Zell and the Cubs Sale

So, the Tribune Company wants to sell the Chicago Cubs. Months of tough negotiations and tiresome bargaining has led to this. And this. It could be TribCo trying to play hardball and run up a bidding war for the team. But, in my opinion that is the wrong move to make. The Ricketts family has spent months hammering out financing and the rates for the Cubs broadcast deals. The Ricketts family lined up three banks to pony up the loan portion of the deal. Due to the tight global economy, banks are refusing loan requests every single day and this includes from billionaires such as the Ricketts family. What would I do if I were the Ricketts family? Walk away from the deal. Of course this would be one big bluff, but I would call up the TribCo negotiators and tell them that we (the Ricketts family) are walking away. I would do this because it would force the hand of Zell and MLB. MLB would then pressure Zell and TribCo and the Ricketts would get the franchise anyway. Since the Utay group really is in this now as a sort of dog and pony show contestant, a bluff walk-away by the Ricketts family would create tremendous pressure on TribCo. So, now the deal can get done…or the Cubs can stay on the block and agonize and be in gridlock many more months. Let's wait (hopefully not long) and see.

Lowe