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#Post#: 483037--------------------------------------------------
Re: Hot Stove
By: CUBluejays Date: November 27, 2023, 2:44 pm
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[quote author=davep link=topic=630.msg483030#msg483030
date=1701110918]
I agree. But in the context of the discussion, how much extra
profit would the hotel make if they were to sign Ohtani. And
why should the Ricketts family put that money into the Cubs,
which is a different entirely? I have seen no indication that
other owners devote their entire fortune to the team they own.
And the few that do, soon back away from it, as the Mets
ownership did after only three or four months.
[/quote]
Here's the thing. No one is suggesting the Rickett's family
throw their entire fortune into the Cubs payroll. I made an off
hand comment that the Rickett's family could lose money on the
Cubs and still make that up with the other buisiness's they own
around Wrigley. I really believe that, but for the Cubs family
to actually lose money on the Cubs and not just paper losses.
The Cubs would need a payroll well above $300 million. That
would be without other revenues coming in playoffs or other say
from Japanese TV rights.
The Braves with a higher payroll and lower revenue than what the
Cubs had in 2022, had a $70 million profit.
#Post#: 483038--------------------------------------------------
Re: Hot Stove
By: davep Date: November 27, 2023, 3:08 pm
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[quote author=chgojhawk link=topic=630.msg483035#msg483035
date=1701113604]
The Ricketts family owns a ton of different ventures and earned
their fortune well before buying the Cubs (obviously). The
intent of the family was to use some of their fortune in running
the Cubs. After suffering losses (on and off the field) some in
the family weren’t too keen on continued investments toward the
Cubs.
The family worked out a plan where a capital investment company
was created with investors, independent of the family, for the
purpose of Cubs related business. My belief is that businesses
included in this investment portfolio are pooled together for
the greater good of all investments.
Here is a relatively early release from the group:
Hickory Street Capital (HSC), a real estate development company
owned by the Ricketts family, is building a lifestyle mixed-use
development adjacent to Wrigley Field. The development will
consist of two main buildings and a community-oriented open air
plaza. The first building will be anchored by the new home of
the Chicago Cubs front office and will also include various
mixed-use retail tenants and an American Airlines conference
center. The second building will be anchored by Hotel Zachary
and will include various mixed-use retail locations and a below
grade parking structure. The open air plaza will be a community
gathering place featuring decorative landscaping, welcoming
green space, playful water features and many park like elements
that will help serve as the town center of Wrigleyville.
[/quote]
Thanks. That is pretty much the way I remembered it. The Cubs
were meant to be a stand alone investment, and the peripheral
investments were not to be comingled.
#Post#: 483039--------------------------------------------------
Re: Hot Stove
By: chgojhawk Date: November 27, 2023, 3:22 pm
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[quote author=davep link=topic=630.msg483038#msg483038
date=1701119328]
Thanks. That is pretty much the way I remembered it. The Cubs
were meant to be a stand alone investment, and the peripheral
investments were not to be comingled.
[/quote]
I think it started that way but was modified as they went along.
It was also supposed to 100% stay in the family but investors
were brought along for the Wrigley neighborhood and the Cubs.
#Post#: 483042--------------------------------------------------
Re: Hot Stove
By: davep Date: November 27, 2023, 5:07 pm
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It was reported that the original purchase contract specified
that the Cubs could not borrow money for improvements to the
stadium and grounds. Because of this, when they decided to put
in the giant outfield scoreboards, there was no money in
operations to pay for it. They then brought in "partners"
(Wintrust was the specifid one mentioned) that shared the cost
and ownership of the revenue coming from the ads on it.
#Post#: 483045--------------------------------------------------
Re: Hot Stove
By: CurtOne Date: November 27, 2023, 6:42 pm
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[quote author=wmljohn link=topic=630.msg483032#msg483032
date=1701112378]
I heard from a friend that knows a kindergarten teacher who
publishes a monthly newsletter that Ohtani would be signed by
the Cubs before the week is out.
[/quote]You need to get your facts straight, it was second
grader who told the kindergarten teacher and she only publishes
the newsletter bi-monthly. Sheesh.
#Post#: 483080--------------------------------------------------
Re: Hot Stove
By: CUBluejays Date: November 27, 2023, 9:47 pm
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[quote author=davep link=topic=630.msg483042#msg483042
date=1701126420]
It was reported that the original purchase contract specified
that the Cubs could not borrow money for improvements to the
stadium and grounds. Because of this, when they decided to put
in the giant outfield scoreboards, there was no money in
operations to pay for it. They then brought in "partners"
(Wintrust was the specifid one mentioned) that shared the cost
and ownership of the revenue coming from the ads on it.
[/quote]
Wintrust pays the Cubs to be their banking partner. The money
from the sponsorship helped pay for the Wrigley’s renovations.
They don’t get a percentage of the add revenue.
HTML https://www.mlb.com/news/chicago-cubs-and-wintrust-announce-long-term-legacy-partnership/c-103066466#:~:text=The%20Cubs%20entered%20into%20an,and%20Resorts%20and%20Under%20Armour.
#Post#: 483109--------------------------------------------------
Re: Hot Stove
By: CUBluejays Date: November 28, 2023, 9:23 am
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HTML https://www.bleachernation.com/cubs/2023/11/28/tyler-glasnow-shane-bieber/
I would prefer the not Bieber option.
#Post#: 483117--------------------------------------------------
Re: Hot Stove
By: Reb Date: November 28, 2023, 3:56 pm
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[quote author=CUBluejays link=topic=630.msg483109#msg483109
date=1701185009]
HTML https://www.bleachernation.com/cubs/2023/11/28/tyler-glasnow-shane-bieber/
I would prefer the not Bieber option.
[/quote]
Yeah, the upside guy is Glasnow.
But, Glasnow’s career high IP is 120 (and he’s 30) and he’s at
$25M for 2024.
Bieber is now a pitchability guy, maybe kind of like Stroman but
with more of a pitch mix and fewer ground balls. He’s at MLBTR
arb estimate of $ 12.2 for 2024.
Both are pending post-2024 FAs.
Kind of a scouting assessment re. Glasnow upside/health
probability. If he’s projected for top form, he’s clearly
preferable. On other hand, difference in salary could mean
payroll money to sign Candelario or Robert Stephenson. So, maybe
question is Bieber and Candelario vs. Glasnow?
In any case, Glasnow more of a potential TORP type guy, so he’s
the pick. If not, happy if could get Bieber.
#Post#: 483118--------------------------------------------------
Re: Hot Stove
By: Deeg Date: November 28, 2023, 4:19 pm
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[quote author=CUBluejays link=topic=630.msg483109#msg483109
date=1701185009]
HTML https://www.bleachernation.com/cubs/2023/11/28/tyler-glasnow-shane-bieber/
I would prefer the not Bieber option.
[/quote]
All the peripherals are in free-fall with Beiber, and he’s lost
3 MPH in velocity from when he was really good. His topline
numbers last year reflect a lot of luck. If the Guardians are
just looking to dump his contract, sure, but you certainly don’t
want to give up anything of value for him.
#Post#: 483123--------------------------------------------------
Re: Hot Stove
By: CurtOne Date: November 28, 2023, 5:16 pm
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I am amazed at the number of writers and "experts" are
suggesting that the Cubs are the leading contenders for Ohtani.
I'm a doubter, but where's the smoke...
And let's not forget William's kindergarten teacher!
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