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jthig32 · 07-24-2008, 02:09 PM

Report: Cubs cut number of bids to five, including Cuban

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The number of bids to buy the Chicago Cubs is down to five.
The team has cut the number of bids to five, all at least $1 billion or more, according to the Chicago Sun-Times. The Sun-Times reported last week that the number of bids to buy the Cubs was 10 and more than 20 made bids on just Wrigley Field. In a conflicting report, the Chicago Tribune said the number was at least seven.

Dallas Mavericks owner Mark Cuban was among the finalists to buy the team, the Sun-Times reported. The other finalists' identities were unknown.
Among the offers the Cubs rejected was a bid from an investment group led by John Canning Jr., a part-owner of the Milwaukee Brewers and close associate of commissioner Bud Selig.

The Tribune Co.'s auction of the Cubs includes a plan to sell the ballpark separately. The company, which also owns the Chicago Tribune, thinks it can potentially make more money by selling the team and stadium separately.
In June, Major League Baseball, which must approve the sale of any team, sent out financial books on the three properties -- the Cubs, Wrigley Field stadium and the team's 25 percent stake in a regional sports cable channel -- to preapproved bidders.

Andrew Zimbalist, an economics professor at Smith College who specializes in sports, said the Cubs could fetch more than the record $660 million paid for the Boston Red Sox in 2002 by a group headed by billionaire commodities trader John Henry. The Tribune Co. paid $20.5 million for the team in 1981.
The final sale must be approved by three-quarters of MLB owners.

07-24-2008, 02:09 PM	#10
jthig32 Lazy Moderator Join Date: Jul 2004 Location: Lazytown Posts: 18,721	Report: Cubs cut number of bids to five, including Cuban Link The number of bids to buy the Chicago Cubs is down to five. The team has cut the number of bids to five, all at least $1 billion or more, according to the Chicago Sun-Times. The Sun-Times reported last week that the number of bids to buy the Cubs was 10 and more than 20 made bids on just Wrigley Field. In a conflicting report, the Chicago Tribune said the number was at least seven. Dallas Mavericks owner Mark Cuban was among the finalists to buy the team, the Sun-Times reported. The other finalists' identities were unknown. Among the offers the Cubs rejected was a bid from an investment group led by John Canning Jr., a part-owner of the Milwaukee Brewers and close associate of commissioner Bud Selig. The Tribune Co.'s auction of the Cubs includes a plan to sell the ballpark separately. The company, which also owns the Chicago Tribune, thinks it can potentially make more money by selling the team and stadium separately. In June, Major League Baseball, which must approve the sale of any team, sent out financial books on the three properties -- the Cubs, Wrigley Field stadium and the team's 25 percent stake in a regional sports cable channel -- to preapproved bidders. Andrew Zimbalist, an economics professor at Smith College who specializes in sports, said the Cubs could fetch more than the record $660 million paid for the Boston Red Sox in 2002 by a group headed by billionaire commodities trader John Henry. The Tribune Co. paid $20.5 million for the team in 1981. The final sale must be approved by three-quarters of MLB owners. __________________ Current Mavs Salary outlook (with my own possibly incorrect math and assumptions) Mavs Net Ratings By Game (Using BRef.com calculations for possessions, so numbers are slightly different than what you'll see on NBA.com and ESPN.com Last edited by jthig32; 07-24-2008 at 02:09 PM.