Cubs will be sold at end of this season

JoseA · 04-04-2007, 02:23 PM

Quote:

CINCINNATI -- The Chicago Cubs opened the 2007 season Monday with a new manager, a new center fielder and the prospect of a new owner in 2008. The message to the team is that it's business as usual.

The Tribune Co., which includes the Chicago Tribune, Los Angeles Times, TV stations and the Cubs, has accepted a buyout offer from real estate investor Sam Zell in a deal valued at about $8.2 billion.

The Tribune Co. also said it plans to sell the Cubs baseball team and its 25 percent stake in local sports cable channel Comcast SportsNet Chicago at the end of the season. The company did not say whether it intended to sell Wrigley Field, which has been the Cubs' home since 1916.

Article

Wow, kind of suprised by this. Over the past few years, it has been rumored the Cubs were going to be sold. I just thought it actually wouldn't happen!

Hopefully the new owner, Sam Zell will keep investing money in the team. I thought that we put out a decent product with Tribune over the past few years. Lets reverse the curse now!

JoseA · 04-04-2007, 03:52 PM

More on the situation:

Quote:

CHICAGO -- Commissioner Allan H. "Bud" Selig had planned to be at U.S. Cellular Field on Monday afternoon for the 2007 season opener between the White Sox and Indians. But with the morning news of Sam Zell's purchase of the Tribune Company, Selig also addressed the impending sale of the Chicago Cubs during a 15-minute session with the media.
The sale to Zell would take the Tribune Co. private, but there was an accompanying announcement that the Tribune intended to sell the Cubs and its 25 percent interest in Comcast SportsNet Chicago. According to the Tribune Co., the sale will be complete in the fourth quarter of this year.

Selig expects a new owner to be in place with the Cubs (other than Zell, who is a limited partner with the White Sox) by the start of the 2008 season.

"I always say for new ownership, it's best to get it done in the offseason and certainly by the time Opening Day comes, it should be done," Selig added. "As I think about it, that should work."

Article

Well, it looks like the new ownership plans to come in by next season, which is a good sign. I wonder if this will have an affect on some contact negociations, like Zambrano. Hopefully we will continue building a strong team, and we don't fall back like many franchises do when a new ownership comes....