A playoff-bound Cubs team "infused with young talent has translated into sellout crowds at Wrigley Field, and the heightened popularity has resulted in higher merchandise sales and the potential for a staggering television contract in the upcoming years," according to Mark Gonzales of the CHICAGO TRIBUNE. These resources "eventually could elevate the Cubs to the same financial landscape as the Yankees and Red Sox, although Chairman Tom Ricketts isn't sure how much they can spend this winter to fortify the young nucleus." Ricketts yesterday said Cubs President of Baseball Operations Theo Epstein "will have some resources this offseason." Ricketts "downplayed the assumption that an increased payroll will lead to more wins." He said, "The fact is the correlation between the dollars you spend and the wins you get is going down every year. In order to have sustainable success, you can't count on money. You have to count on young talent." Meanwhile, Gonzales notes Epstein "could be in line for a substantial raise." Ricketts said, "Next year is the last year of Theo's contract. We'll sit down at some point and talk about what that means. Right now we're just focused on the postseason. Theo and I have a great relationship." Additionally, last night's crowd of 40,552 brought the team's '15 home attendance total to 2,959,812 -- an "increase of 307,699 from last season" (CHICAGO TRIBUNE, 9/29). In Chicago, Gordon Wittenmyer notes internal estimates "count the average ticket sold as worth more than $75 in revenue -- which would put the revenue value of that increase" at more than $23M. Wittenmyer: "Does all that go into the baseball coffers? Is there even more through video board revenue? How would a deep playoff run impact next year’s budgets?" For now, more than $60M "is committed to players under contract for next year." The Cubs "operated on a de facto $120 million budget this year after adding carried-over money saved from last year." Wittenmyer: "How big can they go this winter to build on one of the biggest success stories in the majors this year?" (CHICAGO SUN-TIMES, 9/29).
TV TIME: In Chicago, Bruce Miles notes many teams "have secured lucrative TV deals in recent years," and the Cubs "will be looking at cashing in at the end of the decade." Ricketts said that the on-field product "should make for attractive viewing, translating to lots of dollars." He added, "Obviously, the television deal is up in 2019. That's going to be a very significant part of the financials going forward. We have to make sure we do it right. We've got to be very thoughtful about how that comes together. Things are changing. The media landscape is changing. What we do know is content still has value. We have a lot of good content. Obviously with a team that's playing better, it's even more valuable content" (Chicago DAILY HERALD, 9/29). The SUN-TIMES' Wittenmyer notes Epstein "has called the anticipated new TV deal a 'game-changer' for the organization." Teams such as the Dodgers, Phillies, Rangers, Padres and Astros "have all signed regional TV packages" worth $800M or more in recent years -- though some "believe that bubble has begun to deflate." Ricketts said that it is "not certain whether any Cubs deal would include multiple broadcast platforms" (CHICAGO SUN-TIMES, 9/29).
ROCK N' ROLL AIN'T NOISE POLLUTION: Ricketts confirmed the Cubs will continue hosting concerts at Wrigley Field in the future, saying the team will be "extra careful to make sure there’s nothing that ever affects the field of play." Cubs manager Joe Maddon and SS Starlin Castro earlier this month both indicated a recent AC/DC concert at the ballpark damaged the field. Ricketts said, "I was talking to Joe this weekend and I am like, ‘Hey man, don’t be down on my favorite band from high school, man. That’s not cool.’ … He was just kind of joking around. In fact, when we do the concerts, we keep everyone off the infield and so it shouldn’t affect the play at any point. The concerts are revenue, and that revenue does go back to the organization. That money gets spent ultimately on players. They are good for the organization and on top of that, they are just magical. Concerts really are special and performers love it, obviously. All the people love it and so it’s just a great way to show the park, and a great way to give people a good time" (“The Mully & Hanley Show,” WSCR-AM, 9/28).
