Cubswin11 wrote:squally1313 wrote:The Ricketts bought the Cubs, Wrigley, and 25% of Comcast for $900m in 2009. For simplicity, let's say they just bought the Cubs for $900m. In 2018, Forbes estimated the Cubs were worth $2.8b. With a B. So, no, I don't give a horsefeathers how much money they are or aren't making on a year to year basis.
I certainly agree that they obviously have the money/net worth to go do whatever they want (even if they had to tap in to personal money vs just Cubs "business" money). But this is all a paper gain, they don't have $2B in cash all the sudden. We know MLB has lending limits/ratios teams can't exceed so there are restrictions for them to just go lend against their paper gain (which is a whole other discussion and we can argue if that's stupid or good). It's possible they've maxed out what they can borrow going by MLB rules and spent that money on things like the renovations, neighborhood projects, ST facility, Dominican facility, etc. so maybe they are tight from a cash flow perspective because maybe those projects cost more money, aren't coming on line as fast as they thought or not returning what they projected (or maybe they are just being plain greedy and pocketing money). Which is pretty dumb and poor planning knowing this offseason was coming and they certainly can dump personal money in, you'd assume, if they really wanted to make something happen. I'm not defending them by any means, just trying to figure out what the hell could be going on.
But it can't be this dire. Their ownership has gone about as well as they could have possibly expected, save another title or two. And it's gone on during a period of constant economic growth across the board. There's no way that this kind of success can have them backed into a corner like this, because that means pretty much any other alternative would have made them declare bankruptcy or something along those lines.