Random Cubs Musings

[Bull]

http://espn.go.com/espnradio/play?id=11772291

 

Olney and Law start talking Maddon/Cubs at about 27 minutes

Anything interesting/new?

[Vinestal]

http://espn.go.com/espnradio/play?id=11772291

 

Olney and Law start talking Maddon/Cubs at about 27 minutes

Anything interesting/new?

Just strong speculation that Maddon will join the Cubs and praise for the way the Cubs have built up the team. Nothing new.

[Guest]

Danny Ecker ‏@DannyEcker 2m2 minutes ago

The Cubs franchise is currently worth $2 billion, according to @sbjsbd: http://www.sportsbusinessdaily.com/Journal/Issues/2014/10/27/Franchises/Franchise-valuations.aspx?utm_campaign=Wildfire+Message+-+Team+prices+continue+to+soar%2C+with+values...&utm_content=po_1569702&utm_medium=Social&utm_source=Twitter …

 

what is it gonna be worth when it's got perennial contender status with established younger core of players, a newly renovated wrigley, and a bunch of other stuff that's supposed to be coming like TV money and the hotel?

[SouthSideRyan]

The Cubs’ value, calculated for the team’s current sale of around 20 percent of the club, is in excess of $2 billion, sources said, with that process expected to finish soon. Galatioto Sports Partners is managing the sale. GSP representatives declined to comment.

 

Huh?

[Guest]

The Cubs’ value, calculated for the team’s current sale of around 20 percent of the club, is in excess of $2 billion, sources said, with that process expected to finish soon. Galatioto Sports Partners is managing the sale. GSP representatives declined to comment.

 

Huh?

 

 

well, they buried the lede, as i didn't even see that, but isn't that just the minority stakes they talked about selling way back?

[SouthSideRyan]

The Cubs’ value, calculated for the team’s current sale of around 20 percent of the club, is in excess of $2 billion, sources said, with that process expected to finish soon. Galatioto Sports Partners is managing the sale. GSP representatives declined to comment.

 

Huh?

 

 

well, they buried the lede, as i didn't even see that, but isn't that just the minority stakes they talked about selling way back?

 

I'd only really heard that the one time in passing, this sounds rather definitive down to acknowledging the group processing the sale.

[Guest]

What was the final tally on the cost of the renovations again?

[Guest]

What was the final tally on the cost of the renovations again?

 

$575M for everything IIRC

[Guest]

What was the final tally on the cost of the renovations again?

 

$575M for everything IIRC

 

Yeah, I'm seeing 375 and 575 in searching. Presumably 375 is the park itself and the other 200 is triangle building/hotel?

[Guest]

What was the final tally on the cost of the renovations again?

 

$575M for everything IIRC

 

Yeah, I'm seeing 375 and 575 in searching. Presumably 375 is the park itself and the other 200 is triangle building/hotel?

 

i believe that's right. iirc, the cost for the park stuff went from 300 to 375 this year, with the accelerated timeline and the stuff they added to the revised plan.

[SouthSideRyan]

What was the final tally on the cost of the renovations again?

 

$575M for everything IIRC

 

Yeah, I'm seeing 375 and 575 in searching. Presumably 375 is the park itself and the other 200 is triangle building/hotel?

 

I thought even the triangle was included on the 350 which was elevated to 375 when they went to 4 years rather than 5. My recollection was the 200M was all outside Wrigley's (expanded?) footprint.

[SouthSideRyan]

I know it seems like common sense, but I don't know how reputable that publication is...they didn't just take the rumored cost of the 20% purchase and multiply it by 5 did they?

[Guest]

I assume that's what they did. With projected valuations that's as good as an indicator as any.

[Guest]

I'm having a conversation with a buddy and was wondering what you guys think..

 

What would be a "get in the park" secondary market price for a Cubs world series game? what about a potential clincher?

 

How about an average ticket (for both of those)?

[SouthSideRyan]

I assume that's what they did. With projected valuations that's as good as an indicator as any.

 

How? I'm not going to pay 20% of full market value so I can be a silent stockholder.

[Guest]

I assume that's what they did. With projected valuations that's as good as an indicator as any.

 

How? I'm not going to pay 20% of full market value so I can be a silent stockholder.

 

So you're saying that if they were basing it on the purchase price of the 20%, they are actually probably worth significantly more than the $2B?

[Guest]

I assume that's what they did. With projected valuations that's as good as an indicator as any.

 

How? I'm not going to pay 20% of full market value so I can be a silent stockholder.

 

That kinda gets into the definition of 'market value', which you can take several ways. In the startup world at least, it's extremely common to extrapolate market value that way when you raise money.

[jersey cubs fan]

I assume that's what they did. With projected valuations that's as good as an indicator as any.

 

How? I'm not going to pay 20% of full market value so I can be a silent stockholder.

 

That kinda gets into the definition of 'market value', which you can take several ways. In the startup world at least, it's extremely common to extrapolate market value that way when you raise money.

 

I don't think the Cubs are considered a start-up, although the lack of emphasis on wins does somewhat equate to the lack of necessity for profits.

[Guest]

I assume that's what they did. With projected valuations that's as good as an indicator as any.

 

How? I'm not going to pay 20% of full market value so I can be a silent stockholder.

Market Cap for any public company is based on the current trading price multiplied by shares (of the appropriate type) outstanding.

[jersey cubs fan]

I assume that's what they did. With projected valuations that's as good as an indicator as any.

 

How? I'm not going to pay 20% of full market value so I can be a silent stockholder.

Market Cap for any public company is based on the current trading price multiplied by shares (of the appropriate type) outstanding.

 

Yes, there's nothing wrong with valuing a company in this way.

 

Any attempt to take control would require a premium above the current valuation, but that's not really necessary to consider in this situation.

[Guest]

Danny Ecker ‏@DannyEcker 7m7 minutes ago

Ricketts spokesman not disputing @sbjsbd report that @Cubs are closing in on minority stake sale: http://www.chicagobusiness.com/article/20141028/BLOGS04/141029792/cubs-worth-2-billion-ricketts-family-selling-20-percent-stake-soon …

 

http://www.chicagobusiness.com/article/20141028/BLOGS04/141029792

Edited October 28, 2014 by David

[Andy]

I'm having a conversation with a buddy and was wondering what you guys think..

 

What would be a "get in the park" secondary market price for a Cubs world series game? what about a potential clincher?

 

How about an average ticket (for both of those)?

SRO tickets for tonight's WS game in KC are starting at $328 on StubHub. Factoring in the bigger city, smaller park and bigger fan base, I'm thinking it might be close to double that for a Cubs game. That may even be conservative.

[Guest]

I'm having a conversation with a buddy and was wondering what you guys think..

 

What would be a "get in the park" secondary market price for a Cubs world series game? what about a potential clincher?

 

How about an average ticket (for both of those)?

SRO tickets for tonight's WS game in KC are starting at $328 on StubHub. Factoring in the bigger city, smaller park and bigger fan base, I'm thinking it might be close to double that for a Cubs game.

 

In addition to those factors, there's the fact that it's the Cubs (and what that entails aside from those things). I think it'd be triple that for SRO. For a clincher, it might start at $2k, IMO. Think it'd approach $10K for a pretty good seat.

[Cubswin11]

I'm having a conversation with a buddy and was wondering what you guys think..

 

What would be a "get in the park" secondary market price for a Cubs world series game? what about a potential clincher?

 

How about an average ticket (for both of those)?

I'm guessing the get in the park SRO type tickets would be around $750 and $1,000+ for a clincher. For regular seats I bet it would be near impossible to find anything under $1,000 on the secondary market for either scenario and likely much higher.

[UMFan83]

Yeah I was going to say, I am thinking $1,000, but I'm probably just guessing.

 

My only experience in going to championship round games was going to game 2 of the 2010 Cup Finals for the Hawks. To get in the door there, it "only" cost me $300, but the Cubs fan base is larger than the Hawks, baseball is more popular and mainstream than hockey in Chicago, and the historical significance of the event would case that number to be much higher.