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Who do we believe -- Radar Magazine or Mark Cuban? Radar reported on Wednesday that billionaire tech entrepeneur, blogger and owner of the Dallas Mavericks basketball team is preparing to make a $625 million bid for the Chicago Cubs. A source supposedly familiar with the situation claims, "Mark is desperate to buy the Cubs. He wants this so bad."
However, Cuban's response to the Trib via email stated that the rumor was "not true."
In the past, Cuban has expressed interest in owning the Cubs. As recently as February 9, he mentioned that he might have interest in pursuing additional sports franchises.
During an interview with TheStreet.com, Cuban said in response to a question about his interest in the Cubs:
I'm always interested in iconic teams or teams from my hometown [Pittsburgh], but it's a "nice to do," not a "have to do."
So we don't know whether Cuban is actually planning a bid for the Cubs and playing coy, or whether there are no current plans to inquire about the Cubs. But we do know that he has expressed interest in the past, and the Trib remains in financial trouble.
More importantly, Cuban is clearly no idiot when it comes to business. Just as Ted Turner used the Atlanta Braves to grow TBS in the '80's, Cuban could use the Cubs' game broadcasts for content on his HDNet High Def cable channels. A little more compelling content than NHL hockey, we'd say... and it would probably be the best thing that could happen to the Cubs. And the boost in value of HDNet with Cubs games on the channel would certainly help explain a bid that is so much higher than Forbes $448 estimated value for the team.
The Cubs are getting awfully close to the century mark since their last World Series title, but if Cuban could turn around the moribund Mavs then he's probably the Cubs' best hope for reaching the World Series sometime in any of our lifetimes.
Image via CNN/SI
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A little more compelling content than NHL hockey
What's your beef with hockey? The Blackhawks are one thing, but a blanket statement about the game?
Actually, part of what gives the Cubs such market value is their broad exposure on WGN. By popularity, they're ranked as third most-liked team in the country.
It'd still be a great financial move for Mark to take over the Cubs franchise, but disastrous to remove them from easy exposure.
Forbes says the Cubs are worth $448? Time to sell the stereo and scrounge between the couch cushions - oh, $448 million. I wonder why he'd make an offer that's drastically above supposed market value like that. The Trib you'd think would be desperate to sell to shore up their floundering empire - low balling motivated sellers, especially if the buyer (Cuban) is in no rush to buy, makes more sense. $625m makes no sense, especially now they're not a winning team - yet.
What made the Cubs a national brand was being on WGN when it became a super station. Take them from easy view and wide exposure, and you stop selling Cubbie stuff in non Chicago places, I'd think. I used to love hockey as a little kid (the Hawks on WGN, the weekend national games on NBC), but once hockey disappeared off of free TV, I forgot about the game.