Posted on 17 February 2012 by Lou
The Cubs still owe compensation to the Boston Red Sox for allowing the north siders to hire GM Theo Epstein as the Cubs new President of Baseball Operations. After the sides tried to work out the determination of that compensation on their own, the 2 sides have agreed to let Commissioner Bud Selig make the call. Although both sides remain mum on the situation, each team has presented a written argument to Selig regarding what it believes to be the proper “value” or “consideration for the Epstein departure to the Cubs. Selig has given no indication where he stands on the issue and he has not given a timetable for when his decision will be disclosed to the teams.
Now that it looks like Carl Crawford is going to start the season on the DL, maybe we can send Alfonso Soriano their way for a few extra million?! He could even DH for them once Big Papi leaves after the 2012 campaign.
We’ll keep you posted as soon as we hear anything…
Posted on 23 November 2008 by Lou
Bob DuPuy, MLB’s President and Chief Operating Officer, has met with the 4 remaining bidders likely to make final offers by the December 1, 2008 deadline imposed by MLB and the Cubs. After the bidders conducting due diligence of the Cubs in September, and after Sam Zell, the current owner of the Cubs, analyzed the offers submitted by the bidders, MLB and the Cubs announced that a second round of offers would need to be submitted by December 1, 2008 in order to be considered for the sale. The minimum bid that can be submitted at this point in the process is $1 billion.
In earlier rounds, it was widely believed that Mark Cuban, owner of the NBA’s Dallas Mavericks, had submitted the highest bid to date, estimated to be $1.3 billion. Earlier this week, however, the SEC announced its intention to pursue a civil proceeding against Cuban involving insider trading of personal stock held by Cuban in the company momma.com. It is unclear how this lawsuit will affect Cuban’s already-shaky standing with MLB (it has been rumored that Commissioner/Dictator Bud Selig will never allow Mark Cuban to own an MLB baseball team on his watch).
Neither MLB nor the Cubs have announced the front-runner for the Cubs sale and they have refused to discuss the specific details about any of the bids. Assuming the quick review of the final bids before the end of the year, the winning bidder could be submitted to MLB ownership committee review and approval when the group meets again in Scottsdale, Arizona in January 2009.
Posted on 07 November 2008 by Lou
Entrepeneur Mark Cuban is one of 5 finalists to purchase the Chicago Cubs from owner Sam Zell. His bid was either the highest or 2nd highest bid in terms of dollar amount. But he faces an obstacle that none of the other 4 finalists face – getting approval from MLB owners. There have been many rumors regarding Selig’s desire to keep Cuban out of baseball’s “old boy” network, but now sources from MLB are saying what everyone else has been speculating: “There’s no way Bud and the owners are going to let that happen.” See Chris De Luca’s Article in the Chicago Sun Times. To put it more bluntly, Cuban has no chance of becoming the owner of the Chicago Cubs.
This is another instance of Dictator… oops, I mean Commissioner Selig exerting too much power and control in his sport. It will be a glorious day when Selig’s term as Dictator… oops there I go again, Commissioner ends in 4 long years (he recently signed an extension, his final one, that will allow him to remain Commissioner through the 2012 MLB season).
Mark Cuban would offer an innovative style to MLB. He would create, develop and implement new marketing and media ideas that would broaden the reach of MLB. He would not be afraid to voice his concerns over the direction the league was heading and over the powers that be. He would be a breath of fresh air to a league that had become stagnant with its “let’s not rock the boat” owners. It’s a shame that Cuban won’t be given a fair shake to buy the Cubs. And although we probably won’t hear any great clips from Cuban as the owner of the Cubs, I’m sure after MLB officially approves the Cubs sale to the bidder that kissed ass the best, we’ll hear some great sound bites from Cuban about Dictator Selig and his band of Merry “Yes” Men.