The Sale of the Cubs

ctcf · June 11, 2007

The Cuban thread got me curious. Does anyone here know when exactly the Cubs will go on sale and how long processes like this have taken in the past?

Lefty · June 11, 2007

Zell has said the sale will be after the season. But there is still a chance that the Tribune sale falls through if financing becomes a problem. There have already been other big deals which have been complicated by financing issues. With interest rates going up and markets bwecoming more volatile, I would say there is a 25% chance that a sale does not happen.

An interesting possibilty is a Cubs IPO. The shares would not have full voting rights, but would probably pay a small dividend. Given the Cubs' popularity, it would sell at a big premium to its economic value. This would give a buyer some cushion to a worsening financial atmosphere.

chuckywang · June 11, 2007

Zell has said the sale will be after the season. But there is still a chance that the Tribune sale falls through if financing becomes a problem. There have already been other big deals which have been complicated by financing issues. With interest rates going up and markets bwecoming more volatile, I would say there is a 25% chance that a sale does not happen.

An interesting possibilty is a Cubs IPO. The shares would not have full voting rights, but would probably pay a small dividend. Given the Cubs' popularity, it would sell at a big premium to its economic value. This would give a buyer some cushion to a worsening financial atmosphere.

Darn, I had hoped it would be a 7-day eBay auction.

A New Era · June 11, 2007

Zell has said the sale will be after the season. But there is still a chance that the Tribune sale falls through if financing becomes a problem. There have already been other big deals which have been complicated by financing issues. With interest rates going up and markets bwecoming more volatile, I would say there is a 25% chance that a sale does not happen.

An interesting possibilty is a Cubs IPO. The shares would not have full voting rights, but would probably pay a small dividend. Given the Cubs' popularity, it would sell at a big premium to its economic value. This would give a buyer some cushion to a worsening financial atmosphere.

http://img9.mediabistro.net/blogs-mbtoolbox-original-bush-confused-thumb.jpg

BeerHere · June 11, 2007

Zell has said the sale will be after the season. But there is still a chance that the Tribune sale falls through if financing becomes a problem. There have already been other big deals which have been complicated by financing issues. With interest rates going up and markets bwecoming more volatile, I would say there is a 25% chance that a sale does not happen.

An interesting possibilty is a Cubs IPO. The shares would not have full voting rights, but would probably pay a small dividend. Given the Cubs' popularity, it would sell at a big premium to its economic value. This would give a buyer some cushion to a worsening financial atmosphere.

There is no way the other owners would approve this type of sale. Someone will step up shell out a ton of cash.

coreyMVP · June 11, 2007

If the restrictions on the Cubs taking on post-2007 salaries are true, than in effect an "after the season" sale freezes this crappy roster into 2008.

Wonderful.

E.J. · June 11, 2007

Yep. Depending on how long the sale takes, we're pretty much screwed for 2008. I could see the sale taking quite some time and us basically doing nothing in the offseason.

killthegoat06 · June 11, 2007

Zell has said the sale will be after the season. But there is still a chance that the Tribune sale falls through if financing becomes a problem. There have already been other big deals which have been complicated by financing issues. With interest rates going up and markets bwecoming more volatile, I would say there is a 25% chance that a sale does not happen.

An interesting possibilty is a Cubs IPO. The shares would not have full voting rights, but would probably pay a small dividend. Given the Cubs' popularity, it would sell at a big premium to its economic value. This would give a buyer some cushion to a worsening financial atmosphere.

http://img9.mediabistro.net/blogs-mbtoolbox-original-bush-confused-thumb.jpg

HAHAHA

Lefty · June 12, 2007

Tribune stock closed today nearly 10% below Zell's offering price. The market is starting to discount the possibility that the deal will fall through. I posted yesterday that I thought the odds of the deal falling apart were 25%. Perhaps I was too conservative. It could be 50/50 based on Tribune's current stock price.

Amazing_Grace · June 12, 2007

Yep. Depending on how long the sale takes, we're pretty much screwed for 2008. I could see the sale taking quite some time and us basically doing nothing in the offseason.

I've been making this point several times, but 2008 will have to be a rebuilding year because of the sale. The sale will take time, and the new owner will want to clean house and put his own personnel in. Zambrano likely won't be resigned and we can pretty much rule out any big FA signings. The best thing for this year would be to trade as much salary as we can and get some prospects some PT so hopefully we can see what we need to make a run in 2010.

Lefty · June 20, 2007

Tribune stock closed below 30 today, well below the $34 announced price. It looks like the deal is in serious jeapordy.

Banedon · June 20, 2007

Tribune stock closed below 30 today, well below the $34 announced price. It looks like the deal is in serious jeapordy.

What does that mean for the Cubs?

5.3k · June 20, 2007

Tribune stock closed below 30 today, well below the $34 announced price. It looks like the deal is in serious jeapordy.

What does that mean for the Cubs?

They will suck for 99 more years.

ctcf · June 20, 2007

Tribune stock closed below 30 today, well below the $34 announced price. It looks like the deal is in serious jeapordy.

What does that mean for the Cubs?

They will suck for 99 more years.

Anyone actually able to confirm that all this would affect the sale of the Cubs?

BDWeav71 · June 21, 2007

Tribune stock closed below 30 today, well below the $34 announced price. It looks like the deal is in serious jeapordy.

What does that mean for the Cubs?

They will suck for 99 more years.

Anyone actually able to confirm that all this would affect the sale of the Cubs?

I don't know if this is true or not, but it may be because the Cubs are one of the few entities in the Tribune organization that is currently making money off their investment? Just a guess.

anabiono · June 21, 2007

this deal better not be in jeopardy...screw trib...someone else needs to buy these cubs dammit

Lefty · June 21, 2007

Tribune stock closed below 30 today, well below the $34 announced price. It looks like the deal is in serious jeapordy.

What does that mean for the Cubs?

Initially it will mean status quo. My concern is if Tribune will be in limbo the Cubs may be further neglected. Maybe that's not a bad thing. But status quo means Hendry stays and I think that is the Cubs biggest single problem.

seanimal · June 21, 2007

reading that the sale might fall through is probably the most heartbreaking thing that has happened to me since my gamecube was stolen.

oldcubsfan · June 21, 2007

the deal isn't falling through.

"Tribune Co. (TRB) accepted for payment 126 million of the 218.1 million shares tendered in the offer, at a price of $34 a share.

The shares tendered represent about 90% of shares outstanding, and the shares that Tribune will buy back represent about 52% of shares outstanding.

Following the repurchase, Tribune said it will have about 117 million shares outstanding. The company said it will begin payment for the shares no later than June 5. "

RegulusBlue · June 22, 2007

Yeah, I was pretty sure that it was a done deal.

badgercub · June 22, 2007

Zell has said the sale will be after the season. But there is still a chance that the Tribune sale falls through if financing becomes a problem. There have already been other big deals which have been complicated by financing issues. With interest rates going up and markets bwecoming more volatile, I would say there is a 25% chance that a sale does not happen.

An interesting possibilty is a Cubs IPO. The shares would not have full voting rights, but would probably pay a small dividend. Given the Cubs' popularity, it would sell at a big premium to its economic value. This would give a buyer some cushion to a worsening financial atmosphere.

Doubt this will ever happen. As far as I know the only publicly owned professional sports franchise is the Green Bay Packers.

Soul · June 22, 2007

Zell has said the sale will be after the season. But there is still a chance that the Tribune sale falls through if financing becomes a problem. There have already been other big deals which have been complicated by financing issues. With interest rates going up and markets bwecoming more volatile, I would say there is a 25% chance that a sale does not happen.

An interesting possibilty is a Cubs IPO. The shares would not have full voting rights, but would probably pay a small dividend. Given the Cubs' popularity, it would sell at a big premium to its economic value. This would give a buyer some cushion to a worsening financial atmosphere.

Doubt this will ever happen. As far as I know the only publicly owned professional sports franchise is the Green Bay Packers.

I just want a guy running the Cubs who knows what he is doing and can't stand losing. That's all. It seems to be the most conducive arrangement for winning in MLB from what I've seen. I don't see an IPO as helping put that situation into effect.

Chocolate Milk · June 25, 2007

Link

Amazing_Grace · June 25, 2007

Link

Thanks for the link. That's good info. If that's true, then Cuban, or anyone else, would have to be approved by MLB before they bought the team rather than after. That will make it a bit more difficult for Cuban to end up with the team, since he could be quietly pushed aside early in the running rather than having a situation where he ended up high bidder, and the owners would have to either approve him or risk a prolonged legal battle with both him and the Tribune.

SouthSideRyan · June 25, 2007

But it's a process that will be fair and open,"

Completely untrue.

Edited June 25, 2007 by SouthSideRyan

The Sale of the Cubs

Recommended Posts

Top Posters In This Topic

Top Posters In This Topic

Create an account or sign in to comment

Create an account

Sign in

Member Statistics

Prospect News & Highlights

Recent News

Notes & Rumors

Recent Blogs