Cuban Talks About Buying the Cubs
CNBC Sports Business Reporter
Cubs fans can officially start salivating. Although he shot down a report that he was buying the Cubs for $625 in February, Mark Cuban is not out as a potential bidder for the Chicago Cubs. Cuban told Mad Money's Jim Cramer on Wednesday night's show that it was "too early to tell" if he would take part in the end of the season auction for one of baseball's most storied franchises. Cuban added that he would talk "if they want to come to me after the baseball season."
Here's what I think it would take for Cuban to buy the Cubs.
1. He'd have to sell the Dallas Mavericks.
Cuban is totally immersed in the Mavs. Although he has enough money to have both teams,
and the baseball season and the basketball season only have about 2 1/2 months in common, I've always read him as the kind of person who believes he can only concentrate on one. Will he be willing to give up the Mavericks? I'm not sure. But Cubs fans should pray that the team makes it to the finals again and gets thumped. I don't see him getting out after winning a championship even though he could probably make more money that way.
2. He'd have to get the Cubs and Wrigley Field for under $600 million.
People read Cuban as a guy who will throw any amount of money around. That's not really true. He does what he does for his players, but he is still a businessman. Cuban bought the Mavericks in 2000 for $280 million. Now, according to Forbes, they are the third most valuable franchise at $463 million, behind the New York Knicks and the Los Angeles Lakers. Past $600 million, Cuban would never be able to make sense of the Cubs given the small ballpark and his lack of ability to trick it out with luxury suites due to its landmark status.
3. He'd have to get a pass into Club Selig.
Remember, new ownership requires approval, and approval isn't always the highest bidder. It's who the owners might like. While I think Cuban is a genius, he's definitely a free thinker and speaker, and I'm not sure the boys club would really want that.
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