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.
Just saw this from last night’s Tigers-Rangers game. It was pretty wild.
Rougned Odor walked in the seventh inning. He broke for second on a steal and was safe due to the throw going wild, allowing him to reach third base. The Tigers called on reliever Daniel Stumpf and he was effective in retiring the next two batters, leaving Odor on third with two out.
Stumpf, a lefty, was paying no attention whatsoever to Odor, so Odor just took off for home, attempting a straight steal. Stumpf was so surprised that he tried to throw home to nail Odor, and in so doing, he balked. That technically means that Odor scored on the balk, but I think it’s safe to say he would’ve scored on the strait steal regardless. Watch:
He definitely gets points for style.
Yankees closer Aroldis Chapman looked shaky again last night, coming in to the game with a three-run lead before allowing a two-run homer to the Mets’ Amed Rosario. He would nail down the save eventually, giving Sonny Gray his first win as a Yankee, but Chapman’s struggles were the talk of the game afterward.
It was the third appearance in a row in which Chapman has given up at least one run, allowing five runs on three hits — two of them homers — and walking four in his last three and a third innings pitched. He’s also hit a batter. That’s just the most acute portion of a long slide, however. He posted a 0.79 ERA in his first 12 appearances this year, before getting shelled twice and then going on the disabled list with shoulder inflammation, missing over a month. Since returning he’s allowed 12 runs — ten earned — in 23 appearances, breaking out to a 4.09 ERA. He’s also walked ten batters in that time. At present, his strikeout rate is the worst he’s featured since 2010. His walk rate is up and he’s allowing more hits per nine innings than he ever has.
It’s possible that he’s still suffering from shoulder problems. Whether or not that’s an issue, he looks to have a new health concern as he appeared to tweak his hamstring on the game’s final play last night when he ran over to cover first base. Chapman told reporters after the game that “it’s nothing to worry about,” and Joe Girardi said that Chapman would not undergo an MRI or anything, but he was clearly grimacing as he came off the mound and it’s something worth watching.
Also worth watching: Dellin Betances and David Robertson, Chapman’s setup men who have each shined as Yankees closers in the past and who may very soon find themselves closing once again if Chapman can’t figure it out. And Chapman seems to know it. He was asked if he still deserves to be the closer after the game. His answer:
“My job is to be ready to pitch everyday. As far as where I pitch, that’s not up to me. If at some point they need to remove me from the closer’s position, I’m always going to be ready to pitch.”
That’s a team-first answer, and for that Chapman should be lauded. But it’s also one that suggests Chapman himself knows he’s going to be out of a closer’s job soon if he doesn’t turn things around.