Cubs Sale Is Done

[Ace]

Denny Neagle.

[Ace]

<!--quoteo(post=61063:date=Sep 1 2009, 08:15 PM:name=Kid)-->QUOTE (Kid @ Sep 1 2009, 08:15 PM) <{POST_SNAPBACK}><!--quotec-->Schedule A, Section 7 of the Uniform Player's Contract under the CBA:

<!--quoteo--><div class='quotetop'>QUOTE <!--quotec-->TERMINATION

By Player

7.(a) The Player may terminate this contract, upon written notice to
the Club, if the Club shall default in the payments to the Player provided
for in paragraph 2 hereof or shall fail to perform any other obligation
agreed to be performed by the Club hereunder and if the Club shall
fail to remedy such default within ten (10) days after the receipt by the
Club of written notice of such default. The Player may also terminate
this contract as provided in subparagraph (d)(4) of this paragraph 7.
(See Article XV(I) of the Basic Agreement.)

By Club

7.([img]style_emoticons/<#EMO_DIR#>/cool.gif[/img] The Club may terminate this contract upon written notice to the
Player (but only after requesting and obtaining waivers of this contract
from all other Major League Clubs) if the Player shall at any time:

(1) fail, refuse or neglect to conform his personal conduct to the
standards of good citizenship and good sportsmanship or to keep
himself in first-class physical condition or to obey the Club's training
rules; or

(2) fail, in the opinion of the Club's management, to exhibit sufficient
skill or competitive ability to qualify or continue as a member
of the Club's team; or

(3) fail, refuse or neglect to render his services hereunder or in
any other manner materially breach this contract.

7. If this contract is terminated by the Club, the Player shall be entitled
to termination pay under the circumstances and in the amounts set
forth in Article IX of the Basic Agreement. In addition, the Player shall
be entitled to receive an amount equal to the reasonable traveling
expenses of the Player, including first-class jet air fare and meals en
route, to his home city.<!--QuoteEnd--><!--QuoteEEnd-->

Article IX of the CBA only allows termination pay for a termination under section 7([img]style_emoticons/<#EMO_DIR#>/cool.gif[/img](2):
<!--quoteo-->QUOTE <!--quotec-->A Player whose Contract is terminated by a Club during the championship
season under paragraph 7([img]style_emoticons/<#EMO_DIR#>/cool.gif[/img](2) of the Uniform Player's Contract
for failure to exhibit sufficient skill or competitive ability shall be
entitled to receive termination pay from the Club in an amount equal
to the unpaid balance of the full salary stipulated in paragraph 2 of his
Contract for that season.<!--QuoteEnd--><!--QuoteEEnd-->

That being said, I think it's hard to fit lying about age under the permissible bases for termination under the Uniform Players' Contract.
<!--QuoteEnd--></div><!--QuoteEEnd-->

I think you could fit it under (1) if you had to.

Unrelatedly - that Article IX snippet reads like you can terminate a guy for sucking and only be on the hook for the remainder of his salary in that particular season. Obviously that's not the case (or you'd see a whole lot of September terminations), but it kind of reads that way.

[savant]

Yes, I thought his name started with an H for some reason. Wasn't he getting a Hummer from a professional?

[Ace]

<!--quoteo(post=61067:date=Sep 1 2009, 08:19 PM:name=savant)-->QUOTE (savant @ Sep 1 2009, 08:19 PM) <{POST_SNAPBACK}><!--quotec-->Yes, I thought his name started with an H for some reason. Wasn't he getting a Hummer from a professional?<!--QuoteEnd--><!--QuoteEEnd-->

Yup, that's the one. Lost a crap ton of money, IIRC, and the Rockies were only too thrilled to void his contract. Maybe it was a setup!

Do Alfonso fancy the street corners at all?

[Kid]

<!--quoteo(post=61066:date=Sep 1 2009, 08:18 PM:name=Ace)-->QUOTE (Ace @ Sep 1 2009, 08:18 PM) <{POST_SNAPBACK}><!--quotec--><!--quoteo(post=61063:date=Sep 1 2009, 08:15 PM:name=Kid)--><div class='quotetop'>QUOTE (Kid @ Sep 1 2009, 08:15 PM) <{POST_SNAPBACK}><!--quotec-->Schedule A, Section 7 of the Uniform Player's Contract under the CBA:

<!--quoteo--><div class='quotetop'>QUOTE <!--quotec-->TERMINATION

By Player

7.(a) The Player may terminate this contract, upon written notice to
the Club, if the Club shall default in the payments to the Player provided
for in paragraph 2 hereof or shall fail to perform any other obligation
agreed to be performed by the Club hereunder and if the Club shall
fail to remedy such default within ten (10) days after the receipt by the
Club of written notice of such default. The Player may also terminate
this contract as provided in subparagraph (d)(4) of this paragraph 7.
(See Article XV(I) of the Basic Agreement.)

By Club

7.([img]style_emoticons/<#EMO_DIR#>/cool.gif[/img] The Club may terminate this contract upon written notice to the
Player (but only after requesting and obtaining waivers of this contract
from all other Major League Clubs) if the Player shall at any time:

(1) fail, refuse or neglect to conform his personal conduct to the
standards of good citizenship and good sportsmanship or to keep
himself in first-class physical condition or to obey the Club's training
rules; or

(2) fail, in the opinion of the Club's management, to exhibit sufficient
skill or competitive ability to qualify or continue as a member
of the Club's team; or

(3) fail, refuse or neglect to render his services hereunder or in
any other manner materially breach this contract.

7. If this contract is terminated by the Club, the Player shall be entitled
to termination pay under the circumstances and in the amounts set
forth in Article IX of the Basic Agreement. In addition, the Player shall
be entitled to receive an amount equal to the reasonable traveling
expenses of the Player, including first-class jet air fare and meals en
route, to his home city.<!--QuoteEnd--><!--QuoteEEnd-->

Article IX of the CBA only allows termination pay for a termination under section 7([img]style_emoticons/<#EMO_DIR#>/cool.gif[/img](2):
<!--quoteo-->QUOTE <!--quotec-->A Player whose Contract is terminated by a Club during the championship
season under paragraph 7([img]style_emoticons/<#EMO_DIR#>/cool.gif[/img](2) of the Uniform Player's Contract
for failure to exhibit sufficient skill or competitive ability shall be
entitled to receive termination pay from the Club in an amount equal
to the unpaid balance of the full salary stipulated in paragraph 2 of his
Contract for that season.<!--QuoteEnd--><!--QuoteEEnd-->

That being said, I think it's hard to fit lying about age under the permissible bases for termination under the Uniform Players' Contract.
<!--QuoteEnd--></div><!--QuoteEEnd-->

I think you could fit it under (1) if you had to.

Unrelatedly - that Article IX snippet reads like you can terminate a guy for sucking and only be on the hook for the remainder of his salary in that particular season. Obviously that's not the case (or you'd see a whole lot of September terminations), but it kind of reads that way.
<!--QuoteEnd--></div><!--QuoteEEnd-->
Let me rephrase. I think you'd have a hard time fitting it under any of the 3 and have an arbitrator uphold that decision.

[Ace]

<!--quoteo(post=61069:date=Sep 1 2009, 08:21 PM:name=Kid)-->QUOTE (Kid @ Sep 1 2009, 08:21 PM) <{POST_SNAPBACK}><!--quotec--><!--quoteo(post=61066:date=Sep 1 2009, 08:18 PM:name=Ace)--><div class='quotetop'>QUOTE (Ace @ Sep 1 2009, 08:18 PM) <{POST_SNAPBACK}><!--quotec--><!--quoteo(post=61063:date=Sep 1 2009, 08:15 PM:name=Kid)--><div class='quotetop'>QUOTE (Kid @ Sep 1 2009, 08:15 PM) <{POST_SNAPBACK}><!--quotec-->Schedule A, Section 7 of the Uniform Player's Contract under the CBA:

<!--quoteo--><div class='quotetop'>QUOTE <!--quotec-->TERMINATION

By Player

7.(a) The Player may terminate this contract, upon written notice to
the Club, if the Club shall default in the payments to the Player provided
for in paragraph 2 hereof or shall fail to perform any other obligation
agreed to be performed by the Club hereunder and if the Club shall
fail to remedy such default within ten (10) days after the receipt by the
Club of written notice of such default. The Player may also terminate
this contract as provided in subparagraph (d)(4) of this paragraph 7.
(See Article XV(I) of the Basic Agreement.)

By Club

7.( [img]style_emoticons/<#EMO_DIR#>/cool.gif[/img] The Club may terminate this contract upon written notice to the
Player (but only after requesting and obtaining waivers of this contract
from all other Major League Clubs) if the Player shall at any time:

(1) fail, refuse or neglect to conform his personal conduct to the
standards of good citizenship and good sportsmanship or to keep
himself in first-class physical condition or to obey the Club's training
rules; or

(2) fail, in the opinion of the Club's management, to exhibit sufficient
skill or competitive ability to qualify or continue as a member
of the Club's team; or

(3) fail, refuse or neglect to render his services hereunder or in
any other manner materially breach this contract.

7. If this contract is terminated by the Club, the Player shall be entitled
to termination pay under the circumstances and in the amounts set
forth in Article IX of the Basic Agreement. In addition, the Player shall
be entitled to receive an amount equal to the reasonable traveling
expenses of the Player, including first-class jet air fare and meals en
route, to his home city.<!--QuoteEnd--><!--QuoteEEnd-->

Article IX of the CBA only allows termination pay for a termination under section 7( [img]style_emoticons/<#EMO_DIR#>/cool.gif[/img] (2):
<!--quoteo-->QUOTE <!--quotec-->A Player whose Contract is terminated by a Club during the championship
season under paragraph 7( [img]style_emoticons/<#EMO_DIR#>/cool.gif[/img] (2) of the Uniform Player's Contract
for failure to exhibit sufficient skill or competitive ability shall be
entitled to receive termination pay from the Club in an amount equal
to the unpaid balance of the full salary stipulated in paragraph 2 of his
Contract for that season.<!--QuoteEnd--><!--QuoteEEnd-->

That being said, I think it's hard to fit lying about age under the permissible bases for termination under the Uniform Players' Contract.
<!--QuoteEnd--></div><!--QuoteEEnd-->

I think you could fit it under (1) if you had to.

Unrelatedly - that Article IX snippet reads like you can terminate a guy for sucking and only be on the hook for the remainder of his salary in that particular season. Obviously that's not the case (or you'd see a whole lot of September terminations), but it kind of reads that way.
<!--QuoteEnd--></div><!--QuoteEEnd-->
Let me rephrase. I think you'd have a hard time fitting it under any of the 3 and have an arbitrator uphold that decision.
<!--QuoteEnd--></div><!--QuoteEEnd-->

Interestingly, the fact that this would be the second time Soriano would have lied about his age (this is all in the hypothetical, of course) would probably color an arbitrator's decision if under number 1. Poor fit, but interesting nevertheless.

[rok]

<!--quoteo-->QUOTE <!--quotec-->Sept. 08, 2009

(Crain’s) – Federal antitrust regulators have approved Tribune Co.’s $800 million sale of the Chicago Cubs to the Ricketts family.

The approval appears on a Sept. 4 Federal Trade Commission list of pending mergers and acquisitions that have been cleared by antitrust officials. Analysts had not expected any antitrust challenge to the deal.

The clearance is another step in Tribune’s two-and-a-half-year quest to sell the ball club. It still needs approval from a bankruptcy judge and Major League Baseball owners. Both approvals are expected this fall.<!--QuoteEnd--><!--QuoteEEnd-->

[Andy]

<!--quoteo(post=62270:date=Sep 9 2009, 09:11 AM:name=rok)-->QUOTE (rok @ Sep 9 2009, 09:11 AM) <{POST_SNAPBACK}><!--quotec--><!--quoteo--><div class='quotetop'>QUOTE <!--quotec-->Sept. 08, 2009

(Crain's) – Federal antitrust regulators have approved Tribune Co.'s $800 million sale of the Chicago Cubs to the Ricketts family.

The approval appears on a Sept. 4 Federal Trade Commission list of pending mergers and acquisitions that have been cleared by antitrust officials. Analysts had not expected any antitrust challenge to the deal.

The clearance is another step in Tribune's two-and-a-half-year quest to sell the ball club. It still needs approval from a bankruptcy judge and Major League Baseball owners. Both approvals are expected this fall.<!--QuoteEnd--><!--QuoteEEnd-->
<!--QuoteEnd--></div><!--QuoteEEnd-->

I thought it was for $900 mil. When did they chop another $100 mil off?

[rok]

<!--quoteo(post=62276:date=Sep 9 2009, 09:49 AM:name=Andy)-->QUOTE (Andy @ Sep 9 2009, 09:49 AM) <{POST_SNAPBACK}><!--quotec--><!--quoteo(post=62270:date=Sep 9 2009, 09:11 AM:name=rok)--><div class='quotetop'>QUOTE (rok @ Sep 9 2009, 09:11 AM) <{POST_SNAPBACK}><!--quotec--><!--quoteo--><div class='quotetop'>QUOTE <!--quotec-->Sept. 08, 2009

(Crain's) – Federal antitrust regulators have approved Tribune Co.'s $800 million sale of the Chicago Cubs to the Ricketts family.

The approval appears on a Sept. 4 Federal Trade Commission list of pending mergers and acquisitions that have been cleared by antitrust officials. Analysts had not expected any antitrust challenge to the deal.

The clearance is another step in Tribune's two-and-a-half-year quest to sell the ball club. It still needs approval from a bankruptcy judge and Major League Baseball owners. Both approvals are expected this fall.<!--QuoteEnd--><!--QuoteEEnd-->
<!--QuoteEnd--></div><!--QuoteEEnd-->

I thought it was for $900 mil. When did they chop another $100 mil off?
<!--QuoteEnd--></div><!--QuoteEEnd-->
The final price was $845 mil or something in that neighborhood, so this person is just rounding down......I think. Also, it's never been explained clearly to me whether the total value of the team includes or excludes the 5% that Tribco is retaining, so that makes things more confusing as well.

[BT]

<!--quoteo(post=62279:date=Sep 9 2009, 09:56 AM:name=rok)-->QUOTE (rok @ Sep 9 2009, 09:56 AM) <{POST_SNAPBACK}><!--quotec--><!--quoteo(post=62276:date=Sep 9 2009, 09:49 AM:name=Andy)--><div class='quotetop'>QUOTE (Andy @ Sep 9 2009, 09:49 AM) <{POST_SNAPBACK}><!--quotec--><!--quoteo(post=62270:date=Sep 9 2009, 09:11 AM:name=rok)--><div class='quotetop'>QUOTE (rok @ Sep 9 2009, 09:11 AM) <{POST_SNAPBACK}><!--quotec--><!--quoteo--><div class='quotetop'>QUOTE <!--quotec-->Sept. 08, 2009

(Crain's) – Federal antitrust regulators have approved Tribune Co.'s $800 million sale of the Chicago Cubs to the Ricketts family.

The approval appears on a Sept. 4 Federal Trade Commission list of pending mergers and acquisitions that have been cleared by antitrust officials. Analysts had not expected any antitrust challenge to the deal.

The clearance is another step in Tribune's two-and-a-half-year quest to sell the ball club. It still needs approval from a bankruptcy judge and Major League Baseball owners. Both approvals are expected this fall.<!--QuoteEnd--><!--QuoteEEnd-->
<!--QuoteEnd--></div><!--QuoteEEnd-->

I thought it was for $900 mil. When did they chop another $100 mil off?
<!--QuoteEnd--></div><!--QuoteEEnd-->
The final price was $845 mil or something in that neighborhood, so this person is just rounding down......I think. Also, it's never been explained clearly to me whether the total value of the team includes or excludes the 5% that Tribco is retaining, so that makes things more confusing as well.
<!--QuoteEnd--></div><!--QuoteEEnd-->


I was under the impression that the $845 INCLUDES the tribco percentage, but I could be wrong. Meaning Ricketts actually paid 800 million for the team/stadium/network.

[rok]

<!--quoteo(post=62281:date=Sep 9 2009, 10:33 AM:name=BT)-->QUOTE (BT @ Sep 9 2009, 10:33 AM) <{POST_SNAPBACK}><!--quotec--><!--quoteo(post=62279:date=Sep 9 2009, 09:56 AM:name=rok)--><div class='quotetop'>QUOTE (rok @ Sep 9 2009, 09:56 AM) <{POST_SNAPBACK}><!--quotec--><!--quoteo(post=62276:date=Sep 9 2009, 09:49 AM:name=Andy)--><div class='quotetop'>QUOTE (Andy @ Sep 9 2009, 09:49 AM) <{POST_SNAPBACK}><!--quotec--><!--quoteo(post=62270:date=Sep 9 2009, 09:11 AM:name=rok)--><div class='quotetop'>QUOTE (rok @ Sep 9 2009, 09:11 AM) <{POST_SNAPBACK}><!--quotec--><!--quoteo--><div class='quotetop'>QUOTE <!--quotec-->Sept. 08, 2009

(Crain's) – Federal antitrust regulators have approved Tribune Co.'s $800 million sale of the Chicago Cubs to the Ricketts family.

The approval appears on a Sept. 4 Federal Trade Commission list of pending mergers and acquisitions that have been cleared by antitrust officials. Analysts had not expected any antitrust challenge to the deal.

The clearance is another step in Tribune's two-and-a-half-year quest to sell the ball club. It still needs approval from a bankruptcy judge and Major League Baseball owners. Both approvals are expected this fall.<!--QuoteEnd--><!--QuoteEEnd-->
<!--QuoteEnd--></div><!--QuoteEEnd-->

I thought it was for $900 mil. When did they chop another $100 mil off?
<!--QuoteEnd--></div><!--QuoteEEnd-->
The final price was $845 mil or something in that neighborhood, so this person is just rounding down......I think. Also, it's never been explained clearly to me whether the total value of the team includes or excludes the 5% that Tribco is retaining, so that makes things more confusing as well.
<!--QuoteEnd--></div><!--QuoteEEnd-->


I was under the impression that the $845 INCLUDES the tribco percentage, but I could be wrong. Meaning Ricketts actually paid 800 million for the team/stadium/network.
<!--QuoteEnd--></div><!--QuoteEEnd-->
That would make the most sense, since the extra $45 mil is a bit over 5% (5.325% to be exact) of $845 mil, so the Ricketts would be shelling out $800 mil out of their own pockets.

[rok]

Interesting article on the Cubs sale and their revenue breakdown

<!--quoteo-->QUOTE <!--quotec-->Game-day profits

The Cubs make, on average, more than $2 million for each of their 81 regular-season home games. Here’s a breakdown of the estimated income per game:

Tickets $1.8 million
Broadcast rights $275,000
Luxury boxes $120,000
Concessions $185,000
Merchandise $50,000<!--QuoteEnd--><!--QuoteEEnd-->

[Butcher]

<!--quoteo(post=63466:date=Sep 17 2009, 01:09 PM:name=rok)-->QUOTE (rok @ Sep 17 2009, 01:09 PM) <{POST_SNAPBACK}><!--quotec-->Interesting article on the Cubs sale and their revenue breakdown

<!--quoteo--><div class='quotetop'>QUOTE <!--quotec-->Game-day profits

The Cubs make, on average, more than $2 million for each of their 81 regular-season home games. Here’s a breakdown of the estimated income per game:

Tickets $1.8 million
Broadcast rights $275,000
Luxury boxes $120,000
Concessions $185,000
Merchandise $50,000<!--QuoteEnd--><!--QuoteEEnd-->
<!--QuoteEnd--></div><!--QuoteEEnd-->
What are the average broadcast rights for other teams? I have no idea what to compare it to, but with a broad fanbase, it seems like the Cubs could do better.

[rok]

<!--quoteo(post=63474:date=Sep 17 2009, 01:46 PM:name=Butcher)-->QUOTE (Butcher @ Sep 17 2009, 01:46 PM) <{POST_SNAPBACK}><!--quotec--><!--quoteo(post=63466:date=Sep 17 2009, 01:09 PM:name=rok)--><div class='quotetop'>QUOTE (rok @ Sep 17 2009, 01:09 PM) <{POST_SNAPBACK}><!--quotec-->Interesting article on the Cubs sale and their revenue breakdown

<!--quoteo--><div class='quotetop'>QUOTE <!--quotec-->Game-day profits

The Cubs make, on average, more than $2 million for each of their 81 regular-season home games. Here’s a breakdown of the estimated income per game:

Tickets $1.8 million
Broadcast rights $275,000
Luxury boxes $120,000
Concessions $185,000
Merchandise $50,000<!--QuoteEnd--><!--QuoteEEnd-->
<!--QuoteEnd--></div><!--QuoteEEnd-->
What are the average broadcast rights for other teams? I have no idea what to compare it to, but with a broad fanbase, it seems like the Cubs could do better.
<!--QuoteEnd--></div><!--QuoteEEnd-->
Not sure, but in the article it mentions we only earn $200k from WGN per game, while CSN pays us $350k. I think we can up our broadcast revenue by at least 25% by ditching the superstation.

[Butcher]

<!--quoteo(post=63475:date=Sep 17 2009, 01:53 PM:name=rok)-->QUOTE (rok @ Sep 17 2009, 01:53 PM) <{POST_SNAPBACK}><!--quotec--><!--quoteo(post=63474:date=Sep 17 2009, 01:46 PM:name=Butcher)--><div class='quotetop'>QUOTE (Butcher @ Sep 17 2009, 01:46 PM) <{POST_SNAPBACK}><!--quotec--><!--quoteo(post=63466:date=Sep 17 2009, 01:09 PM:name=rok)--><div class='quotetop'>QUOTE (rok @ Sep 17 2009, 01:09 PM) <{POST_SNAPBACK}><!--quotec-->Interesting article on the Cubs sale and their revenue breakdown

<!--quoteo--><div class='quotetop'>QUOTE <!--quotec-->Game-day profits

The Cubs make, on average, more than $2 million for each of their 81 regular-season home games. Here’s a breakdown of the estimated income per game:

Tickets $1.8 million
Broadcast rights $275,000
Luxury boxes $120,000
Concessions $185,000
Merchandise $50,000<!--QuoteEnd--><!--QuoteEEnd-->
<!--QuoteEnd--></div><!--QuoteEEnd-->
What are the average broadcast rights for other teams? I have no idea what to compare it to, but with a broad fanbase, it seems like the Cubs could do better.
<!--QuoteEnd--></div><!--QuoteEEnd-->
Not sure, but in the article it mentions we only earn $200k from WGN per game, while CSN pays us $350k. I think we can up our broadcast revenue by at least 25% by ditching the superstation.
<!--QuoteEnd--></div><!--QuoteEEnd-->
I wonder how much the Yankees make off the YES network and the Red Sox from NESN. The Cubs need to get in on some similar action...