Your NPR news source

Is Cubs Offer Too High?

SHARE Is Cubs Offer Too High?
Is Cubs Offer Too High?

(AP File)

And then there was one.

The Billionaire Ricketts family has been chosen as the lone finalist in the sweepstakes to buy the Chicago Cubs. The Ricketts will now enter exclusive talks with the Tribune Company in an effort to close the deal.

The Ricketts’ bid for the Cubs, Wrigley Field, and a 25% stake in Comcast SportsNet comes in at $900 Million. Last year, Forbes Magazine valued the team and stadium at a combined $642 Million.

So are the Ricketts offering too much?

Kurt Badenhausen is an associate editor at Forbes.

BADENHAUSEN: No I don’t think $900 Million is too much at all, because in addition to the Cubs you’re also talking about a 25% stake in a regional sports network. That 25 % stake is very lucrative.

Badenhausen says the Cubs’ loyal fan-base and history makes them a “home run” for potential buyers, especially in tough economic times. But he says the tightening credit market probably knocked off a couple hundred million dollars off the purchase price. Earlier offers were reportedly over $1 Billion.

Unfiltered: Badenhausen discusses the Cubs sale with Ammad Omar.
Related: Forbes 2008 MLB Team Values
Related: Cuban blogs about losing bid

The Latest