Sam Zell talks about selling naming rights to Wrigley

[ChicagoTRS]

What people do not realize is Zell is going to destroy the future of our team. He is selling the naming rights, PSLs, the field, etc...and he is going to pocket the money and then sell a stripped down team that has just lost most of its main future revenue sources.

The new owners are going to be working off a much tighter payroll...we are going to go from a big market ballclub to a small market team. They will lose all of the PSL money...they will be tied to probably 30 years of stadium naming rights and not see a dime of the money...the field is going to be owned by the Illinois Sports Commission and the new owners are going to be tied to a 30 year lease at 30 million+ per year.

Our worthless commissioner is not going to do anything while Zell guts the team.

This is a huge story...we are watching our team get ransacked and left for dead.

[SportsWorld]

Cubs likely to sell Wrigley name rights
http://chicago.cubs.mlb.com/news/articl ... p&c_id=chc

MESA, Ariz. -- The Cubs have been approached by at least three companies interested in purchasing naming rights to Wrigley Field, and team chairman Crane Kenney said on Friday that it is likely they will sell those rights.

Kenney, speaking to beat writers about the state of the team, also said that the Cubs are progressing in their efforts to get the Illinois Sports Facilities Authority (ISFA) to buy the ballpark and operate it, and could receive an offer next week. Kenney said they are still hopeful a framework for the transaction with ISFA could be completed by Opening Day, which is March 31.

Naming rights is the hot button issue with fans. The Cubs have already made some changes, such as renaming the bleachers the "Bud Light Bleachers" and adding the new Chicago Board Options Exchange seats, currently being auctioned off. New Tribune Co. chairman Sam Zell has made it clear that he is interested in selling naming rights to the ballpark, which was built in 1914 and named after William Wrigley.

[SportsWorld]

Wrigley shareholders put naming rights in play
http://www.suntimes.com/business/840181 ... 13.article

The chairman of Wm. Wrigley Jr. Co. failed to put the kibosh on speculation that his business might buy naming rights to Wrigley Field.

It wasn't for a lack of effort by investors who packed a Chase Tower auditorium for the chewing gum firm's annual shareholders meeting Wednesday. They wanted an answer.

A shareholder was quick to put the question to William Wrigley Jr. before the company was 10 minutes into its business session, urging him to take a pass on buying the rights.

"I thought it would take us about a minute and 30 seconds into the Q&A session for that to come up. You surprised me," Wrigley joked, before agreeing to answer the question later in the meeting.

[Howling Mad]

Read some of the excerpts in this article. Looks like we're getting some help from Sox fan-Mayor Daley.

Wrigley Field sale to state looking like latest Cubs loser
http://chicagosports.chicagotribune.com ... 2935.story
March 18, 2008

"It's not dead, but it's on life support," said one source. "It's not evident the deal will get done at all."

Mayor Richard Daley is chafing at the prospect of sales tax revenue being diverted and the ballpark's landmark status being changed. Illinois lawmakers, faced with dire funding problems, are resistant to the idea of spending money to help out a private business. And Cub fans have been howling at the prospect of naming rights being sold to help fund the deal, and the outcry appears to be scaring off potential corporate sponsors.

A spokeswoman for Sam Zell, the billionaire businessman who took Tribune Co. private last year, declined to comment Monday, as did Crane Kenney, chairman of the Chicago Cubs.


"You talk to anybody dealing with schools, you talk to anyone dealing with the problem of gun violence in society," Daley said. "These are priorities. And I don't think [a Wrigley sale] is one of the priorities in Springfield."

A ballpark reconstruction project would require special permission from City Hall because Wrigley is an official landmark, and Daley clearly is reluctant to permit substantial changes.

The proposal to finance an upgrade of Wrigley Field comes after Gov. Rod Blagojevich and state lawmakers have failed repeatedly to reach agreement on a broad-based, multibillion-dollar public works program to build schools, roads, bridges and other major public works projects.


"At a time when the state is not paying its bills, it's hard to imagine taking on greater debt and acquiring a highly successful business," said Patty Schuh, spokeswoman for Senate Minority Leader Frank Watson (R-Greenville).