Cubs sale completed
Pending court and MLB ownership approval, the Chicago Cubs will soon belong to the Ricketts family, who spent 845 million for the privilege. It's been a long time in coming.
Back when the team's sale was first announced, many of us had hoped it would be a guy like Mark Cuban who would step up and buy the team. Cuban is the sort who would put product before profit, and while he probably wouldn't go into the red to win he would almost certainly spend more than most.
Still, Tom Ricketts is a Cubs fan. There's no doubt that he wants his new team to break the drought, although he's going to have a very, very long process ahead of him. In the next few years he's going to have to deal with some big, untradeable contracts, a crumbling ballpark, and a fanbase that continues to grow more alienated. Or he could just wait two years and sell the team again and probably make a cool 200 million dollar profit -- the downturned economy may have delayed the family's purchase of the team, but it also aided them in buying the Cubs at a relatively big discount.
Regardless of his plans, we're all still probably a little concerned about what Tom Ricketts will do next. It seems doubtful that a guy who was barely able to scrounge up the money to buy the team will be able to grow -- or even maintain -- the third largest team payroll in baseball.
Hopefully his next move will be to answer those issues, to calm us in the face of concerns, and his public silence should soon be broken.