Sale of Cubs May Be Completed Before End of Civilization
Some more news has trickled out on the impending sale of the Cubs and Sam Zell is hinting that the Ricketts may not be the new owner afterall (emphasis added).
"These are very difficult times. These are difficult
times to arrange financing," Zell said in an interview, adding that if
the Ricketts deal falls through, he is confident the media
company--which filed for Chapter 11 bankruptcy protection in
December--will find another buyer for the ballclub.
"We’ve made it very public that the Cubs don’t fit into the long
term picture of the Tribune," he said. "So if the Ricketts deal doesn’t
get done, I’m sure there will be other ones."
Sure, a lot of people have $900M or so lying around to spend on the Cubs as evidenced by the three legitimate bids Zell actually received. Of those three bids, Ricketts was supposedly not the highest but offered the most money up front, so if financing is the issue, a deal that would require even more to be financed is probably not going to have much more luck than the Ricketts are having now.
Of course...financing really isn't the issue it appears. According to this story dated May 19th, the Ricketts already secured a little over $850M of that $900M original bid; $403M from the sale of stock in Ameritrade and another $450M secured in bank loans (Clarification: Technically $753M is secured with a $100M coming from a private placement by Barclays which we do not know the status of, although the Ricketts claim they can cover it if it falls through). There was that story of Ricketts looking for 10 or so investors at $25M a pop, including celebrities like John Cusack, Bill Murray and Jim Belushi, but that round of financing was supposedly not critical to get the deal done according to "sources". Crain's Chicago Business also echoes that the financing is already in place and explains the real delay.
Thomas Ricketts, who is leading his family’s bid for Tribune Co.’s Cubs, has lined up financing for the deal, but a dispute over price is delaying the transaction.
The Ricketts family, whose original bid was close to $900 million, now
believes the real price should be closer to $850 million, a source
said. The sides disagree over the value of the team’s multiyear
contract to broadcast games on Tribune’s WGN network.
At issue is about $40 million to $50 million — roughly 6% of the
original bid, which also includes Wrigley Field and a 25% stake in
regional cable channel Comcast Sports.
So the Ricketts are either short $50M in financing and trying to talk Zell down or they really are unhappy with the broadcast rights. I'm going with option B here. It appears the Tribune made sweetheart deals with WGN radio and television to broadcast the Cubs games at below fair market value for a contract up to 10 years sometime last fall. Ricketts isn't buying any stake of WGN, but is supposedly getting a 25% stake in the Comcast sports channel that already broadcasts about 80 games a year. So naturally, if he owns the cable company he'd like more games to go on there or be sure he's getting paid the appropriate amount in any licensing deal to WGN.
So don't believe the Zell lies, the money is there for Ricketts, Zell just isn't liking the terms.
Hat tip to waxpaperbeercup that has been all over the sale process, also check out Mark Cuban's blog on why he bowed out and wasn't going to pay anything near the $1 billion asking price at this time. End of the world coming Decemeber 21st, 2012...John Cusack (Cub fan) is starring. Coincidence? I think not.
How about Kyle Farnsworth? I know he was consistently upper 90s.
If he puts up Soriano numbers I will be ecstatic
I think Javy is learning--but he's learning to make contact, not learning to lay off pitches out of the zone. A quick glance at his plate discipline numbers on Fangraphs shows that his contact rate is up, especially his contact rate out of the zone, but his swing rate is up too, especially his swing rate out of the zone.
I definitely saw ballpark radar guns go up to 102 on Kerry Wood back when he was still a starter, but who knows how accurate they were.
They've mentioned Henry Rodriguez (2013), Chris Carpenter, and Andrew Cashner as Cubs who have gone 100+. They said Rodriguez was tops at 100.8. Who knows before 2008?
He'll play regardless of what he does, just like Soriano played for seven years before they finally ditched him.
What can they do? All I can think of is they can keep hiring and firing hitting coaches until they find one who can get him to stop hitting balls with the handle of the bat.
(All those broken bats added to his paycheck is just a bit much.)
Lester will probably be all right.
I think Arrieta might have added too much muscle preparing for that butt-naked ESPN photo shoot. Pitchers are supposed to be loose, not muscled up.
I have basically written off Heyward for this year -- if you are working on major swing changes in late July, you are going to struggle. Hopefully, he can be more productive at the plate next year. It will be interesting to see what they do with him if the Cardinals keep winning and close the gap. Heyward is dead last in the NL in slugging and in the bottom 5 in OPS -- yet still has a positive WAR. Hunh.
Has anybody in a Cub uniform ever thrown a ball 103 before?
He certainly looks better, no doubt, and is a different player than what we saw when he first came up. Full credit to him for changing his approach and saving his career.
But he has zero walks in 35AB since the break, and 10 in 251 AB all year. He does seem to be able to hit some pitches out of the zone, but, a guy with his pop should be drawing more walks. However, it's easy to forget he is still only 23, and probably trying to make an impact to prove he should be an everyday player.
The usual suspects, Molina and Wong. Gyorko drew a walk with two outs, none on. I recall us (particularly Szczur and Bryant) swinging at everything Familia threw.
Yup. Thanks Q
Here it is: https://www.youtube.com/watch?v=WTNekUcY-XM
I for one hope that Sosa comes back soon.
O/B interesting you should mention that. Google ESPN Science Aroldis Chapman and you'll be treated to how his mechanics and delivery are possibly historic. It's the 120% of his body stretch plus the torque. They compare him to the Unit and NRyan.
Amazing how much lower the production gets when Bryant runs into a mini-cold streak. He doesn't stay cold for long. If just one of Zobrist or, gulp, Heyward, gets hot, they oughta have one more really nice winning streak in them. Having a closer that you have absolute confidence in can't hurt.