We found out yesterday that the Cubs may finally be free of the wretched talons of the comically underwealthy talons of owner Sam Zell, who has been trying to sell the team for almost as long as he’s had them, his cash flow nowhere near enough to cover bills for the franchise.
The new owners, the Ricketts family, were reportedly going to pay $900 million with $450 million up front and the rest in loans. Sounds fine, and the plan was set to be approved by the rest of MLB ownership. Now it turns out that Zell has found another buyer for the Cubs, coming to terms with Marc Utay and his investment group. The key to this deal is that it’s for a higher price, but with less money up front.
In other words, more disaster waiting to happen.