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Cubs' Tom Ricketts: "That's Theo's money"

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Don Tiny

Post subject: Cubs' Tom Ricketts: "That's Theo's money"

Posted: Fri Nov 07, 2014 12:17 pm

Joined: Thu May 28, 2009 11:10 am
Posts: 42094
Location: Rock Ridge (splendid!)
pizza_Place: Charlie Fox's / Paisano's

http://www.chicagotribune.com/sports/baseball/cubs/chi-tom-ricketts-gives-theo-epstein-spending-money-20141106-story.html

Clearing nearly $41 million from last season’s player payroll, coupled with a lucrative television contract on the horizon, points to an aggressive shopping spree for the Chicago Cubs.

And owner Tom Ricketts stated that available money will be used at the discretion of Theo Epstein, the Cubs’ president of baseball operations.

“First, I don’t consider it my money,” Ricketts said Thursday on "The Mully and Hanley Show" on WSCR-AM (670). “I consider it, that’s Theo’s money.’’

Ricketts shared the traditional formula of expenses subtracted from the team’s revenue equals the baseball department’s budget. And there’s plenty of money to spend.

“We do have a lot of dry powder, and (Epstein) has a lot of flexibility this offseason. If there’s a free agent that comes up that makes sense, I’m sure he’ll be aggressive in trying to get there.

“But obviously the problem is there are 29 other teams that would like to have new starting pitchers. There’s always that factor, and you have to be rational while you’re being aggressive.’’

The Cubs are expected to move quickly in the free-agent market as they consider impact pitchers Jon Lester, Max Scherzer and James Shields and catcher Russell Martin.

Although the Cubs don’t have a television package to cover the games once telecast by WGN-TV, Ricketts believes the financial landscape will change with the next TV deal.

“The next big financial change to the Cubs will be the new television contract,” Ricketts said. “What you’ve seen in baseball over the past handful of years is that the teams that are most aggressive in signing free agents or teams that are spending more are teams that have recently renewed their television deals.”

Ricketts didn’t say when a TV deal would be finalized, only stating that the Cubs continue to have “good conversations” and “a lot of flexibility and a lot of potential partners.”

“All I do know the Cubs, despite the ratings dip that occurred through the past few years because our teams haven’t been competitive, have been a very desirable programming asset,” Ricketts said.

In response to a recent report by Crain’s Chicago that the Cubs were worth $2 billion, Ricketts acknowledged that the value of the Cubs has increased. But he added that the value of professional sports teams have increased dramatically because of media rights.

With construction of the Wrigley Field bleachers already one month completed, Ricketts didn’t seem overly concerned over the battle with the rooftop owners.

“I wouldn’t characterize it as done,” Ricketts said. “And at this point, I’m not sure I’d characterize it as a fight.”

Nor did Ricketts see any issues regarding talk of an extension with Epstein, whom he praised with his work and has two years left on his current contract. A four-year extension would put Epstein in line with new manager Joe Maddon and Crane Kenney, the Cubs’ President of Business Operations, whom each are signed through 2019.

“When (Epstein) is ready to talk about an extension, we’ll be ready to talk about an extension,” Ricketts said.“

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Curious Hair

Post subject: Re: Cubs' Tom Ricketts: "That's Theo's money"

Posted: Fri Nov 07, 2014 12:33 pm

Joined: Thu Nov 16, 2006 6:29 pm
Posts: 55844
pizza_Place: Barstool One Bite Frozen

Theo: It's not my money, but I have that money.

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Molly Lambert wrote:

The future holds the possibility to be great or terrible, and since it has not yet occurred it remains simultaneously both.

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Don Tiny

Post subject: Re: Cubs' Tom Ricketts: "That's Theo's money"

Posted: Fri Nov 07, 2014 12:36 pm

Joined: Thu May 28, 2009 11:10 am
Posts: 42094
Location: Rock Ridge (splendid!)
pizza_Place: Charlie Fox's / Paisano's

Curious Hair wrote:

Theo: It's not my money, but I have that money.

I couldn't get the Jauron thing to work and figured better wordsmiths would be able to pick up the slack; thank you.

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Power is always in the hands of the masses of men. What oppresses the masses is their own ignorance, their own short-sighted selfishness.
- Henry George

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good dolphin

Post subject: Re: Cubs' Tom Ricketts: "That's Theo's money"

Posted: Fri Nov 07, 2014 12:52 pm

Joined: Thu Feb 17, 2005 2:35 pm
Posts: 82152

His lender is sitting at his bank right now thinking "the fuck it is".

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O judgment! Thou art fled to brutish beasts,
And men have lost their reason.

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THE INQUISITOR

Post subject: Re: Cubs' Tom Ricketts: "That's Theo's money"

Posted: Fri Nov 07, 2014 1:37 pm

Joined: Sat Feb 19, 2005 7:40 am
Posts: 1553
Location: Long Grove,IL
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good dolphin wrote:

His lender is sitting at his bank right now thinking "the fuck it is".

Joe doesn't sit at a bank but he does have a BIG comfy chair in his T.D. Ameritrade office.

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Frank Coztansa wrote:

I don't waste my time with the Cubs.

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Dr. Kenneth Noisewater

Post subject: Re: Cubs' Tom Ricketts: "That's Theo's money"

Posted: Fri Nov 07, 2014 1:51 pm

Joined: Fri Oct 20, 2006 9:15 pm
Posts: 48800
Location: Bohemian Club Annual World Power Consolidation Conference & Golf Outing
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good dolphin wrote:

His lender is sitting at his bank right now thinking "the fuck it is".

That's the truth.

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You know me like that.

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denisdman

Post subject: Re: Cubs' Tom Ricketts: "That's Theo's money"

Posted: Fri Nov 07, 2014 1:55 pm

Joined: Thu Jun 22, 2006 3:55 pm
Posts: 33067
Location: Wrigley
pizza_Place: Warren Buffet of Cock

Many said the money saved (cut) from the payroll the last few years would flow to the Ricketts' pockets. However, these comments appear to say that the saved money is banked for baseball operations.

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One Post

Post subject: Re: Cubs' Tom Ricketts: "That's Theo's money"

Posted: Fri Nov 07, 2014 7:35 pm

Joined: Fri Oct 24, 2008 10:28 am
Posts: 4034

denisdman wrote:

Many said the money saved (cut) from the payroll the last few years would flow to the Ricketts' pockets. However, these comments appear to say that the saved money is banked for baseball operations.

Denis - do you know that gullible is not defined in the dictionary?

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Apologist

Post subject: Re: Cubs' Tom Ricketts: "That's Theo's money"

Posted: Fri Nov 07, 2014 9:45 pm

Joined: Wed Mar 26, 2008 3:23 pm
Posts: 7415
Location: Liquor in the front, Poker in the rear
pizza_Place: Lou's, Pequod's

I know his dad has big money, but aren't they still going to be technically servicing the debt from acquiring the team for a while?

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America

Post subject: Re: Cubs' Tom Ricketts: "That's Theo's money"

Posted: Sat Nov 08, 2014 3:06 pm

Joined: Mon Aug 25, 2014 10:32 pm
Posts: 13865
Location: France
pizza_Place: Baranabyis

And if Theo spends that money he gets fired!

It's like giving someone a brand new Bentley with the ignition rigged to explosives. "Hey buddy! Free Bentley! But if you try to enjoy it you'll be toast!"

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Cubs' Tom Ricketts: "That's Theo's money"

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