major League Baseball's sensitivity about the sale process. "Splitting them absolutely diminishes the value of the team and my interest level."

 

That lease arrangement is the rub, prospective bidders say. Would-be owners fear being saddled with decades of rent payments to compensate Tribune for a ballpark they'll never own. That would crimp cash flow that otherwise could be spent on signing All-Stars in pursuit of a long-elusive World Series championship, they say.

 

"That is money not going . . . for the benefit of the team or fans," says a member of another bidding group who also requested anonymity. "It is just rent out of the team's pocket (that could pay) for salaries that is being capitalized into a lump sum for Tribune's benefit."

[inari]

I'm gonna go ahead and say that neither of those quotes is from the Canning group.

[brint]

I'm gonna go ahead and say that neither of those quotes is from the Canning group.

 

Even so, when the Canning Group gets word that other bidders may be dropping out or lowering their bids due to the Wrigley-Cubs split, I can imagine they'd adjust their bid appropriately. Unless they like throwing money away.

 

I can't figure why the city should be in the business of owning a ballpark when it has trouble keeping up with its own, basic infrastructural needs.

[daske17]

Given the current political climate in Illinois, I don't see the state buying Wrigley for any reason. The state legislature is still fuming over the recent transit funding debacle, and the idea that the state will then buy the governor's favorite ballpark is probably the last thing they want to do.

 

Zell has some interesting maneuvering to do with selling this team.

[DivineBovine]

As a fan, I've been worried about this plan to split the two assets ever since it has been mentioned. The worry is the loss of revenue for the owners and therefore less money to invest in the team. Whatever group that buys Wrigley is obviously going to be lining their own pockets without necessarily investing back into the team.

 

Anyways, if this were true and this will really devalue the franchise, then I hope the money grubbing Trib realizes this and decides to sell as part of a package deal.