As if Carlos Zambrano needed more pressure | Bleader

Monday, June 23, 2008

As if Carlos Zambrano needed more pressure

Posted By on 06.23.08 at 02:01 PM

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Could Sam Zell's need for immediate capital turn the Cubs into the Florida Marlins North? It would be irresponsible not to speculate....

"To entice real estate investors to bid on Wrigley, Mr. Zell estimates an owner of the park can charge the Cubs $25 million a year, a sum considerably higher than rents for comparable teams.... Some analysts have pegged the price of the Cubs, the park and related assets at $1 billion — money the Tribune desperately needs in the face of looming debt payments and declining newspaper revenue. But the pricey rent would be a burden on any new owner, who might struggle to keep up with payroll and other operating costs."

To put things in context, a credit analyst quoted by Forbes puts the amount the Tribune Company will have to pay in debt + interest in 2009 at $4 billion.

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