Posted on 07 January 2009 by Lou
With the recent announcement that the Cubs will name the winning bidder for the Cubs with the next few weeks, Mark Cuban, owner of the NBA’s Dallas Mavericks and early bidder for the purchase of the Chicago Cubs, made some interesting statements in his blog – Blog Maverick on Tuesday. Check out the article for yourself – it is a great read.
I loved his comic relief regarding asking the government for a bailout. I bet if he did write that letter, some politician would have taken up “Cuban’s cause for a bailout” and gotten him a billion or so dollars for his efforts.
The stuff about the Cubs – White Sox relationship in baseball circles is classic. If it’s true that the Cubs don’t enter certain agreements or make certain moves in order to keep the Cubs and White Sox on par, that is a total joke. Why would the Cubs not want to take advantage of it’s larger popularity, bigger fan base and broader exposure in order to make more money and put a better team on the field to win that elusive World Series Championship? It doesn’t make much sense to me, but wouldn’t surprise me if previous Cubs management had “tacit agreements” with Jerry Reinsdorf so that there would be parity between the Cubs and White Sox.
I also found it interesting that Cuban now thinks the $1 billion price tag for the Cubs is too much. Cuban originally bid over $1 billion for the Cubs, but failed to submit a final bid in December 2008 when the Cubs required the minimum bid to be at least $1 billion. Cuban claims that the declining world economy adversely affected the Cubs valuation as well, and that by paying that much, it might become too hard to continue to increase payroll each season if gate receipts decline – as they are expected to do so in 2009.
I guess we’ll have to wait and see on that one. Cubs fans love to drink the cool-aid, so I’m sure we’ll be hitting the Friendly Confines as much as we’ve done in the past. Maybe we pay ticket scalpers as much to get seats during the hot summer months, but I’m sure we’ll still pack the house each and every game.
I’d love to hear Jerry Reinsdorf’s take on all of this.
In any event, let’s just get the Cubs sale behind us. Once we get new ownership in place, hopefully we’ll get a better idea of how committed they are to winning and how much they are willing to spend to win. Then we can get a better idea of whether the Peavy trade will happen – whether it be during spring training or before the trading deadline in July. And then we can focus on play on the field – getting off to a fast start and keeping the momentum going through the hot summer months. Go Cubs!
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.