The Industry Standard - Mark Cuban, dot-com billionaire, buys the Cubs - Comments

It was a rather obvious

David Kuan — Sun, 25 Jan 2009 17:27:22 -0500

It was a rather obvious choice ... it was alluded to way back in late Aug or early Sept 08. Mark Cuban is not part of the "old boys club".

Tribune Co. has picked the

Eric Hill113600 — Sun, 25 Jan 2009 16:59:24 -0500

Tribune Co. has picked the Ricketts family as the winning bidder to purchase the Chicago Cubs, according to multiple reports.

I was thinking the same

John Curran — Thu, 08 Jan 2009 01:08:01 -0500

I was thinking the same thing [judgement should be rendered fairly quickly], but we're still waiting as if this was actually difficult...

Did not happen by end of

David Kuan — Fri, 02 Jan 2009 08:37:28 -0500

Did not happen by end of 2008. Unfavorable judgment can now be rendered.

This is a done deal

David Kuan — Mon, 08 Dec 2008 15:17:01 -0500

This is a done deal regardless if Cuban submitted a bid or not. Decision will NOT be made until Spring which is AFTER the judgment date criteria.

Latest.... 3 bids submitted

David Kuan — Tue, 02 Dec 2008 21:34:58 -0500

Latest.... 3 bids submitted by Thanksgiving deadline. Insiders hinted that Cuban isn't one of the 3.

http://mlb.mlb.com/news/article.jsp?ymd=20081201&content_id=3697270&vkey...
http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_con...
http://markinchicago.typepad.com/cuban_and_the_cubs/2008/12/sionara-cuba...

@TIS, if this is confimed, can unfavorable judgment be rendered?

From

David Kuan — Thu, 20 Nov 2008 13:54:10 -0500

From http://mlb.mlb.com/news/article.jsp?ymd=20081119&content_id=3685525&vkey...

"On Monday, news broke that Cuban was targeted in a civil proceeding by the Securities and Exchange Commission, which is looking into insider trading regarding the sale of personal stock. One MLB owner said on Wednesday that Cuban's bid for the Cubs would go on the back burner for the time being until the SEC issue is resolved."

Also, according to SI.com (picked up by http://www.fannation.com/truth_and_rumors/view/78171) , it seems Cuban is OUT of the running as the bid is not considered serious enough. According to reports, only 4 serious bids are in consideration at this time.

Between the General Managers

John Curran — Mon, 17 Nov 2008 16:05:51 -0500

Between the General Managers vote, and the insider trading claim, I don't see how he could possibly succeed picking up the Cubs by years-end...

@Eric, jest aside ... airing

David Kuan — Mon, 17 Nov 2008 13:37:31 -0500

@Eric, jest aside ... airing the trial on HDNet would have the likelihood of 0.0000000000000000000000000001% happening if it is greater than 0%. Perhaps a more realistic prediction is "Cuban found guilty of insider trading".

What does the following mean from SEC?

"The Commission's complaint seeks to permanently enjoin Cuban from future violations of the federal securities laws, disgorgement (with prejudgment interest)"

As I recall, anyone found guilty of insider trading is prohibited from being in a position with executive power (see Martha Stewart's sentence). Wouldn't this hamper Cuban's bid for Cubs?

Saw that this morning on the

Eric Hill113600 — Mon, 17 Nov 2008 12:54:00 -0500

Saw that this morning on the NY Times. Not sure if this hurts his chances, or helps it? ;) One of our editors joked we should create a prediction that his upcoming trial will be shown on HDNet.

Mark Cuban might now be

David Kuan — Mon, 17 Nov 2008 12:39:59 -0500

Mark Cuban might now be distracted now that he is being charged for Insider Trading by SEC.

http://www.sec.gov/news/press/2008/2008-273.htm

Very interesting, @David,

Eric Hill113600 — Wed, 12 Nov 2008 16:56:51 -0500

Very interesting, @David, thanks for the tip!

Of the remaining 5 bidders,

David Kuan — Wed, 12 Nov 2008 16:48:53 -0500

Of the remaining 5 bidders, they have been asked to resubmit new offers (including financing details) by Nov 26 to be considered further!

http://www.sportingnews.com/yourturn/viewtopic.php?t=484921
http://markinchicago.typepad.com/cuban_and_the_cubs/2008/11/tribune-desp...

This isn't a done deal, but

Eric Hill113600 — Fri, 07 Nov 2008 14:31:26 -0500

This isn't a done deal, but yes - it is looking less and less likely IMO. Your article, David, seems to be one of the last nails in the coffin for this deal to transpire.

Looks like Cuban won't be

David Kuan — Fri, 07 Nov 2008 14:21:22 -0500

Looks like Cuban won't be making it into the final round as the good 'ol boys club of MLB and Bob Selig has indicated a no vote for Cuban at the General Managers meeting.

http://www.suntimes.com/sports/deluca/1266088,CST-SPT-deluca07.article

Mark Cuban, dot-com billionaire, buys the Cubs

The Standard — Thu, 07 Aug 2008 14:11:26 -0400

Judgment on January 8, 2008: This did not occur by the end of 2008. On January 6, 2009, the Cubs' website reported that the winning bid could be announced soon. However, it was not made in time to meet the requirements of this prediction. So, whether Mark Cuban is successful or not is a moot point. -- The Industry Standard

Original prediction: Ever since opening day of 2007, rumors have been heard (from left field?) that Mark Cuban, billionaire dot-com entrepreneur turned Dallas Maverick’s owner and blog maverick, was on the short list for buying one of baseball’s most storied franchises, the Chicago Cubs. Those rumors became fact when Cuban submitted his application to Major League Baseball to purchase the team last July.

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The Tribune Company, the current owner of the Cubs, announced their desire sell the team by the end of the 2007 season. As reported by ESPN last year, “The team is one of Tribune's richest assets. Bidding for the ballclub and historic Wrigley Field, however, is certain to be fiercely competitive. Analysts have estimated the Cubs could fetch $600 million or more, a far cry from the $20.5 million Tribune paid in 1981.”

That deadline came and went. But news around the sale is beginning to heat up again. Could baseball be warming to the idea of Mark Cuban joining their ranks?

While Cuban’s name has always been on the short list of buyers, his legendary antics as the owner of the NBA’s Dallas Mavericks could be making the conservative baseball owners queasy. They can reject his bid without any reason given.

As reported by the NY Times on August 3, 2008, “Bob DuPuy, the president of Major League Baseball, . . . praised Cuban’s Internet and technology expertise. “He’s been outspoken on issues, but we’ve had owners who are outspoken as well,” he said. With his tongue lodged somewhere in his cheek, he said, “I’ve not heard of him referred to as a loudmouth.””

Will baseball embrace the outspoken and opinionated personality of Mark Cuban, or will they go the less controversial (and starchier) route?

This is a prediction that Mark Cuban will make a successful bid for the Chicago Cubs in 2008, and will be the new owner of the current top team in the National League. Considering where the Cubs are today, a deal like this might not be announced until the end of the season in order to avoid distraction (although a team with its first World Series title in 100 years might change the price).

(photo credit: kk+)