Archive | Tom Ricketts Family

Bankruptcy Court Gives Tribune Co. to Proceed with Cubs Sale to Ricketts Family

Posted on 16 October 2009 by Lou

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All hands on deck.  The completion of the Cubs sale to the Ricketts Family is inching closer and closer to fruition. Earlier this week, a U.S. bankruptcy court judge ruled that the Tribune Co. can proceed with the sale of the Chicago Cubs to the Ricketts Family for the whopping sum of $845 million. The 1-day bankruptcy filing took place to protect the Ricketts Family from future lawsuits by Tribune Co. creditors who might try to seek a claim against the Chicago Cubs entity.  Now that the courts have ruled that the Tribune Co. and the Cubs can proceed with the sale, things should move along quickly.

Yippee!!!  As I have said before, the Cubs really need to get the Ricketts Family on board before the start of the free agency period (which begins 15 days after the end of the World Series) if the Cubs are to have any chance of making a tiny “dip” (definitely not a big splash) in the free agent market.  With the departure of Rich Harden and hopefully Milton Bradley (even if we have to eat some of his salary), that should free up a little money from which GM Jim Hendry can add a piece or two. The Cubs clearly won’t be able to land a Matt Holliday or Jason Bay, but the Cubs do have some holds that need to be filled.  Having the Ricketts family in place to give guidance to Hendry by the end of October will be a huge step in the right direction.

Go Cubs Go!

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Cubs Looking for Answers…

Posted on 10 October 2009 by Lou

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The Cubs will be looking for answers in 2010.  Let’s hope the Ricketts family has their act together before the end of the World Series.  The Ricketts family will need to be on the same page with GM Jim Hendry and Manager Lou Pinella before the start of free agency in late November.

Pitching-wise, the Cubs are set with a starting rotation of Carlos Zambrano, Ted Lilly, Ryan Dempster, Randy Wells and Tom Gorzelanny.  The Cubs will likely say goodbye to free agent pitchers Rich Harden and Kevin Gregg, but will look to sign John Grabow soon to serve as the team’s set-up man for Carlos Marmol.  The Cubs will also probably like to try to re-sign Reed Johnson despite his 2009 injury issues.

After signing Grabow, the Cubs certainly need to find a way to trade troubled outfielder Milton Bradley.  Not sure who is going to be willing to take him, but the Cubs will likely have to pick up some of the $20 million still owed to him over the next 2 years.  Not good – but it is what it is.

GM Jim Hendry will also need to figure out who is going to start at 2nd base and center field in 2010.

So while there are some voids that need to be filled in 2010, the Cubs can take a more cautious approach this off-season to see if the team can right the ship after an under-achieving 2009 MLB schedule…

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MLB Approves Sale of Chicago Cubs to Ricketts Family

Posted on 07 October 2009 by Lou

It’s official!  All 29 other MLB team owners unanimously approved the sale of the Chicago Cubs to the Ricketts family.  The deal is expected to be completed by the end of October 2009, and it is believed that the Ricketts family will assume control over the day-to-day operations of the Cubs prior to the free agency period that starts up within days after the end of the World Series Fall Classic.

MLB Commissioner Bud Selig had this to say about the owners approval:  “We’re extremely pleased that the sale process is drawing to a close, and we are confident that the Ricketts family will be great owners and custodians of the Chicago Cubs.  All of us at Major League Baseball are grateful to the Tribune Company for their years of stewardship of this proud and historic franchise.”

That is good news that the Ricketts family should be in position to make decisions prior to the start of 2010 free agency, but because GM Jim Hendry has mortgaged the team so much of the last 2 years, the Cubs will not be a big player anyway.  Hopefully Ricketts and Hendry can get together to at least make a few minor moves that will bring quality players in at an affordable price for the 2010 season… Management needs to focus on players who tend to stay healthy during the course of the year, players that are good in the clubhouse and players that are fan-friendly to the faithful that trek to Wrigley Field in droves all season long…

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