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Report: Cubs considering selling minority shares of team to fund Wrigley renovation

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With the Cubs looking for ways to finance the Wrigley Field renovation effort and projects around the stadium, Patrick Mooney of CSNChicago.com reports that ownership is considering selling minority shares of the team.

No final decisions have been made yet, but the Ricketts family will not be selling off controlling interest in the team. It’s akin to what the Mets did a couple of years ago after the settlement in the Bernie Madoff scandal. Just some outside cash now to get the projects off the ground.

An industry source predicted the Cubs would be working from the latest Forbes valuation – $1.2 billion – that put the franchise behind only the New York Yankees, Los Angeles Dodgers and Boston Red Sox at a time when commissioner Bud Selig estimated the sport’s revenues could top $9 billion this year.

That’s a 42-percent jump from the $845 million deal that finally closed in October 2009 and included a piece of Comcast SportsNet Chicago. The game’s rising tide hasn’t lifted the Cubs out of fifth place since the Ricketts family entered into that leveraged partnership with Zell’s Tribune Co., which demanded any buyer take on a debt-heavy structure that would create a shelter from huge capital-gains taxes.

The Cubs source said a sale wouldn’t impact the futures of team presidents Crane Kenney and Theo Epstein, who both have long-term contracts and run business and baseball operations without much interference from a hands-off ownership group.

MLB would have to approve any new owners. The Wrigleyville project is expected to cost around $500 million and will consist of renovations of the stadium itself and outside the stadium, including a hotel. In addition to trying to raise the money to fund it privately, Cubs ownership have run into some other issues along the way, including their contract with rooftop owners which runs through 2023. Plans for a jumbotron will block some of the views into the ballpark.

Braves sign former football player Sanders Commings

GLENDALE, AZ - AUGUST 15:  Cornerback Sanders Commings #26 of the Kansas City Chiefs on the sidelines during the pre-season NFL game against the Arizona Cardinals at the University of Phoenix Stadium on August 15, 2015 in Glendale, Arizona.  (Photo by Christian Petersen/Getty Images)
Christian Petersen/Getty Images
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The Braves have signed former football player and current outfielder Sanders Commings, an Augusta, Georgia native, to a minor league contract, Ken Rosenthal of FOX Sports reports.

Commings, 26, was a defensive back who played for the University of Georgia before being selected by the Chiefs in the fifth round of the 2013 draft. He appeared in two games in the 2013 season.

Commings also played baseball for Westside High School and was selected by the Diamondbacks in the 37th round of the 2008 draft. He chose to attend the University of Georgia instead. When football didn’t pan out, Commings started training with Jerry Hairston, Jr. Hairston said he was “blown away” when he saw Commings hit for the first time.

Obviously, Commings’ path to success as a professional baseball player will be long, but it’s a no-risk flier for the Braves. The club has past experience with football players, including Deion Sanders and Brian Jordan.

The next task for the Braves will be to acquire Ryan Goins from the Blue Jays. That way, players will look at the lineup card each day to see if it’s Commings or Goins.

Justin Verlander: “I’d like to see the AL and NL have the same rules… I vote NL rules.”

SEATTLE, WA - AUGUST 10:  Starting pitcher Justin Verlander #35 of the Detroit Tigers pitches against the Seattle Mariners in the first inning at Safeco Field on August 10, 2016 in Seattle, Washington.  (Photo by Otto Greule Jr/Getty Images)
Otto Greule Jr/Getty Images
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On Thursday afternoon, Rays pitcher Chris Archer asked his Twitter followers, “Lots swirling around what needs to be changed about the game of baseball. What do y’all want to see changed, if anything, & why?”

Tigers ace Justin Verlander responded:

To that, Archer said:

For what it’s worth, Verlander hasn’t been much of a hitter. In 47 career plate appearances, he has three singles and no extra-base hits. And if the AL did get rid of the DH rule, the Tigers would have nowhere to put Victor Martinez. Verlander, though, would have an easier time pitching to opposing pitchers rather than their DH’s.