Archive for the ‘biz of baseball’ Category

Inland makes offer for Wrigley, not Cubs

Thursday, July 17th, 2008

The Score (WSCR radio Chicago) had it wrong.  During their sports news updates today, they were reporting Inland Real Estate of Oak Brook, a publicly traded REIT (NYSE symbol IRC) has reportedly made an offer of $300,000,000 to buy the Cubs.  Then they chuckled the offer was off by about $700k.  In fact, the Inland offer was aparently just for Wrigley Field, not the entire baseball franchise.

Crain’s Chicago Business Reports:

Inland bids for Wrigley Field: report
(Crain’s)
Inland Real Estate Group of Cos., an Oak Brook-based real estate investment firm, has submitted an offer to buy Wrigley Field, according to the Chicago Sun-Times.

Inland, one of the nation’s largest shopping-center owners, is believed to have offered close to $300 million for the North Side baseball stadium, the Sun-Times reported Thursday on its Web site.

Inland Vice-chairman Joseph Cosenza would not confirm the offer, but said, “I think anyone would want to own Wrigley Field,” according to the report.

http://www.chicagorealestatedaily.com/cgi-bin/news.pl?id=30238

Fukudome Jersey #1 - in sales too!

Thursday, April 24th, 2008

Fukudome fever is growing with each game.  Word is Sports Illustrated, the NY Times, and Washington post have assigned writers to profile the Cubs mysterious rookie outfielder. Now it seems its not just his uniform number is number one - he is also leading sales of Cubs replica jereseys too!  People not only want to support him, but I think they really appreciate his work ethic and plate discipline. He’s quiet, but proving to be a team leader by example.  

Kosuke Fukudome Chicago Cubs Home White/Royal MLB Replica Jersey

Honor the play of your favorite player in style with this 100% poly double knit Kosuke Fukudome Chicago Cubs Home White/Royal MLB Replica Jersey. Features authentic full chest team name applications in classic team font and displays full back player name and number in tackle twill. Majestic’s high quality production and attention to detail make this item an exceptional value. Officially licensed by MLB

Crane Kenney, Senior VP/General Counsel and Secretary

Friday, March 21st, 2008

Crane Kenney assumed responsibilty for the Cubs when the Tribune company was acquired and taken private by Sam Zell late last year. He is not as slick as his predecessor, Dennis FitzSimons and therefore has been taking shots in the media lately for floating his ideas to raise additional revenue for the franchise. In his defense, I understand Mr. Zell has challenged all Tribune entities to step back and re-examine all aspects of how to cut costs and increase revenue for their business units, the Cubs no exception. So Crane has auctioned off 71 new premium seats, in partnership with the CBOE (http://chicago.cubs.mlb.com/chc/ticketing/season_auctions.jsp). He has been floating the balloon of naming rights for Wrigley which has been met with a ton of negative reaction from fans and media. He has been evaluating additional advertising revenue streams and frankly, I wouldn’t be surprised if he tried to sell Nascar-like sponsorship on the grounds crew uniforms.  Everything is in play in Cubland.

I’ve had the great fortune to sit in some of those premium (first three rows from the field) seats at Wrigley a few times. Each time I sat close enough to spit on (not that I would) Cubs executives such as Dennis FitzSimons, John McDonough, and Crane Kenney.  I will tell you this about both FitzSimons and Kenney: they are absolutely fans of the team. I personally observed them in their seats for each game, beginning to end, paying attention to every pitch, high-fiving at Cubbie home runs, and in fact, standing for the entire half of the bottom of the 9th inning with the Cubs down by more than a few but with a runner on and barely a prayer to win the game. They were clappping and cheering with the masses and visably dismayed when the Cubs eventually lost the game. They are fans, no doubt. Here is a photo I took last September of Crane Kenney and wife:

 Crane Kenney and wife at beautiful Wrigley Field 

I was so impressed by what I witness from the highest Cubs brass, I found the email address of Dennis FitzSimons, then CEO of Tribune Corp, and told him what I thought. He wrote back the same day saying we needed to get our offense going and thanks for being a great Cub fan. This is from the CEO of a publicly-held company!  Impressive. So I sent him another email last fall when the Cubs made the playoffs. I just said congratulations on October Cubs baseball.  He replied (again, same day) saying “thanks, on the way to Arizona (Cubs played the AZ Diamondbacks). Let’s get 11 more (wins)!” 

So back to Crane.  He is a dead ringer for character actor James Cromwell, only younger.  You agree? Check out these pics:

Cromwell:  James Cromwell

Kenney:  Crane Kenney

 


Field of Schemes

Thursday, March 20th, 2008

This book might be a very interesting and timely read in light of the plan being floated for the state of Illinois to purchase Wrigley Field…

Field of Schemes: How the Great Stadium Swindle Turns Public Money into Private Profit