[Hendry and Baker, the glory days …]
You know the Cubs 2008 postseason was a massive disaster when Dusty Baker gloats sends his sympathies (via the Trib’s Fred Mitchell) but then, Baker does have quite a few more postseason wins with the Recublicans than Lou Piniella. “Yeah, there are a lot of guys over there who I managed,” Baker said. “Big sympathy right there. When I think about those guys … you hate to see anybody go down like that.”
The high command of the Cub machine, from Sam Zell to Crane Kenney … well I guess that’s it … have extended Cub GM Jim Hendry’s contract for another four years. In talking to the press, Hendry thanked the necessary millionaires and billionaires, but also answered one critic, Alfonso Soriano, that the Cubs were not a team “built” for the post season. Soriano, who hit .143 and .071 in his respective Cub postseasons, will always be “Mr. September” in the hearts of Cubs fans.
As for the Tribune Co’s sale of the Cubs, Mark Cuban did a little downsizing of his offer via Rick Morrissey, one of Sam Zell’s assistants sports columnists. Reports Mr. Morrissey:
The team he wants to own might be worth less today than it was three weeks ago, before the current financial crisis exploded.
“Yeah, it’s going to affect the deal structure,” Cuban said. “Because of the way the deal was originally meant to be structured, it’s going to create a challenge. So it’ll certainly have an impact. Anytime the cost of capital goes up, the cost of assets goes down. Which is what you’re seeing in the stock market.”
When Cuban says “deal structure,” what he’s really saying is price. Before the recent economic trouble, the price of the Cubs, Wrigley Field and broadcast properties was expected to rise above $1 billion. Now? Just as in most other segments of the business world, no one has a clue.