Entries tagged "MLB"

Dykstra auctions World Series ring, trophy

Poor Lenny Dysktra. His bankruptcy has led to the auctioning off of his memorabilia including his 1986 World Series ring and trophy.

Will the Cubs get tagged out by bankruptcy?

The long and winding auction for the Chicago Cubs could be headed into the dugout.

NY Mets next error could be junk debt

The Mets have been bumbling off the field with its latest error a possible Moody's downgrade to junk of bonds sold in 2006 to finance the club's new Citi Field.

Stars, Rangers latest teams for sale

Financier Tom Hicks' announcement about plans to sell stakes in his sports franchises caps off a busy week in team auctions.

Kucinich to Citi: Stop advertising

Citigroup may buckle to political pressure and cancel its advertising agreement with the New York Mets, but is $250,000 a game really an excessive advertising cost?

N.Y. Mets still standing after Madoff steal

The New York Post reported Thursday that Fred Wilpon lost as much as $500 million in Bernard Madoff's $50 billion Ponzi scheme. But New York Mets fans can rest assured that despite Wilpon and co-owner Saul Katz confirmed losses from investments in Madoff's fund, it is one mistake that won't impact their Major League Baseball team.  ...

Economy may give Cubs bidders indigestion

The Chicago Tribune reported on Tuesday that revised bids, including financing details for Major League Baseball's Chicago Cubs, are due before Thanksgiving. However, if the potential buyers are unable to secure financing in a period where bankers have been very picky about lending, the once highly anticipated auction will turn into anything but a holiday feast....

Mark Cuban fits baseball's mold

With the leading $1.3 billion bid in the Tribune Co.'s auction of the Chicago Cubs, Mark Cuban, the owner of the NBA's Dallas Mavericks, could become the newest member of an elite fraternity, Major League Baseball's owners group. And although some of the recent members may be unaccustomed to Cuban's antics that have generated controversy and fines, he'd certainly fit the mold of MLB owners of the past. ...

Chicago Cubs auction: Canning strikes out, but may remain in line up

Some bidders for the Tribune Co.'s Chicago Cubs reportedly struck out as the bidding for the baseball team enters a second inning. Dealmaker John Canning of Madison Dearborn Partners, who was widely seen as a front-runner, may no longer be in the game because his bidding allegedly fell short, according to an article in the Chicago Tribune. However, Canning wasn't alone. Don Levin, owner of minor league hockey team the Chicago Wolves, also may have struck out, according to the article. Bids are expected to be over $1 billion for the Cubs, Wrigley Field and a stake in Comcast SportsNet....

Citi Field's naming rights in question, why not BofA's?

The New York Times shed some ink on beleaguered Citigroup Inc.'s naming of the Mets' new stadium, Citi Field, and the $20 million a year it will pay over 20 years to adorn its name on the Queens, N.Y., venue. But why only question the Citi deal?...

Dealmakers tackle sports teams

With a stake in the Pittsburgh Steelers possibly up for sale, yet another storied sporting franchise may find itself with an owner from the private capital community, as dealmakers from private equity and hedge funds use their fortunes to buy the sports teams they love....

Celtics owner on a road trip

So what do you do after winning the NBA finals? If you answered "go to Disney World, of course," then you aren't a dealmaker. Boston Celtics general partner Wyc Grousebec -- earlier this month seen on ABC holding the NBA's Larry O'Brien Championship Trophy over his head -- instead is reportedly going on a road trip for a new $200 million fund that would invest in sports-related ventures, according to The Boston Globe....

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