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.
The Tigers will promoted Triple-A manager Lloyd McClendon to hitting coach for the 2017 season, according to a statement released by the team on Friday afternoon.
McClendon’s history with the Tigers is long and storied. After serving five seasons as the Pittsburgh Pirates’ hitting coach and manager, he got his start with Detroit in 2006 as a bullpen coach, then transitioned to hitting coach from 2007 through 2013. When the Tigers hired Brad Ausmus to replace former manager Jim Leyland, McClendon took the opportunity to break from the team and pursue another managerial position of his own with the Seattle Mariners, whom he guided to a 163-161 record between the 2014 and 2015 seasons.
Following his departure from Seattle during the 2015 offseason, McClendon took a spot as skipper of the Tigers’ Triple-A club, managing the Toledo Mud Hens to a 68-76 finish in 2016. His return to the big league stage is accompanied by the hiring of assistant hitting coach Leon Durham, who previously served as the long-tenured hitting coach for Triple-A Toledo.
On Monday we passed along a report that Major League Baseball and the MLBPA are negotiating over an international draft. That report — from ESPN’s Buster Olney — cited competitive balance and the well-being of international free agents as the reasons why they’re pushing for the draft.
We have long doubted those stated motivations and said so again in our post on Monday. But we’re just armchair skeptics when it comes to this. Ben Badler of Baseball America is an expert. Perhaps the foremost expert on international baseball, international signings and the like. Today he writes about a would-be international draft and he tears MLB, the MLBPA and their surrogates in the media to shreds with respect to their talking points.
Of course Badler is a nice guy so “tearing to shreds” is probably putting it too harshly. Maybe it’s better to say that he systematically dismantles the stated rationale for the international draft and makes plan what’s really going on: MLB is looking to save money and the players are looking to sell out non-union members to further their own bargaining position:
Major League Baseball has long wanted an international draft. The driving force behind implementing an international draft is for owners to control their labor costs by paying less money to international amateur players, allowing owners to keep more of that money . . . the players’ association doesn’t care about international amateur players as anything more than a bargaining chip. It’s nothing discriminatory against foreign players, it’s just that the union looks out for players on 40-man rosters. So international players, draft picks in the United States and minor leaguers who make less than $10,000 in annual salary get their rights sold out by the union, which in exchange can negotiate items like a higher major league minimum salary, adjustments to the Super 2 rules or modifying draft pick compensation attached to free agent signings.
Badler then walks through the process of how players are discovered, scouted and signed in Latin America and explains, quite convincingly, how MLB’s international draft and, indeed, its fundamental approach to amateurs in Latin America is lacking.
Read this. Then, every time a U.S.-based writer with MLB sources talks about the international draft, ask whether they know something Ben Badler doesn’t or, alternatively, whether they’re carrying water for either the league or the union.