Malek, Tavares And Others Join To Bid On Buying Cubs Franchise
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Aaron Part Of Group
Bidding For Cubs |
Private-Equity Investor Fred Malek along with former Nationals President Tony Tavares, former U.S. Rep Jack Kemp, Baseball HOFer Hank Aaron and Medallion Financial Corp. President Andrew Murstein are "in a bid to buy" the Cubs franchise, according to Thomas Heath of the WASHINGTON POST. Malek's group, Sports Properties Acquisition, is using a "special-purpose acquisition company, or SPAC," to bid on the team. Malek, a former owner of the MLB Rangers, and Tavares are "well known and trusted among [MLB] insiders because of their experience running teams" (WASHINGTON POST, 8/11).
CUBAN'S CASE: CRAIN'S CHICAGO BUSINESS' Ann Saphir reports Mavericks Owner Mark Cuban is "trying to woo deep-pocketed Chicagoans to help bolster his bid for the Cubs." A source indicated that Cuban used "intermediaries to approach at least three local execs about partnering with him on his $1.3[B] bid," but the three "turned down the offer." Cuban is reportedly the "highest bidder for the Cubs but lacks local connections." If Cuban had Chicagoans as partners it would "strengthen his standing" with MLB (CRAIN'S CHICAGO BUSINESS, 8/11 issue).
WHITE SOX: In a sports section cover story, USA TODAY's Bob Nightengale reports White Sox and Bulls Chair Jerry Reinsdorf "doesn't plan to keep the White Sox forever and would prefer the team be sold when he no longer has the energy, instead turning the Bulls over to his sons." Reinsdorf: "Less headaches and a whole lot less media scrutiny" (USA TODAY, 8/11).
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