It was recently reported that Sam Zell, Tribune Company Chairman, has rejected the IFSA offer to buy Wrigley Field that was being spearheaded by former IL Governor Jim Thompson.
The report claims that Thompson's no-tax purchase deal would have relied heavily on equity seat rights. Zell and his advisors believe the plan to be in violation of MLB rules (no surprise that Thompson would go that route).
Zell allegedly wants to sell the ballpark in a package deal with the team, something that early rumors indicated he wasn't going to do. Watchers such as myself thought you would get the most value from the whole basket, rather than hoping some prospective owner would want to jump in head first with a team whose ballpark is under the control of a group like the IFSA.
The Cubs are shooting to have their used ballclub sales brochure to the market in a few weeks. It sure seems like they are dragging on this, but given the jumble over at Trib Co lately, it's not unreasonable that this be going slowly.
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