Tribune Co.'s new CEO Sam Zell said the Cubs will be sold by Opening
Day, and that he may sell naming rights to Wrigley Field because such
rights could be "extraordinarily valuable."
Zell, who took over the company on Thursday, completing an $8.2
billion deal, confirmed the team will be sold during an introductory
news conference. The Tribune has owned the Cubs since 1981, and Zell is
selling the team and some related assets to help pay off the company's
$13 billion debt.
Last week, Tribune asked the state of Illinois to explore the
possibility of acquiring Wrigley Field through the Illinois Sports
Facilities Authority, which is the government-backed sports agency.
The sports body was created by state lawmakers in 1987 for the
purpose of building a new Comiskey Park, now U.S. Cellular Field, which
is home to the Chicago White Sox. On Thursday, Zell acknowledged those
discussions.
"We believe that transaction, when completely vetted, is very
beneficial for the city of Chicago, is very beneficial for the Cubs,
and for the future of a Major League Baseball team in this city," Zell
said. "[Illinois Gov. Rod Blagojevich] originally approached us on
this. We studied it; we thought it was an interesting concept. We
started meeting with [Chicago Mayor Richard Daley's] people on it.
We'll see where that goes.
"Up until now, we've delayed -- although they're ready --
sending out the books on the Cubs until we had a better understanding
of where this stands," Zell said. "I think the goal would be to
complete the transaction before the beginning of the baseball season."
If Zell is able to sell the 'naming rights' of Wrigley Field, we very well could be calling it "Wrigley Field presented by Pepsi" or something ridiculous like that. I'm all for making money, but is that something that really needs to be done? I doubt that the state of Illinois will be able to acquire Wrigley to keep that from happening because it would keep Zell from making as much money as possible, and in this world that seems like a no-no. But, stranger things have happened.
2008 Cubs Preview
how many parks are left with the original names:
Busch II
Fenway
Shea
Yankee Stadium
RFK and their new one is called Nationals Park
I guess Camden Yards is ok even though it's new.
This news is even more disappointing then if they don't put Fukkadome on the back of the jersey.
Harry Caray weeps in his beer in heaven.
It's my understanding that Fukudome will be on the back of the jersey. I put a link the comments of the post yesterday that led me to believe that. Check it out.
I think I could handle the name 'change' if it was a product/company that had been around Wrigley for years. I don't want it to be 'Wrigley Field presented by BP Oil"
I'll check the link.
How many companies are there that would make it less sucky. Abe Froman - The Sausage King of Chicago's Wrigley Field.
I bet if Cuban bought them he'd be cool and keep it wrigley field.
I'm sure you're right and whoever buys the rights will leave the Wrigley Field but add their crappy company name.
Actually, Cuban has talked about 'selling out' and putting ads on everything he can get his hands on, including the jerseys. Whether or not he would do it though......he has said he'd be open to selling the naming rights of Wrigley. There's a lot of money in 'them hills'
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