05-31-2009, 03:15 AM
More keeps coming out on this each day, and with all the newly available info shedding some light on the situation, it's clear that the Ricketts are doing a much better job of handling PR than Zell's lackies who are trying to make the family look like sudden deadbeats. Shocking, eh?
Interesting tidbit from the Sunday Trib:
http://www.chicagotribune.com/business/chi...0,3534403.story
<!--quoteo-->QUOTE <!--quotec-->But Tribune Co. also wanted to protect WGN. So it continues to broadcast about 70 games a year on its television station and all 162 games on the radio. The Cubs and WGN have historically split advertising revenue 50-50, three former Tribune executives said. The Cubs' share was probably less than the team might have gotten from an independent station.
Tribune doesn't release those numbers, but in 2001, an MLB report to Congress showed that the team's broadcast revenues were significantly below what other big-market teams pulled in, including the Chicago White Sox, the rival across town. The document said the Cubs received $23.5 million in revenue from local television, radio and cable contracts, while the White Sox commanded $30 million.<!--QuoteEnd--><!--QuoteEEnd-->
Seems to me that eventually Zell will cave in but not after a little kicking and screaming, because no other interested party is going come close to meeting his demands. The Ricketts have both the cash and the financing lined up to close this thing. Zell's just trying to be a hardass and cover up the fact that the Tribco has been running an accounting shell game for years and has overstated the value of the team. No other party will want to swoop in and replace the Ricketts, as Zell wants us to believe. Not a chance. During more prosperous times, maybe, but not in today's environment.
Interesting tidbit from the Sunday Trib:
http://www.chicagotribune.com/business/chi...0,3534403.story
<!--quoteo-->QUOTE <!--quotec-->But Tribune Co. also wanted to protect WGN. So it continues to broadcast about 70 games a year on its television station and all 162 games on the radio. The Cubs and WGN have historically split advertising revenue 50-50, three former Tribune executives said. The Cubs' share was probably less than the team might have gotten from an independent station.
Tribune doesn't release those numbers, but in 2001, an MLB report to Congress showed that the team's broadcast revenues were significantly below what other big-market teams pulled in, including the Chicago White Sox, the rival across town. The document said the Cubs received $23.5 million in revenue from local television, radio and cable contracts, while the White Sox commanded $30 million.<!--QuoteEnd--><!--QuoteEEnd-->
Seems to me that eventually Zell will cave in but not after a little kicking and screaming, because no other interested party is going come close to meeting his demands. The Ricketts have both the cash and the financing lined up to close this thing. Zell's just trying to be a hardass and cover up the fact that the Tribco has been running an accounting shell game for years and has overstated the value of the team. No other party will want to swoop in and replace the Ricketts, as Zell wants us to believe. Not a chance. During more prosperous times, maybe, but not in today's environment.