Monday, May 05, 2008

At Deadline

Crain's Chicago Business has an update on the tiemline for the sale of the Cubs. It seems Sam Zell, knowing he has a huge debt payment to make before the year is out, wants to close on a sale in August:

Sam Zell has set a fresh deadline of late August to sell the Chicago Cubs — a time frame that could strengthen his hand if the North Siders emerge as late-season playoff contenders.

The debt payment is only part of the reason to speed up the sale. Another reason comes from a potential buyer whose reasoning echos a thought espoused here a ways back:

One prospective bidder, who declines to be named because of Major League Baseball's sensitivity on the bidding process, says he would rather buy a team on the verge of a championship than a newly minted World Series victor, which he likens to buying at the peak. "If they've won the World Series," he says, "whoever comes in has got nowhere to go but down."

Get it over with already, Sam. Mark Cuban is clearly ready to buy. The William Wrigley Jr. is now both liquid and has plenty of free time to run a ball club. John Canning, despite some of the problems over at Madison Dearborn, could still be a player.

Get it over with already.

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