Blog Entry

Cubs' debt could handcuff free agent spending

Posted on: June 4, 2011 10:46 pm
 
By C. Trent Rosecrans

Tom RickettsCubs fans with dreams of either Albert Pujols or Prince Fielder defecting to the Cubs from their current National League Central foes may want to lessen their expectations.

According to Gordon Wittenmyer of the Chicago Sun-Times, the Cubs' current debt structure will keep the team from signing any high-ticket free agents for the next two or three years. Wittenmyer spoke to a source with "first-hand knowledge of the Cubs' purchase deal and debt structure" and noted it's consistent with the message Tom Ricketts has been preaching since taking over the team that they team would build through player development.

Friday the Los Angeles Times reported the Cubs were one of nine teams that were in violation of baseball's debt service rules. However, commissioner Bud Selig told the Chicago Tribune that he has no concern about the Cubs' current debt level. According to the Tribune, the Ricketts financed more than $400 million to purchase the Cubs in 2009, a deal that was worth $845 million.

"I have zero concern," Selig told the Tribune of the Cubs. "Everything we've ever asked of them, they've done it and then more. … I'm happy that a story [like this] reflects badly on the Chicago Cubs under Tom Ricketts. There is no reason anybody should have economic concerns. … It's so unfair to Tom Ricketts and the family. I normally don't talk about our business, but I can't let this go on. This is wrong."

However, the paper notes Selig did not dispute the accuracy of the story, just the perception it creates that more than just the Mets and Dodgers are in dire financial trouble.

Selig said the team is free to do whatever they want without interference from his office. But just because the bank says it's not foreclosing on your house, that doesn't make going out and buying a new Bentley is a good idea.

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Comments

Since: Dec 2, 2011
Posted on: December 5, 2011 11:54 pm
 

Cubs' debt could handcuff free agent spending

I realized it had been going to certain frank are you aware turn in, but it surely seriously spent just for time. I'll go ahead and publish a url towards the present world wide web page tiny net site. More than likely the actual men and women learn that highly vital



Since: Dec 7, 2010
Posted on: June 6, 2011 3:35 pm
 

Cubs' debt could handcuff free agent spending

10 simple steps to get the Cubs on the right course:

10.  Call Allied Movers to pack up Crane Kenny, Jim Hendry and Quady offices and send them on their way. 
 9.  Hire a baseball person to be president and run the club.  Let that person hire the GM..let the GM hire the manager and let the manager hire the coaches.
  8.  Fire the head of player development.  This guy hasn't produced anyone in how long?  I think he still thinks Josh Vitters has a future?
  7.  Hire a top notch scouting director and spend the money on scouting and player development.
  6.  Trade Zambrano while the going is good.  Yankees need pitching and they have a lot of top catching prospects.  Get one of those guys.
  5.  Trade as many expiring contracts (Ramirez, Fukudome, Pena) as you can for anything prospect wise.
  4.  If you bring up young prospects to the major league level, PLAY THEM ....
  3.  Your going nowhere this year, play the players that are the future...(Colvin, Jackson ect..)
  2.  Have a philosophy and sell it to your fans.  If you starting over say so,  the fans will support honesty,  they will not support bs....
  1.  Time to build a new stadium, a new attitude and a new approach.... Nothing else has worked for over 100 years..



Since: Dec 7, 2010
Posted on: June 6, 2011 3:20 pm
 

Cubs' debt could handcuff free agent spending

The owners should put the handcuffs on Hendry and not let him answer the phone....  This guys has no direction, there is no philosophy, nothing !!  After he signed Pena to 10mil when no one was offering him more than 3..he should of been fired then... Why would ownerhsip leave him and Crane Kenny in charge?  Makes zero sense...  And for Ricketts To tell the fans that they wanted to observe how the team is run.... Then tell me who they have been watching for 30 years...When the Ricketts took over they needed to clean house and start from scratch... Everyone from the top down to the janitor... Its a mind set and the mind set is "loveable losers" ...  this all has to change before they can go forward.  Im not a cub fan nor do I hate them, but this is just a business observation looking from the outside in.



Since: Sep 21, 2006
Posted on: June 6, 2011 11:27 am
 

Cubs' debt could handcuff free agent spending

And everything was gonna be so awesome --'member?

Loving every second of this...



Since: Nov 10, 2006
Posted on: June 5, 2011 4:18 pm
 

Cubs' debt could handcuff free agent spending

Given the way the Cubs have chosen to spend their money on free agents in the past few years (Fukudome, Bradley, Pena, etc.), Cub fans should be GRATEFUL they can't spend more money on big free agents. They made Ed Wade seem absolutely gifted when it comes to free agent signings.



Since: Jul 27, 2009
Posted on: June 5, 2011 11:22 am
 

Cubs' debt could handcuff free agent spending

And even though it really is a POS, I think they should use it for high school championship games and other special games. They need to build a stadium somewhere close to the lake and have it seat about 60,000 people. You know however if there are seats available then fans will fill it. Unless they keep throwing out garbage players. You can only hold onto the past for so long and Im pretty sure Wrigleys time is up!



Since: Jul 27, 2009
Posted on: June 5, 2011 11:14 am
 

Cubs' debt could handcuff free agent spending

AGREE!!! Wrigley has been great but its time to go. Lets start fresh...... You build it and they will come




Since: Feb 18, 2011
Posted on: June 5, 2011 4:03 am
 

Cubs' debt could handcuff free agent spending

sold out crowds for years + the highest ticket prices in baseball = debt?  Someone f'd up.  Damn Tribune company.  At least they're gone.  Unlike most Cub fans I realize that the new owners are going to need some time to make things happen and didn't expect big thing in their first few years.  I like how they are trimming payroll and using that money for scouting.  This team will still have $100 mil payroll and I still think they'll be able to get Fielder.  If not oh well.  Actually, I think if they bulldozed the POS Wrigley Field and built a new stadium there they'd actually be in better shape.  They spend millions upon millions in the offseason fixing that piss hole.  I love Wrigley Field but I say it's time for a new park.



Since: Nov 7, 2010
Posted on: June 5, 2011 2:17 am
 

Cubs' debt could handcuff free agent spending

the problem?..outside Garza, Marmol..the trade value of the other veterans is........zero



Since: Apr 28, 2009
Posted on: June 4, 2011 11:04 pm
 

Cubs' debt could handcuff free agent spending

The important numbers for the Cubs are 23 wins and 33 losses.  No one could ever understand how all this stuff works. You need charts to come close.


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