The sale of the Chicago Cubs and Wrigley Field should rapidly accelerate over the next few weeks as bids for Cubs are due by the end of the day, and 20 bids have offered up a bid on Wrigley Field by itself.
A combined sale of Wrigley Field, the Cubs, and a 25% stake in ComcastSports Chicago could fetch as high a $1 billion.
Ten groups have been approved by MLB for the sale of the Cubs, but Sam Zell, the new owner of the Tribune Co. is looking to maximize his assets by selling the pieces separately, or as a package.
The group of 10 will be whittled down to a handful that will bid and counter-bid in the final push to own the Cubs.
With a scenario in which the assets are decoupled, there has already been a $300 million bid for Wrigley Field. The bid has been made by real estate conglomerate Inland Real Estate Group of Cos has placed a bid of $300 million for the rights to own Wrigley Field.
Some of the approved bidders for the Cubs include:
- John Canning Jr. – CEO, Madison Dearborn Partners
- Mark Cuban – Billionaire owner, Dallas Mavericks
- The Ricketts family - TD Ameritrade Holding Corp
- Andrew Murstein’s group (includes Henry Aaron, Jack Kemp)
- Michael Tokarz – CEO, MVC Capital Inc.
- Don Levin – Owner, Chicago Wolves minor league hockey team
- Rocco Landesman – President, Jujamcyn Theaters
- Jim Anixter – President, A-Z Industries Inc.
MORE ON THE SALE OF THE CUBS
Source: Reuters, Business of Sports Network research