Friday, July 13, 2007

Cuban interested in buying the Cubs!!!

We have been hearing about that for a while. I'm excited and I hope Cubs fans are excited. The question is will it happen.

I hope it does because for far too long the Chicago Cubs has had some tired ownership from the Wrigley's thru the Tribune Company. Tribune Company has been in trouble and was recently sold with the Cubs having to part company with the Tribune Company. So this is what happened with Cuban from MSNBC...

Add Internet billionaire and Dallas Mavericks owner Mark Cuban to the list of potential Chicago Cubs buyers.

“I submitted an app,” Cuban said in an e-mail to The Associated Press.

Interested parties must submit an application to Major League Baseball to examine the team’s finances. Cuban told the Chicago Tribune he sent in the application last week, although he wasn’t sure of the date.

The Cubs are up for sale because its owner, the Tribune Co., is selling itself to Chicago real estate mogul Sam Zell for $8.2 billion. That deal was contingent on the media company selling its non-core assets, including one of the most fabled franchises in sports at the end of the season.

Tribune chairman and CEO Dennis FitzSimons has conceded it was difficult decision, but one that “really makes sense for our shareholders.”

Several potential deep-pocketed bidders are expected to vie for the Cubs and possibly for Wrigley Field, including Cuban and Chicago native Jerry Colangelo, the Phoenix Suns CEO who once ran the Arizona Diamondbacks.

The Tribune, citing unnamed sources, reported Thursday the family of Omaha, Neb.-based TD Ameritrade Holding Corp.’s founder Joe Ricketts also was considering a bid. Ricketts family representatives declined to comment on the report when contacted by The Associated Press on Thursday.

Forbes magazine recently valued the National League club at $592 million, fifth-highest in baseball, although experts speculate the bidding could start at $600 million.

Cubs manager Lou Piniella seemed impressed with Cuban’s credentials.

“I don’t know him, but the guy basically, he’s a winner. He’s a character. He has obviously got the resources,” Piniella said Friday.
Well hopefully Major League Baseball will see this as a win-win. Cuban can build a winner with the Mavericks he can do it with the Cubs. In addition I can admire his enthusiasm for his NBA team Dallas Mavericks.

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