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.

Yankees GM Brian Cashman not considering demoting struggling Greg Bird

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Yankees first baseman Greg Bird gave his team tons of confidence to hand him the everyday job at first base to start the 2017 regular season, batting .451/.556/1.098 with eight home runs in 51 spring at-bats. But he’s followed that up by hitting .107/.254/.214 through the first month of the regular season.

GM Brian Cashman doesn’t have any intent to demote Bird back to Triple-A Scranton/Wilkes-Barre, MLB.com’s Bryan Hoch reports. Cashman said, “It’s not even an option for me in my mind right now, at all.”

Bird didn’t start Sunday’s game against the Orioles, a 7-4 loss in 11 innings. Lefty Wade Miley started for the Orioles, prompting manager Joe Girardi to put Chris Carter into the lineup at first base. If Bird isn’t able to figure things out, Carter might have an increased role on the team.

Chris Archer threw behind Jose Bautista

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Rays starter Chris Archer threw his first pitch to Blue Jays outfielder Jose Bautista behind the slugger’s back with one out in the first inning of Sunday afternoon’s game in Toronto. Bautista and Archer then had a staredown. Home plate umpire Jim Wolf issued warnings to both teams. Bautista ultimately flied out to right field and he appeared to have a quick word with Archer on his way back to the dugout.

Archer could have been exacting revenge — euphemistically known as “protecting his teammate” — because Jays reliever Joe Biagini hit Rays outfielder Steven Souza in the seventh inning of Saturday’s game. Souza was forced to leave the game and underwent an X-ray, which came back negative. He was held out of Sunday’s lineup. Biagini’s pitch did not appear to be intentional.

The Jays won Sunday’s contest 3-1 with no further incident. The two clubs meet again in Tampa for a three-game series starting on May 5, so we’ll see if Sunday was the last of the bad blood between them.