The Tribune Co is reportedly being sold to Chicago Billionaire Sam Zell. Zell recently sold Equity office property to Blackstone Group for $23 Billion cash. So to the winner usually come the spoils- not in this case. The Cubs are being sold at the end of the 2007 season. Let the billionaire freaks game begin!
Zell has acquired the trib, the LA times, wgn, the cubs and wrigley. Two months ago he stated that he had "absolutely no interest" in owning the cubs. Was this negotiating ploy or was he being honest. His logic at the time was that he didn't want to be the figure to burn in effigy if the cubs continue to lose.
Zell and or the Trib has decided to sell the Cubs at the end of the 2007 season. Zell is renowned for being a very tight spender- did this play into the sale idea? The irony is the Trib obviously was spending money that they knew wasn't theirs in order to entice a bidder who didn't even care. Remember that the cubs are being sold not wgn. The cubs situation will be entirely different without their parent station. There are several intangibles in the works. Will Wrigley go with the cubs?
A couple of years ago, having the Weiss Angel or anyone else buy the cubbies would have been a no brainer for joy. But now with vast spending and improvements, there is again great uncertainty in the air. The options for ownership are numerous- Cuban or any other billionaire wanting a feather in his cap. We'll have to wait and see how this one plays out, but there is immediate reason for joy- we currently own 1st place.
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