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.

Clayton Kershaw might return to the Dodgers’ rotation next week

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Dodgers southpaw Clayton Kershaw is nearing his return to the mound, according to club manager Dave Roberts. Both Kershaw (left biceps tendinitis) and fellow lefty Rich Hill (left middle finger blister) are scheduled to toss simulated games on Saturday; depending on the outcome, Roberts says Kershaw could forgo a minor league assignment and slot back into the rotation by Thursday.

Kershaw, 30, was diagnosed with biceps tendinitis as the team closed out their Mexico Series at the start of the month. He has not made a start in several weeks, but was finally able to resume throwing on Sunday and managed to get through two successful bullpen sessions. Though Dodgers’ ace hasn’t been completely injury-free over his 11-year career in the majors, this is the first significant issue he’s had with his pitching arm so far. The team is expected to take every precaution with the lefty, and will likely limit him to just four innings during Saturday’s simulated game.

Prior to his injury, Kershaw was working on another dominant run with the club, sporting a 2.86 ERA, 2.0 BB/9 and 9.8 SO/9 through his first 44 innings of the season. While Kershaw, Hill and left-handed starter Hyun-Jin Ryu served their respective terms on the disabled list this month, the Dodgers utilized a combination of relievers Ross Stripling and Brock Stewart, both of whom impressed during their limited time in the rotation.