The Cubs Sale Thread

[SouthSideRyan]

By the way, the Cubs drew over 3 million fans in 2005 and 2006. If you want to argue that that's because people had high expectations based on 03-04, that's fine. But the Cubs haven't drawn less than 2 million since the strike shortened season of 1995.

 

There have been plenty of horrible, horrible teams since then that have still filled up the park.

 

They sold 3 million tickets in '06, there certainly weren't 3 million fans through those turnstiles. Those September games were ghost towns. If they didn't spend the GDP of Bulgaria that offseason, '07 would not have drawn flies.

[Amie]

I'm surprised more people don't talk about this on the board. Oh well, can't get everything you want. I really hope Mark Cuban gets his bid awarded and becomes the new owner of the Cubs. He is the ideal guy for the job at a time like this. One thing is for sure, if Cuban does buy the team (say for $700 to $900 million), you know everyone is gonna be wiped out from a front office perspective. Good bye Jim Hendry, good bye Crane Kenney, good bye Mark McGuire (you suck btw)! Why do you think McDonough left right away as soon as he got his offer from the B'Hawks? Because of a situation like this. Please Mark Cuban! 8-[

 

Cuban if he wins the bid, would be a total fool to fire Jim Hendry. While he may not the the smartest GM around, he is certainly the one that keeps the players here, and has their respect and trust. Signing them to discounts, even when agents like Steve Boras and their own peers aren't happy about it.

 

Cuban likes to get things done, and Hendry does that.....faster then most.

 

When your "ace" looks at a man like his second father, it's often not a good idea to send him packing.

http://chicagosports.chicagotribune.com/sports/baseball/cubs/cs-080714-jim-hendry-chicago-cubs-all-stars-rogers,1,6069263.column

[third eye]

I just hate that all these groups contain people from the financial industry. Meaning the odds are likely that they will run the team strictly for profit and not necessarily to win. (Purely speculation on my part, so don't jump down my throat for it) Madison Dearborn recently purchased my company. And trust me, after seeing many of the moves they've made so far, they are strictly in it for profit.

 

The Rangers are owned by Tom Hicks of Hicks Muse, an equally influential private equity firm. He wasn't exactly afraid to spend money on ARod and ChanHo, not that they were smart decisions. There are different motivating factors between making a private equity investment as an LP in a fund with a fiduciary (not to mention compensetory) responsibility and personally buying a sports franchise. Lets not forget that Cuban doesnt approach the financial decisions in his entreprenuerial ventures the same way he approaches his ownership of the Mavs.

[berniebrewer4life]

I'm surprised more people don't talk about this on the board. Oh well, can't get everything you want. I really hope Mark Cuban gets his bid awarded and becomes the new owner of the Cubs. He is the ideal guy for the job at a time like this. One thing is for sure, if Cuban does buy the team (say for $700 to $900 million), you know everyone is gonna be wiped out from a front office perspective. Good bye Jim Hendry, good bye Crane Kenney, good bye Mark McGuire (you suck btw)! Why do you think McDonough left right away as soon as he got his offer from the B'Hawks? Because of a situation like this. Please Mark Cuban! 8-[

 

Cuban if he wins the bid, would be a total fool to fire Jim Hendry. While he may not the the smartest GM around, he is certainly the one that keeps the players here, and has their respect and trust. Signing them to discounts, even when agents like Steve Boras and their own peers aren't happy about it.

 

Cuban likes to get things done, and Hendry does that.....faster then most.

 

When your "ace" looks at a man like his second father, it's often not a good idea to send him packing.

http://chicagosports.chicagotribune.com/sports/baseball/cubs/cs-080714-jim-hendry-chicago-cubs-all-stars-rogers,1,6069263.column

Unless the new owner already has a guy he wants in as a GM, i don't see any reason for him to fire Hendry(he might only give him a one or two year extention, but that's to be expected). The guy has done a pretty good job with trades and bringing in talent. My only complaint would be he doesn't have a "Top Notch" farm system, but you can blame that on the scouting director as much as the GM.

[UMFan83]

Looks like Canning is out for the time being, as several bidders have moved onto the next stage:

 

Tribune Co. informed would-be buyers of the Chicago Cubs and Wrigley Field today whether they would be invited to continue in the auction based on last week's initial bids, with at least one previous front-runner seemingly on the outs -- at least for now.

 

A group led by John Canning, chairman of Chicago private-equity firm Madison Dearborn, valued the Cubs, Wrigley and the team's stake in Comcast SportsNet at far less than the $1 billion or more that the four or five groups team owner Tribune Co. deemed satisfactory to continue, a source with knowledge of the process said.

 

http://chicagosports.chicagotribune.com/sports/baseball/cubs/chicago-cubs-bid-jul23,1,4464822.story

[Derwood]

so Canning is out and they are down to 3 bidders (or so i've been told). Any idea who the 3 are?

[vance_the_cubs_fan]

Looks like Canning is out for the time being, as several bidders have moved onto the next stage:

 

Tribune Co. informed would-be buyers of the Chicago Cubs and Wrigley Field today whether they would be invited to continue in the auction based on last week's initial bids, with at least one previous front-runner seemingly on the outs -- at least for now.

 

A group led by John Canning, chairman of Chicago private-equity firm Madison Dearborn, valued the Cubs, Wrigley and the team's stake in Comcast SportsNet at far less than the $1 billion or more that the four or five groups team owner Tribune Co. deemed satisfactory to continue, a source with knowledge of the process said.

 

http://chicagosports.chicagotribune.com/sports/baseball/cubs/chicago-cubs-bid-jul23,1,4464822.story

 

That might open this race up now. Had Canning's bid been competitive, I'm sure Selig would have put pressure on Trib to accept it. Now, maybe Cuban has a chance.

[Transmogrified Tiger]

Wasn't there another well known name besides Cuban and Canning that was going to bid? One with Chicago ties? Or am I crazy?

[vance_the_cubs_fan]

Wasn't there another well known name besides Cuban and Canning that was going to bid? One with Chicago ties? Or am I crazy?

 

Does Ricketts have Chicago ties?

 

Also, I think the pink hat guy was going to submit a bid too.

[Transmogrified Tiger]

Also, I think the pink hat guy was going to submit a bid too.

 

He was in a group though, right? Was it Canning's group?

[UMFan83]

so Canning is out and they are down to 3 bidders (or so i've been told). Any idea who the 3 are?

 

I should mention that the article says that there is a chance Canning can still make a stronger bid to show they are serious and get back in the race. I am guessing because of Selig's support for Canning, he should still be considered in the race. That said, I am really surprised their bid is that low. Maybe the group doesn't want it as much as we thought?

Edited July 23, 2008 by UMFan83

[vance_the_cubs_fan]

Also, I think the pink hat guy was going to submit a bid too.

 

He was in a group though, right? Was it Canning's group?

 

I'm not sure who's group he was in. I just know he was putting together a group.

[UMFan83]

Also, I think the pink hat guy was going to submit a bid too.

 

He was in a group though, right? Was it Canning's group?

 

No, he was his own group. I forgot his last name. Anixter I think? Also Levin is still in the mix I think (the owner of the Wolves)

[jersey cubs fan]

so Canning is out and they are down to 3 bidders (or so i've been told). Any idea who the 3 are?

 

I should mention that the article says that there is a chance Canning can still make a stronger bid to show they are serious and get back in the race. I am guessing because of Selig's support for Canning, he should still be considered in the race. That said, I am really surprised their bid is that low. Maybe the ground doesn't want it as much as we thought?

 

Or Selig told him to underbid as punishment for the Cubs recent pissing off of MLB.

[Jon]

so Canning is out and they are down to 3 bidders (or so i've been told). Any idea who the 3 are?

 

I should mention that the article says that there is a chance Canning can still make a stronger bid to show they are serious and get back in the race. I am guessing because of Selig's support for Canning, he should still be considered in the race. That said, I am really surprised their bid is that low. Maybe the ground doesn't want it as much as we thought?

Yeah, I didn't expect this.

[weatherdood]

Also, I think the pink hat guy was going to submit a bid too.

 

He was in a group though, right? Was it Canning's group?

 

No, he was his own group. I forgot his last name. Anixter I think? Also Levin is still in the mix I think (the owner of the Wolves)

 

My gut feeling is that Levin's the favorite in this...a local guy who's already had success in the sporting arena. Just a hunch, nothing more

[C.C.]

Also, I think the pink hat guy was going to submit a bid too.

 

He was in a group though, right? Was it Canning's group?

 

No, he was his own group. I forgot his last name. Anixter I think? Also Levin is still in the mix I think (the owner of the Wolves)

 

My gut feeling is that Levin's the favorite in this...a local guy who's already had success in the sporting arena. Just a hunch, nothing more

 

Why does MLB care if a guy is local or not? It's stupid.

[Derwood]

 

Why does MLB care if a guy is local or not?

 

It's stupid.

[Tyrant]

I bid $1,700. I guess I didn't cut it.

[daske17]

so Canning is out and they are down to 3 bidders (or so i've been told). Any idea who the 3 are?

 

I should mention that the article says that there is a chance Canning can still make a stronger bid to show they are serious and get back in the race. I am guessing because of Selig's support for Canning, he should still be considered in the race. That said, I am really surprised their bid is that low. Maybe the group doesn't want it as much as we thought?

 

I think that Canning put together a bid based on what the team and assorted faculties are worth, not how much Zell wants to sell them for.

 

The important thing to remember in this process is that while MLB owners have to approve the owner, Zell is looking to maximize his profit. Hence why he was willing to seperate Wrigley from the Cubs.

[TruffleShuffle]

just put the cubs on ebay, highest bidder wins

[Jon]

just put the cubs on ebay, highest bidder wins

The Tribune can't afford the eBay fees.

[Derwood]

++++++++++++A++ WOULD BUY AGAIN ++A++++++++++++++

[1480]

Two questions keep popping in my head 1. Which was the act of retribution? (the fine or giving Cannings group the F/U) 2. Did Selig actually believe that his guy would make the cut, just cause it's "his guy"??

[Guest]

http://www.suntimes.com/business/1071146,wrig072308.article

 

Sun-Times says there are 5 remaining, not 3 like the Trib said. Sun-Times link also confirms Canning didn't make the cut.

 

But best of all:

 

Making the cut as the Cubs winnowed the list of bids from an original 10 respondents was Mark Cuban, owner of basketball’s Dallas Mavericks, said a source familiar with the process. The identity of the other finalists couldn’t be learned.