Winning Bidder Could Be Announced Within A Week

[rok]

<!--quoteo(post=12644:date=Jan 20 2009, 06:52 PM:name=Kid)-->QUOTE (Kid @ Jan 20 2009, 06:52 PM) <{POST_SNAPBACK}><!--quotec-->For the last 5+ years, the Cubs have played in front of like 97%+ capacity for the season. It's not really contingent on any of the factors you listed.<!--QuoteEnd--><!--QuoteEEnd-->
Not to mention that the vast majority of people purchase tickets well in advance, so weather and pitching matchups don't factor into their decision making. Those things might affect the final gate, but not the purchasing of tickets on the primary or secondary market. Maybe the tertiary market is affected...

[Coldneck]

<!--quoteo(post=12647:date=Jan 20 2009, 07:55 PM:name=rok)-->QUOTE (rok @ Jan 20 2009, 07:55 PM) <{POST_SNAPBACK}><!--quotec--><!--quoteo(post=12644:date=Jan 20 2009, 06:52 PM:name=Kid)--><div class='quotetop'>QUOTE (Kid @ Jan 20 2009, 06:52 PM) <{POST_SNAPBACK}><!--quotec-->For the last 5+ years, the Cubs have played in front of like 97%+ capacity for the season. It's not really contingent on any of the factors you listed.<!--QuoteEnd--><!--QuoteEEnd-->
Not to mention that the vast majority of people purchase tickets well in advance, so weather and pitching matchups don't factor into their decision making. Those things might affect the final gate, but not the purchasing of tickets on the primary or secondary market. Maybe the tertiary market is affected...
<!--QuoteEnd--></div><!--QuoteEEnd-->

I'm wasn't arguing that the cubs selling out is tied to those things, but it is? The reason they still sell out on nearly all occasions is because the demand exceeds the supply by such a vast amount. I was arguing that the price of tickets is tied to those items.

[ruby23]

<!--quoteo(post=12638:date=Jan 20 2009, 06:48 PM:name=Coldneck)-->QUOTE (Coldneck @ Jan 20 2009, 06:48 PM) <{POST_SNAPBACK}><!--quotec--><!--quoteo(post=12614:date=Jan 20 2009, 06:49 PM:name=ruby23)--><div class='quotetop'>QUOTE (ruby23 @ Jan 20 2009, 06:49 PM) <{POST_SNAPBACK}><!--quotec-->If there's a game I want to go to, I find the tickets and pay whatever they are asking for them. I only get to go to 4-5 games a year, so whether a ticket costs me $20 or $50, it's not gonna change my plans at all.<!--QuoteEnd--><!--QuoteEEnd-->

If you are only spending $20 to $50, you better be watching a game in April or somewhere other than Wrigley.
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You should really become more informed before you type.

[PcB]

<!--quoteo(post=12636:date=Jan 20 2009, 06:47 PM:name=Coldneck)-->QUOTE (Coldneck @ Jan 20 2009, 06:47 PM) <{POST_SNAPBACK}><!--quotec--><!--quoteo(post=12609:date=Jan 20 2009, 06:34 PM:name=rok)--><div class='quotetop'>QUOTE (rok @ Jan 20 2009, 06:34 PM) <{POST_SNAPBACK}><!--quotec--><!--quoteo(post=12552:date=Jan 20 2009, 12:27 PM:name=Coldneck)--><div class='quotetop'>QUOTE (Coldneck @ Jan 20 2009, 12:27 PM) <{POST_SNAPBACK}><!--quotec--><!--quoteo(post=12484:date=Jan 20 2009, 01:46 AM:name=rok)--><div class='quotetop'>QUOTE (rok @ Jan 20 2009, 01:46 AM) <{POST_SNAPBACK}><!--quotec--><!--quoteo(post=12447:date=Jan 19 2009, 06:43 PM:name=Coldneck)--><div class='quotetop'>QUOTE (Coldneck @ Jan 19 2009, 06:43 PM) <{POST_SNAPBACK}><!--quotec--><!--quoteo(post=12444:date=Jan 19 2009, 06:18 PM:name=rok)--><div class='quotetop'>QUOTE (rok @ Jan 19 2009, 06:18 PM) <{POST_SNAPBACK}><!--quotec--><!--quoteo(post=12427:date=Jan 19 2009, 03:32 PM:name=Ace)--><div class='quotetop'>QUOTE (Ace @ Jan 19 2009, 03:32 PM) <{POST_SNAPBACK}><!--quotec--><!--quoteo(post=12424:date=Jan 19 2009, 02:56 PM:name=Coldneck)--><div class='quotetop'>QUOTE (Coldneck @ Jan 19 2009, 02:56 PM) <{POST_SNAPBACK}><!--quotec--><!--quoteo--><div class='quotetop'>QUOTE <!--quotec-->That would *really* suck. It would also ensure that only wealthy people and ticket brokers had season tickets.<!--QuoteEnd--><!--QuoteEEnd-->
I agree. This could actually decrease the cost of tickets on the secondary market if more fall into the hands of ticket scalpers.

<!--quoteo(post=12422:date=Jan 19 2009, 02:41 PM:name=rok)-->QUOTE (rok @ Jan 19 2009, 02:41 PM) <{POST_SNAPBACK}><!--quotec-->That's one of the most despicable ideas ever. I'm all for generating new types of revenue, but this creates instant price inflation and squeezes out a lot of families from ever going to games. It was getting bad enough already. Shit, I already don't go to the ballpark as much as I used to. If this keeps up, I may go just once a season.<!--QuoteEnd--><!--QuoteEEnd-->

I disagree Rok. Inflation is caused by supply and demand. The curve already indicates that season tickets are vastly underpriced. The only people this will effect are season ticket holders. It shouldn't effect the price of tickets in the secondary market. I would argue that <i>most</i> families can't afford season tickets already. Most families will go to a handful of games (maybe just 1 or 2) during the season by purchasing single game tickets when they go on sale, or by purchasing them from the secondary market.

If anything, price on the secondary market will be driven downward because the ticket scalper supply will increase. I believe prices will remain the same though.
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Yeah, the scalper supply may increase, but they will be getting those tickets at a higher cost. A cost they'll pass on to the end user.
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That's what I'm talking about.
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But that's is totally against economic principal. The supply/demand curve will set the price. Supply is fixed, so the demand is what will determine the price of tickets. If scalpers increase their price it will decrease demand and they will be stuck with the tickets. The price will be determined by how much the consumer is willing to pay for the ticket. The face ticket price and personal seat license charges has little to do with secondary market for tickets. Furthermore, if the Cubs raised tickets prices to match demand they could cut the secondary market out altogether because there wouldn't be any profit for the scalpers.
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You're assuming elastic demand to prices under a normal S/D relationship for commodities and such. Cubs ticket demand has proven to be strongly inelastic to prices for the past 25 years. Sorry, but your reasoning doesn't hold up in special cases like these.
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We'll just have to disagree then. Do you think a fan will be willing to pay more for a ticket just because a ticket scalper had to pay a seat license? The price of the ticket will be determined by demand alone. If it is raining, or the Cubs suck, the ticket prices will go down. If the Cubs are winning and it's a sunny Saturday in July, the ticket prices will be very high. This has nothing to do with what the scalper has invested in the tickets.
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Dude, I majored in econ, and it strikes me that you're describing the Cubs as though they are a typical commodity. They are NOT. Supply and Demand have pretty much been fixed with regard to the Cubs for the better part of 3 decades, so demand dictates almost nothing in this case. In normal cases (say the White Sox) yes, but not in the case of the Cubs. Prices are dictated by the what the organization believes they should be, and all things being equal, if they decide to add a license fee on top of the existing prices (which I can't imagine will go down), you'd better believe that scalpers will pass along the difference to consumers.
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Rok, I also majored in econ. You are a smart guy and we aren't going to see eye to eye on this. But I will say that demand is most definitely not fixed. Demand is tied to how well the Cubs play, the weather, pitching matchups, team we're playing and so on. Supply is most definitely fixed. Since tickets are underpriced based on the supply/demand curve (thus a secondary market) than demand is what drives the prices.
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I might be really stupid but haven't the Cubs sold out every home game the past like 5 seasons?

[PcB]

<!--quoteo(post=12651:date=Jan 20 2009, 06:59 PM:name=ruby23)-->QUOTE (ruby23 @ Jan 20 2009, 06:59 PM) <{POST_SNAPBACK}><!--quotec--><!--quoteo(post=12638:date=Jan 20 2009, 06:48 PM:name=Coldneck)--><div class='quotetop'>QUOTE (Coldneck @ Jan 20 2009, 06:48 PM) <{POST_SNAPBACK}><!--quotec--><!--quoteo(post=12614:date=Jan 20 2009, 06:49 PM:name=ruby23)--><div class='quotetop'>QUOTE (ruby23 @ Jan 20 2009, 06:49 PM) <{POST_SNAPBACK}><!--quotec-->If there's a game I want to go to, I find the tickets and pay whatever they are asking for them. I only get to go to 4-5 games a year, so whether a ticket costs me $20 or $50, it's not gonna change my plans at all.<!--QuoteEnd--><!--QuoteEEnd-->

If you are only spending $20 to $50, you better be watching a game in April or somewhere other than Wrigley.
<!--QuoteEnd--></div><!--QuoteEEnd-->
You should really become more informed before you type.
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Yeah, I don't think I've ever paid more then $50 for a ticket.

[rok]

<!--quoteo(post=12657:date=Jan 20 2009, 07:11 PM:name=PcB)-->QUOTE (PcB @ Jan 20 2009, 07:11 PM) <{POST_SNAPBACK}><!--quotec--><!--quoteo(post=12651:date=Jan 20 2009, 06:59 PM:name=ruby23)--><div class='quotetop'>QUOTE (ruby23 @ Jan 20 2009, 06:59 PM) <{POST_SNAPBACK}><!--quotec--><!--quoteo(post=12638:date=Jan 20 2009, 06:48 PM:name=Coldneck)--><div class='quotetop'>QUOTE (Coldneck @ Jan 20 2009, 06:48 PM) <{POST_SNAPBACK}><!--quotec--><!--quoteo(post=12614:date=Jan 20 2009, 06:49 PM:name=ruby23)--><div class='quotetop'>QUOTE (ruby23 @ Jan 20 2009, 06:49 PM) <{POST_SNAPBACK}><!--quotec-->If there's a game I want to go to, I find the tickets and pay whatever they are asking for them. I only get to go to 4-5 games a year, so whether a ticket costs me $20 or $50, it's not gonna change my plans at all.<!--QuoteEnd--><!--QuoteEEnd-->

If you are only spending $20 to $50, you better be watching a game in April or somewhere other than Wrigley.
<!--QuoteEnd--></div><!--QuoteEEnd-->
You should really become more informed before you type.
<!--QuoteEnd--></div><!--QuoteEEnd-->
Yeah, I don't think I've ever paid more then $50 for a ticket.
<!--QuoteEnd--></div><!--QuoteEEnd-->
I've paid close to $80 for certain games, but all of them were premium games in the lower levels, and once it was for bleachers. Never again.

[ruby23]

<!--quoteo(post=12660:date=Jan 20 2009, 07:17 PM:name=rok)-->QUOTE (rok @ Jan 20 2009, 07:17 PM) <{POST_SNAPBACK}><!--quotec--><!--quoteo(post=12657:date=Jan 20 2009, 07:11 PM:name=PcB)--><div class='quotetop'>QUOTE (PcB @ Jan 20 2009, 07:11 PM) <{POST_SNAPBACK}><!--quotec--><!--quoteo(post=12651:date=Jan 20 2009, 06:59 PM:name=ruby23)--><div class='quotetop'>QUOTE (ruby23 @ Jan 20 2009, 06:59 PM) <{POST_SNAPBACK}><!--quotec--><!--quoteo(post=12638:date=Jan 20 2009, 06:48 PM:name=Coldneck)--><div class='quotetop'>QUOTE (Coldneck @ Jan 20 2009, 06:48 PM) <{POST_SNAPBACK}><!--quotec--><!--quoteo(post=12614:date=Jan 20 2009, 06:49 PM:name=ruby23)--><div class='quotetop'>QUOTE (ruby23 @ Jan 20 2009, 06:49 PM) <{POST_SNAPBACK}><!--quotec-->If there's a game I want to go to, I find the tickets and pay whatever they are asking for them. I only get to go to 4-5 games a year, so whether a ticket costs me $20 or $50, it's not gonna change my plans at all.<!--QuoteEnd--><!--QuoteEEnd-->

If you are only spending $20 to $50, you better be watching a game in April or somewhere other than Wrigley.
<!--QuoteEnd--></div><!--QuoteEEnd-->
You should really become more informed before you type.
<!--QuoteEnd--></div><!--QuoteEEnd-->
Yeah, I don't think I've ever paid more then $50 for a ticket.
<!--QuoteEnd--></div><!--QuoteEEnd-->
I've paid close to $80 for certain games, but all of them were premium games in the lower levels, and once it was for bleachers. Never again.
<!--QuoteEnd--></div><!--QuoteEEnd-->
I've paid more than $50 a few times(playoffs and box seats), but not on a regular basis. You don't have to, you can good good seats for $20-$30 to almost any game you want.

[kbwsb]

Just wanted to throw in how much I love Wrigley Field. I only wish I lived closer...I'd be going constantly. Rube, you're lucky to be able to catch all those ballgames.
I really had a great time at the SOITOW game this past summer. I also went to a night game a few days earlier, my first night game there. Great atmosphere.

I hope Ricketts pulls this puppy off.

[BT]

<!--quoteo(post=12610:date=Jan 20 2009, 05:36 PM:name=rok)-->QUOTE (rok @ Jan 20 2009, 05:36 PM) <{POST_SNAPBACK}><!--quotec--><!--quoteo(post=12554:date=Jan 20 2009, 12:39 PM:name=BT)--><div class='quotetop'>QUOTE (BT @ Jan 20 2009, 12:39 PM) <{POST_SNAPBACK}><!--quotec-->You might both be right. Scalpers can charge more if they'd like, but more and more people, with the Cubs encouragement, are selling (and buying) their tickets on stubhub. In most cases, tickets are sold on a declining price method, in that every day tickets listed have their prices come down, until the price meets demand. So while ticket brokers might transfer the cost of the PSL to the end user with their fixed prices, tickets bought on stubhub will reflect current demand, regardless of what the person selling the ticket paid for it.<!--QuoteEnd--><!--QuoteEEnd-->
I could be wrong, but most people that buy on StubHub don't wait until the final day of the event to complete a transaction. You're most likely describing a small % of the secondary market.
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I'm not sure what you are getting at here Rok. It doesn't matter WHEN they buy the tickets, all that matters is that the price has dropped to whatever they deem as "worth" their investment. Unless the tickets are being sold at a static price, the prices come down until the hit whatever "demand" says they are. Even the ones set with a static price are subject to demand, in that if you set your price at 150 dollars, and other similar tickets are going at 100, your tickets won't sell.

My guess is that more people buy tickets on stubhub now than buy from scalpers.

[rok]

<!--quoteo(post=12694:date=Jan 20 2009, 09:14 PM:name=BT)-->QUOTE (BT @ Jan 20 2009, 09:14 PM) <{POST_SNAPBACK}><!--quotec--><!--quoteo(post=12610:date=Jan 20 2009, 05:36 PM:name=rok)--><div class='quotetop'>QUOTE (rok @ Jan 20 2009, 05:36 PM) <{POST_SNAPBACK}><!--quotec--><!--quoteo(post=12554:date=Jan 20 2009, 12:39 PM:name=BT)--><div class='quotetop'>QUOTE (BT @ Jan 20 2009, 12:39 PM) <{POST_SNAPBACK}><!--quotec-->You might both be right. Scalpers can charge more if they'd like, but more and more people, with the Cubs encouragement, are selling (and buying) their tickets on stubhub. In most cases, tickets are sold on a declining price method, in that every day tickets listed have their prices come down, until the price meets demand. So while ticket brokers might transfer the cost of the PSL to the end user with their fixed prices, tickets bought on stubhub will reflect current demand, regardless of what the person selling the ticket paid for it.<!--QuoteEnd--><!--QuoteEEnd-->
I could be wrong, but most people that buy on StubHub don't wait until the final day of the event to complete a transaction. You're most likely describing a small % of the secondary market.
<!--QuoteEnd--></div><!--QuoteEEnd-->


I'm not sure what you are getting at here Rok. It doesn't matter WHEN they buy the tickets, all that matters is that the price has dropped to whatever they deem as "worth" their investment. Unless the tickets are being sold at a static price, the prices come down until the hit whatever "demand" says they are. Even the ones set with a static price are subject to demand, in that if you set your price at 150 dollars, and other similar tickets are going at 100, your tickets won't sell.

My guess is that more people buy tickets on stubhub now than buy from scalpers.
<!--QuoteEnd--></div><!--QuoteEEnd-->
Gotcha, I think I just misread your post then. We pretty much agree.

[Clapp]

<!--quoteo-->QUOTE <!--quotec-->Tribune Co. executives have chosen a favorite among three bids for the Chicago Cubs and have given that recommendation to the unsecured creditors committee in the company's bankruptcy case, a source close to the situation said Wednesday.

Tribune Co. and its investment banker, JPMorgan Chase & Co., removed the names from the bids, referring to them by number. The committee will review the offers and other Tribune Co.-related business at a regularly scheduled meeting Thursday.

The creditors have no official veto power over the sale of the Cubs, Wrigley Field and associated assets. But sources said Tribune Co. apparently wants to get the committee's consent in order to keep the case friendly.

It wasn't certain if the committee would return its own verdict Thursday, but its blessing may be the final hurdle to picking a finalist.<!--QuoteEnd--><!--QuoteEEnd-->

[cigar]

<!--quoteo-->QUOTE <!--quotec-->Tribune Co. has selected a favored bidder for the Chicago Cubs and has forwarded the offer to the media company’s creditors, sources said today.

One person familiar with the process said the endorsed bid was from Thomas Ricketts, president of corporate bond dealer Incapital LLC. He is the son of Joseph Ricketts, founder of the TD Ameritrade brokerage.

A Ricketts spokesman said neither he nor his client knows which offer was sent to Tribune creditors. His bid is one of three proposals for the Cubs that Tribune evaluated at length after weeding out several others.

Ricketts is believed to have offered around $900 million. The Cubs, without a World Series crown in 100 years, still are among the most valuable franchises in Major League Baseball because of their strong attendance and national TV following.<!--QuoteEnd--><!--QuoteEEnd-->

<!--quoteo-->QUOTE <!--quotec-->“They want Ricketts, and it’s always been Ricketts,” a source said.

While the others might have bid a higher price for the team, the source said the Ricketts offer had more conservative financing, an important factor when credit is extremely tight.

Also, Ricketts lives in the Chicago suburbs and represents what it essentially a family bid. Baseball owners, who must approve any Cubs sale, are known to favor tight-knit groups of owners with local ties.

Ricketts has an advantage because he hired the law firm Foley & Lardner to assist him in the ownership quest. A Foley partner is Robert DuPuy, who is president of Major League Baseball.<!--QuoteEnd--><!--QuoteEEnd-->

[savant]

I got caught on the Cuban wave of enthusiasm, but this is probably the best possible choice.

[PcB]

I expect a Peavy deal next week.

[Butcher]

Ricketts lives less than two miles away from me. If I don't like the direction the team is heading, I'll go and picket outside his house...