Not yet, speculation is that if he wants to recoup some of his investment that he'd sell them off and rumor has it that he isn't a baseball fan at all. But at this point it's all up in the air and no one is really sure.
Personally, I think for the city's sake and his that it would be foolish to move a team out of the city that makes so much money for it.
The Cubs are for sale after this season. The Cubs box office holds the #2 spot for the amount of revenue generated in the MLB. They are EXTREMELY profitable. Toss is a few concerts during the season, and the up keep to the ball park is minimal. Plus, the City of Chicago has waived their real estate taxes since 1987. The city will do everything to keep them at Clark and Addison because Cubs fans generate tens of millions in revenue for the city.
The Cubs are for sale after this season. The Cubs box office holds the #2 spot for the amount of revenue generated in the MLB. They are EXTREMELY profitable. Toss is a few concerts during the season, and the up keep to the ball park is minimal. Plus, the City of Chicago has waived their real estate taxes since 1987.
Interesting purchase. Newspapers have been on the market for the past 3 years and they have been selling at a significant discount to the market price. I find it fascinating that a guy as bright as Zell would pay a premium share price at $34 a share while is is trading around $32.
I wonder what future he thinks is in newspapers, as the internet gobbles up their readers, their advertisers and thus all of their revenue.
The Tribune is more than just a newspaper though, they also have the broadcast side, I think that's where most of their revenue is coming in these days.
WGN Morning news reported that the new owner would sell the Cubs. It had been said previously that the new owner would sell the Cubs to generate cash to re-invest into the Tribune company.
And apparently they were wrong, the cubs aren't being sold as part of the Tribune deal.
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