SportsBusiness Daily — Sports Business Resources — your sports business news and information source. Learn More

Thursday
June 26, 2008
Print This Issue

Tribune Delays Cubs Bid Deadline Amid Wrigley Revenue Questions

Tribune Co. Pushes Back Deadline For
Cubs, Wrigley Bids Amid Revenue Questions

Tribune Co. has pushed back from July 9 to July 31 the "deadline for interested buyers to bid on the Cubs, Wrigley Field or both amid questions about the opportunity for continued revenue growth" at the ballpark, according to Fran Spielman of the CHICAGO SUN-TIMES. Tribune Co. delayed the deadline in order to "give the Cubs a chance to respond to questions about optimistic revenue assumptions in the 300-page book distributed to rival bidders." The bid books "reportedly assume the gravy train will continue and spell out how it can be done -- with or without a $400[M] Wrigley renovation that could add luxury skyboxes and up to 1,000 additional seats." The books also "assume that the growth will be enough to support an annual lease payment of $25[M] if the stadium and the team are sold to separate groups." But Spielman notes several bidders "are not so sure." Sources yesterday said Tribune Co. Chair Sam Zell is "completely agnostic" about selling the Cubs and Wrigley as a package or separately (CHICAGO SUN-TIMES, 6/26).

Print This Article

Get A Free Trial To SportsBusiness Daily

Reader Comments

To post comments on this article, log in or register for a free trial.

Related Stories By Company

Related Stories By Sport

Ricketts Details Wrigley Field Plans
November 3, 2009 : SportsBusiness Daily

Ricketts Family Details Plans For Cubs
November 2, 2009 : SportsBusiness Daily

Ricketts Family Officially Owners Of Cubs
October 28, 2009 : SportsBusiness Daily

MLB Owners Approve Cubs Sale To Ricketts
October 7, 2009 : SportsBusiness Daily

Cubs Deal Includes $35M Reserve Fund
August 27, 2009 : SportsBusiness Daily

Marketing Execs Rank World Series Players
November 6, 2009 : SportsBusiness Daily

Jamie McCourt Not Reinstated As CEO
November 6, 2009 : SportsBusiness Daily

World Series Ratings Up 39% Over '08
November 6, 2009 : SportsBusiness Daily

Stores Lacking Matsui World Series Gear
November 6, 2009 : SportsBusiness Daily

Fox' World Series Clincher Up 40%
November 5, 2009 : SportsBusiness Daily

ALSO IN THIS SECTION

Go To Finance

A Publication of Street & Smith's Sports Group.
Use of and/or registration on any portion of this site constitutes acceptance of our User Agreement (REVISED 2009-06-23) and Privacy Policy (REVISED 2009-06-23).

© 2009 Street & Smith's Sports Group and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Street & Smith's Sports Group.