Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Breaking "Chicago Cubs File for Chapter 11 Bankrupcy Protection" banner on MSNBC.com.

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread		 This topic is archived.
Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
 
sinkingfeeling Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-12-09 11:43 AM
Original message
Breaking "Chicago Cubs File for Chapter 11 Bankrupcy Protection" banner on MSNBC.com.
Edited on Mon Oct-12-09 11:45 AM by sinkingfeeling
http://nbcsports.msnbc.com/id/33279688/ns/sports-baseball/

WILMINGTON, Del. - The Chicago Cubs baseball team filed for Chapter 11 protection Monday, a step that will allow its corporate parent to sell the team in an $845 million deal.

It comes as part of the Tribune Co.’s plans to sell the team, Wrigley Field and related properties to the family of billionaire Joe Ricketts, the founder of TD Ameritrade.

Tribune bought the Cubs in 1981 for $20.5 million from candy maker Wm. Wrigley Jr. Co. It announced plans to sell the franchise in 2007, but got tripped up by the recession and the collapse of the credit markets.

Printer Friendly | Permalink |  | Top
spanone Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-12-09 11:44 AM
Response to Original message
1. will the senate be pushing for a baseball bailout???
Printer Friendly | Permalink |  | Top
 
Democrats_win Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-12-09 11:46 AM
Response to Original message
2. Joe Rickett did a heck of a job--give him a position in the FED!
This clown probably caused almost as much harm as the other dopes on the bush/Obama economic team.
Printer Friendly | Permalink |  | Top
 
madrchsod Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-12-09 11:52 AM
Response to Reply #2
4. you mean sam zell?
he`s the guy that bankrupted the tribune company. he still under investigation for "stealing" the tribunes workers funds to buy the tribune chain.

the rickett family was the last resort for the cubs...
Printer Friendly | Permalink |  | Top
 
MineralMan Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-12-09 11:50 AM
Response to Original message
3. It's the goat curse thing again.
Edited on Mon Oct-12-09 11:51 AM by MineralMan
Printer Friendly | Permalink |  | Top
 
Libertas1776 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-12-09 11:56 AM
Response to Reply #3
5. The Billy Goat Strikes Again!
Printer Friendly | Permalink |  | Top
 
MineralMan Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-12-09 11:59 AM
Response to Reply #5
6. The Cubs are toast!
Printer Friendly | Permalink |  | Top
 
Romulox Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-12-09 11:59 AM
Response to Original message
7. Wouldn't contraction be good for MLB? Too many weak teams... nt
Printer Friendly | Permalink |  | Top
 
gratuitous Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-12-09 12:15 PM
Response to Reply #7
12. The Royals are just one team
They can't bring down Major League Baseball all by themselves, but lord knows they're trying.
Printer Friendly | Permalink |  | Top
 
Romulox Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-12-09 12:20 PM
Response to Reply #12
16. Similar situation W/R/T the Phoenix Coyotes (NHL)
Every time I go to see my local team in Detroit, I must pay a subsidy for hockey in Phoenix, so that nobody there has to go to the games. :shrug:
Printer Friendly | Permalink |  | Top
 
Captain Hilts Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-12-09 12:18 PM
Response to Reply #7
14. Not enough good pitching to go around. nt
Printer Friendly | Permalink |  | Top
 
Iggo Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-12-09 12:18 PM
Response to Reply #7
15. It would be great for pitching.
There's guys drawing MLB salaries that are just...well they shouldn't be.
Printer Friendly | Permalink |  | Top
 
Romulox Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-12-09 12:21 PM
Response to Reply #15
17. Hard to argue that MLBers (as a whole) are the best athletes in the world
Certainly there are some incredible individual players though.
Printer Friendly | Permalink |  | Top
 
Davis_X_Machina Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-12-09 01:09 PM
Response to Reply #7
19. It's one of the most profitable franchises in the game...
...it's the parent company that's in trouble, the bankruptcy of one of its subsidiaries is a formality, antecedent to breaking up the parent firm and selling off the parts.

The Cubs are going nowehere.
Printer Friendly | Permalink |  | Top
 
Gidney N Cloyd Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-12-09 12:01 PM
Response to Original message
8. They could have sold to Mark Cuban 2 years ago but he's on MLB double-secret probation.
Printer Friendly | Permalink |  | Top
 
maxpower Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-12-09 12:03 PM
Response to Original message
9. I, for one, am looking forward to new ownership
But than again, as my signature line states, I am a Cubs fan.
Printer Friendly | Permalink |  | Top
 
JVS Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-12-09 12:03 PM
Response to Original message
10. Go SOX!
Printer Friendly | Permalink |  | Top
 
bullwinkle428 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-12-09 12:11 PM
Response to Original message
11. It seems like for years, that team practically had a license to print money!
The Tribune Co. had no motivation to put anything beyond a mediocre product on the field as the fans supported them in almost cult-like fashion year after year. They rarely if ever shelled out the money for the high-priced players as they knew that a team of scrubs would pack Wrigley Field day in and day out...
Printer Friendly | Permalink |  | Top
 
Iggo Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-12-09 12:17 PM
Response to Original message
13. They've got a team worth 845 mil, and they're bankrupt.
How does that work?
Printer Friendly | Permalink |  | Top
 
dembotoz Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-12-09 12:42 PM
Response to Reply #13
18. just dancing with the paperwork
the cubs are fine, they will be around for the next gazillion years and their stadium will remain an outdated dump--ok historic outdated dump. Their fans will be just as rude as ever. And the team will prove the while some teams can buy a championship-other teams can't no matter how much they overpend.
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Thu May 02nd 2024, 03:36 AM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC