Trib Shareholder Suggests Sale of Cubs
Submitted by cubsnet on Tue, 2006-03-14 11:42.
Ivy Chat picked up a statement from the CEO of Ariel Capital Management, the 5th largest shareholder of the Tribune Co., suggesting that the Tribune sell the Chicago Cubs to focus on its core businesses: "Selling (the Cubs and their Food Network investment) would be the intelligent thing to do. It's time for them to focus on what they do best." 1060west also comments. See related poll question.
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Cuban Interested?
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Cubs for sale
I'd have no problem with the Trib selling the Cubs. The only problem I would have is 'to who'?? Donald Trump would be my first choice. Only problem with that is guys like Steinbrenner wouldn't want a new kid on the block that would throw some big bucks around. I'd hope that we'd see the last of corporate ownership. It hasn't been very successful ANYWHERE in professional sports.
When a person over a company
When a person over a company owns any team it makes for a better team all around the owners usually take pride in them some company holding meetings and voting on what's best and knowing nothing about it's players doesnt turn out good as far as I see. Where food network came into this I don't know but if i'm online stock trading i'll go see about picking up some shares.
Selling the Cubs
The idea that the Tribune would sell the Cubs is one that was bound to surface one of these days, especially given the economic pressures that exist on the newspaper business. Although having the Cubs to broadcast helps WGN, it is one of those issues that can be written into a sales contract.
In my opinion, the real question is who will buy the Cubs? The best situation would be a buying consortium that essentially guarantees that the Cubs remain in this City. So it's time for real Cubbie Fans to start thinking about putting their money where their mouths have been. My guess would be that a PR savvy Financial Firm (maybe a Chicago based outfit like William Blair & Co??) could help figure out the financing.
But the effort takes leadership. I'm not your guy, although I would chuck in some bucks for shares. The question is what's the Team worth and how do we raise the money? Would the Tribune sell on the installment plan?
Fun stuff.
Respectfully,
FEARLESS BEAR
Cubs sale
And you really think the owners would approve a consortium of fans purchasing the team? Seriously??? I suggest you look to the situation in DC for your answer.
Look at Green Bay
Take a look at Green Bay, where the team is owned by hundreds of people. The point is (if you are a Cub fan) you need to guarantee the team is always in Chicago. (God forbid they would move to another City, like the Expos did to D.C., and get respect with a good season.) I do not know details of what you are talking about in D.C. If its the stadium fiasco, well, no one is going to buy the Cubs without buying or locking up Wrigley Field long term, assuming they want to stay in Chicago.
Respectfully,
FEARLESS BEAR