Posted by
Ed Lilly on Tuesday, February 26, 2008 2:04:02 PM
From Bloomberg News:
Sam Zell, chairman of Equity Group
Investments LLC, told CNBC he plans to sell the Chicago Cubs
Major League Baseball team on his ``time frame.''
The real estate billionaire told the financial news
network he's worked on a structure in which Wrigley Field
stadium would be separated from the team.
``We think that's best for us, we think that's best for
any owner, and most important of all, we think it's best for
the city of Chicago,'' Zell said.
First, a very minor nit, I don't think I've ever seen reference to "Wrigley Field stadium," but I could be wrong. My understanding is that it's "Wrigley Field" period, full stop. Or, in the parlance of the faithful, just "Wrigley."
More substantively, I think what this will mean is that at some point in my lifetime the Cubs will either leave Wrigley, tear it down to make a new facility, or perform some hideous "renovation" as was done to Soldier Field.
Once you have the ownership of the baseball team itself separated from the ownership of Wrigley, the tensions between their competing interests will see to it that disaster will result in the worst possible outcome for Cub fans.
Granted, the Tribune Company already took a huge step in ruining the place when they put in permanent lights, giving us another Day that Lives in Infamy, 8/8/88, so combined ownership interests are not a guarantee that problems won't arise. Look at New York and the upheaval of tearing down the renovated Yankee Stadium to build a new park across the street.
But a complete separation of team and stadium ownership will only lead to battles over leases, amenities, rights, etc. that will eventually end up ruining everything. I better make plans to get my kids there this summer so they'll be able to say they saw it when...