Cubs owners sell

[rich76]

the team for 8.2 billion....taking place after the 2007 season. Guess they got tired of waiting.

[Blackhawkaholic]

If they will take J$ money i will head the ownership group.

[rich76]

looking for any partners? I've got a few extra I could spare.

[lawyertom]

You may not need that much Rich. It was the Tribune Co. that was sold for $8.2 billion, but the Cubs are not part of that sale. The guy that bought the Tribune, Sam Zell, is a minority shareholder in the White Sox, and MLB won't let him own both at the same time, so the Cubs will be sold off separately from the Tribune, along with a 25% interest in a local sports cable channel at the end of the 2007 season.

[rich76]

Thanks Tom...that number DID seem high.Zell is a real estate guy no?

[lawyertom]

Zell is a 65 year old real estate guy, in fact he just sold his company 2 months ago for $39 billion. Yes $39 billion.

[rich76]

you think he needs to adopt a younger bother?

[bballjer44]

peanuts of a sale, look at this one today, largest ever.

K.K.R. Offer of $26 Billion Is Accepted by First Data

[rich76]

baller? look ^ 3 posts......largest ever?

[thunder gulch]

I heard one estimate has the Cubs at $440 million (not sure if that includes Wrigley Field or not).

One the named "interested" potential buyers was Bill Murray.

[herbhub]

Zell had to sell the Cubs , since he already owned part of the White Sox.Dual ownership is not allowed in MLB.

[rich76]

Originally Posted by herbhub

Zell had to sell the Cubs , since he already owned part of the White Sox.Dual ownership is not allowed in MLB.

Zell didn't own the Cubs.................?

from lawyertom...already posted above:

You may not need that much Rich. It was the Tribune Co. that was sold for $8.2 billion, but the Cubs are not part of that sale. The guy that bought the Tribune, Sam Zell, is a minority shareholder in the White Sox, and MLB won't let him own both at the same time, so the Cubs will be sold off separately from the Tribune, along with a 25% interest in a local sports cable channel at the end of the 2007 season.

[bballjer44]

Originally Posted by thunder gulch

I heard one estimate has the Cubs at $440 million (not sure if that includes Wrigley Field or not).

One the named "interested" potential buyers was Bill Murray.

Chicago Tribune says Wrigley is worth another 90-100 million above the 440.

[bballjer44]

Originally Posted by herbhub

Zell had to sell the Cubs , since he already owned part of the White Sox.Dual ownership is not allowed in MLB.

Zell, a real estate magnate who already owns part of his hometown Bulls and White Sox, issued no comment about why he's not interested in keeping the Cubs in connection with the $8.2 billion deal. The team is one of Tribune's richest assets.

Bidding for the ballclub and historic Wrigley Field, however, is certain to be fiercely competitive. Analysts have estimated the Cubs could fetch $600 million or more, a far cry from the $20.5 million Tribune paid in 1981.

[ocho cinco]

Originally Posted by bballjer44

Bidding for the ballclub and historic Wrigley Field, however, is certain to be fiercely competitive. Analysts have estimated the Cubs could fetch $600 million or more, a far cry from the $20.5 million Tribune paid in 1981.

Hell, now-a-days thats a players salary if you play on the Yankees of course