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Chicago Cubs File For Bankruptcy
Developing story: The Chicago baseball team is the first to file for bankruptcy since 1970. The filing will facilitate the team's sale to Incapital's Tom Ricketts for $900 million. This development has been expected for a while, and follows on the Tribune's Chapter 11 filing earlier this year.
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amusingly cnbc 6 mins behind tyler, breaking this story.
of course this is merely a News Alert story.
as the only BREAKING NEWS today is dow approaching 10,000.
i would love to see a print of 999.99.
If it does print 10k, I want to see the cheerleading crew answer the question, 'what next?'
Good, maybe now they can get rid of that bum Soriano's contract.
Why are they going straight to BK without stopping by the FED bailout window first?
considering Ricketts owns TD Bank, they should have funding available
+1
Aren't the Cubs used to folding in October?
+1
Although it is generally April, not October.
No, the Cubbies are famous for their annual "June Swoon".
September
i thought the feds would buy them at an inflated price of $2 billion or more. i am disappointed.
www.rightnotwrong.com
The Cubs are bankrupt. But the big story is that they are not going to pay their 300 million$ tax bill!!!!! Try not to pay your taxes!! How does Sammy boy Zell avoid 300 million in taxes??? Who does he know? Zell is one of the arch criminals.
I am certain a free taxpayor funded stadium is to follow. Zell and his henchmen fail to pay their 300 million in taxes and will get a taxpayor subsidy!!! I guarantee you the criminal Governor of Illinois will build the bankrupt Cubs a new stadium. Mayor Daley built a 750 million$ stadium for the bankrupt Bears. Imagine the graft in a new baseball stadium. Can you complain? No way! Zell owns the Chicago Tribune!!!!
Maybe they will liquidate Milton Bradley as a troubled asset.
Non-performing asset
The MLB and NFL were really the first recipients of the bailouts. For 20 years now "pro" American sports have been receiving billions from the taxpayors. It is only logical that the banksters try the same hoax. where is the American media? It is all propaganda; all the time, everytime.
I've been saying this would happen all year. Just look at all the empty stadium seats there were this year.
The population cannot support all the idol personalities that have been created by American Idol, TV programming personalities, Movie Personalities, Music personalities, Sports Personalities and all the support staff people associated with all that. There just is not enough money coming from advertising and the fans anymore. There was what I call a TV Bubble and it is now collapsing.
The cubs drew over 3 million this year.
Tell me what the total attendance stats were this year?
Not sure what their total was, but it was over 3 mil for the 6th consecutive year.
cubs draw 3,000,000 fans
http://bit.ly/hgROp
MLB draws 5th highest attendance ever
http://bit.ly/11rjIV
That's what I'm talking about. Attendance trend is down for years .
I am waiting for Jerry Jones to roll over with his new Cowboy stadium.
Obviously their ticket prices are way too low.
Either that or the players' salaries are way too high.
Whocoodanode?
For 20 years I have preidcted the end of the "baseball, hot dogs, apple pie, and chevrolet". well, apple pie is still alive but I prefer strudel.
Now it's; Health Care, Hospitals, Pharmaceuticals, and Pfizer. 24/7/365 The medical industrial complex TV time is approaching 33%. And this is supposed to replace all the manufacturing that we sent away?
Yes, this is the new "new economy".
We all get rich emptying each others' bed pans.
The 3 million in attendance is a fraud. 50% of the tickets are given away free. With its current structure, the Cubs can only survive with a free taxpayor funded stadium. And they must not pay their 300 million$ tax bill.
Always been a huge baseball fan, and sports fan in general. Played myself, the whole thing. At this point in time, considering I'm pissed off at pretty much everything, it might be a good thing if the entire sports industry blew up. It has turned into an complete crock of shit.
And besides, how can a damn athlete make more than pigmen. I guess I'm just old, stupid, and pissed off.
[/rant]
If I ever see Mark Haynes on the street, I swear I am going to kick in his fucking face.
The pro-bowler from the Giants - he was one of my all-time favorites. He'll kick you in the knee first.
They should allow the Trustee to run the Cubs for a year. Maybe they'd win the Series.
Empty stadia? the Florida Marlins had less than 1000 fans at some games. Yet the Miami council voted to provide a 2.2 billion$ stadium for this private enterprise! The government cannot be stopped. It is impossible. Criminal to the core.
When are the MLB owners ever going to warm up to a potential owner like Mark Cuban? Sure, he's loud, obnoxious and brash, but above all else (besides making a nice return on his investment) he's willing to do what's necessary to WIN! I mean, name other owner who would actually hire 12 assistant coaches for their NBA team...
After 100+ years, I can't imagine too many Cubs fans being upset about that. Hell, last I checked, Bud Selig still has a franchise in D.C. that he's trying to unload.
Cuban would bum-rush the field...one step behind ol Lou to kcik dirt on home plate.
I'd bet Don Nelson has some harsh words tho...
Cuban is fucking NUTS! BUT, he's also fucking BRILLIANT. MLB has to realize that they are going nowhere fast. Their problem is that of most organizations; they would rather sit back and bleed this lifeless body of it's last drop of blood, as appossed to checking for a pulse and getting it to the ER.
How else can you justify getting your ass handed to you by NASCAR? (I mean, seriously... NASCAR?!)
They need a new stadium. And I know just the taxpayers to build it.
I don't know about their financials, i just wish I could buy the team because I LOVE THE CUBS forever and no matter what!!!
the love for the cubs does not match the debt of the cubs. the love for the cubs does not match the 300 million in taxes they wont pay. If you owe 30,000 in taxes they put you in jail. You owe 300 million? You are a hero. This is a sick society. I would ban the Cubs until they paid their taxes. Former Illinois governor Blagovich refused to build a taxpayor stadium for the Cubs. Sam Zell eliminated him.