is kwikmed legitimate claravis before and after colchicine side effects treatment mixing marijuana and cialis hydroxyzine side effects in dogs strattera reviews for children buy prednisolone online for pet rxcanadian mall alli 84 cheapest cialis bez recepta amermycin capsule viagra discounts from pfizer zincovit side effects ventolin side effects wikipedia caffeine withdrawal symptoms in newborns slimex capsules maxalt generic release date acheter viagra canada erlamycetin ointment definitionescitalopram tenormin dosage size clomid side effects in men fucidin cream antibiotic uses cialis canada free trial meprate dosage calculations capoten side effects dose no perscription pharmacy septrin suspension best canadian pharmacy to buy celebrex generika viagra order inderal from usa metformin for sale sominex sleep aid coupons zocor generic price propecia generico 1 mg does pregnenolone cause weight gain order premarin viagra no prescription xlpharmacy complaints against lawyers online pharmacy that takes amex where to buy pfizer viagra glucophage dosage information advantage sales and marketing reviews buy aciclovir tablets online xlpharmacy vip buy vardenafil 40 mg malaysia atlas rx cialis acyclovir medication dosage how to get pain pills online leponex 25mg fentanyl leconfield estate petworth paracetamol indication doseparafortan cipralex side effects hair loss buy prednisone dog how do ibuy aciclovir sucralfat rezeptfrei milnacipran generic drugs vitamin shoppe coupon 20 printable zestoretic 20 25 spiriva patient assistance form omnicef antibiotic for uti letrozole gynecomastia review epamin fenitoina valproic acid for sale buy priligy dapoxetine tablets online medrol dose pack side effects anxiety viagra meds online in australia niazagra online is betnovate good for acne plavix patient assistance program application sildegra 100mg zoloft sildenafil tablet 100mg suhagraat videos pharma plus canada blycolin groep t risnia syrup bottles sumycin dosage for melatonin morphine side effects hallucinations purchase alli online today shop alli pill zoloft and weight loss clenbuterol weight loss results pictures finpecia without a perscription benemid contraindications for ultrasound low cost no prescription flomax tylenol 3 information medameds medco prescriptions amoxcillin online pharmacy kosovarja gazeta shqiptare tirana chat linkedin zolpidem without rx overnight plavix patient assistance form aricept drug info what is ativan lorazepam side effects pastillas ovral 21 best cialis online cialis sears pharmacy tetracycline powder good for humans buy synthroid no prescription needed what is diclofenaco tiamina piridoxina cianocobalamina zyrtec coupons printable avelox 400mg moxifloxacin side effects canadian 80 cialis generic phenergan dm syrup drugs budesonide side effects medication and alcohol losartan potassium 25mg side effects doxine pharmacy propecia from canadian pharmacy avapro 300 mg tablet pilocarpine drug information cialis and ecuador actos and bladder cancer medazole 200mg caffeine buy xenical orlistat walgreens coupons printable hydroxyzine hcl 25mg side effects aspirin ingredients label restonite 10 mg caffeine and pregnancy studies tamoxifen citrate for men buspirone hcl 7.5mg indocin 25mg priceinsulin low price from china eriacta ramipril side effects medication omeprazole 40 mg capsule uses discount nexium 40mg bactrim ds side effects bloody stool viagra kaufen ohne rezept deutschland best rx life drugstore cowboys movie dostinex side effects cabergoline for dogs colchicine colcrys manufacturer paracetamol side effects drug espanol excite pills kamagrafast consumer where can i get chloroquine list legitimate online pharmacies ventolin dosage for infants stanozolol cycle results lidocaine viscous 2 msds obat arimidex arthritis treatment for hands kegunaan infatrim protonix vs nexium medicine viagra testen kostenlos mobicox 7 5mg hydrocodone diane sawyers husband flexidol relax prospector yasmine galenorn books in order gold vigra reviews indomethacin 50 mg for gout orderpharma reviews on vigrx medicstar online medicines from mexico lotemax 0.5 ophthalmic gel cialis best preis bestellen siriusxm viagra accutnae for sale zetia side effects zetia 10 mg nifedipine er 60 mg tablet diclofenac 75mg street value cyrux medicine wheel propecia kaufen salzarex manufacturer definition baristanet kids calendar printable fluconazole diflucan treatment best medicare online cialis mastercard cymbalta antidepressant drug meloxicam street value prostata objawy choroby how to buy diclofenac gel buying pills online lidocaine patch 5 discount coupons ornidazole dispersible tablets definition meclizine 12.5 mg tablets xatral 10mg medication arcoxia 120mg tablet dosage hydroxyzine hcl 25 mg tablet interactions betnovate scalp application 100ml retino ac gel how much does a viagra pill cost pilex cijena zyban wellbutrin difference vega 100 tablets use in urdu one dose diflucan and alcohol kamagra bestellen met visa tinidazole treatment for amoebiasis venlafaxine er 75mg what is it for viagra swiss zyvox 600 mg for free water pills gnc pilexil shampoo buying glyprin aspirin 81mg pergotime 50mg tramadol viagra super active 150mg what is the topamax dosage for weight loss avodart prostate medicine pricebaclofen cymbalta cambodia fucidin cream for cold sores ventolin with viagra instant viagrawithoutprescription cardura xl generic cefixime paypal purple pharmacy mexico alzytec medicine cabinets xenical reviews orlistat flovent inhaler 110mcg buy promethazine w codeine syrup prompt pill store can i get chlomid to buy in ghana accutane online approved onlain igri top 18 cytotec online without prescription do low cost viagara pills work low cost vardenafil buy online tadalafil pharmacy russia ketorolac injection package insert ventolin dosage in infants flomaxtra price is right amlodipine besylate 10mg side effects diltiazem hcl er phentermine information phentermine 37.5 clopidogrel mechanism of action images low cost viagra without perscription canadian online pharmacy fast delivery priligy portugal synthroid and weight gain dosetablete capoten contraindications for tpa clopidogrel bisulfate tabs misoprostol en costa rica slimex reviews cialis orlando for sale ketorolaco sublingual 30 mg albuterol inhaler side effects hfa medicinenet com doctorsmedicpillsmedicstar cholesterol medications atorvastatin zyrtec dosage for dogs allergies lamisil generic cost exelon stock lasix and potassium pills cheap kamagras from india buy diclofenac 50mg elifemeds reviews on vigrxenalapril haykakan nor filmer allegra versace anorexia 2014 olanzapine 10 mg twice daily or 20mg once daily cialis profesional cefalexina bulalo viagra pharmacist buy cialis canada best cialis order online is rxrelief card legitimate zanaflex side effects dose obat levofloxacin amoxil 875 mg cyclivex 200mg caffeine tretinoin gel over the counter ic morphine sulfate side effects cefadroxil and alcohol use buy dilaudid online prescription for oily skin tenormin 50 mg next day delivery brand viagra on line us pharmacy dose of famciclovir for shingles shop cialis online erexin ingredients for lasagna estrogen order on web ivermectin side effects in cats onlain tamashebi drift away meds on line no prescribtion duloxetine cymbalta cialis mexican pharmacy no imatation vilches s.a augmentin dosage pediatric online pharmacy india cytotec without prescriptions toradol 10mg street price bactrim antibiotic uses ketorolac tromethamine ophthalmic solution 0.5 subutex vs suboxone during pregnancy estrace cream uses phenamax reviews on fifty metrotab church chattanooga tn zip code regenon prospect in romana fentanyl transdermal patch brands valacyclovir overnight saroten 25mg sertraline adipex side effects for women diazepam 10mg information delay ejacula weight gain pills new covenant church trappe canadian pharmacy that takes mastercard i get penicillin from mexico lexapro vs celexa drug viagra in johannesburg diazepam 5mg information fluzol 200mg ibuprofen clobex shampoo side effects ampicillin 500mg capsules side effects omifin embarazo multiple real viagra pfizer buy levitra online flagyl on sale genuine branded pharmaceuticals on line ed drug store minocycline hydrochloride for dogs redustat orlistat 60 mg imiquimod cream 5 uses order vbigra by phone viagra cost per pill walmart tantalum long beach restaurant buy cipro in the united states asthma action plan template list pills get you high buy kamagra next day delivery provera to start periods tinidazole dosage for giardia advantage chevrolet bolingbrook coupons finasteride deutschland ddose pack canada pharmacey kemadrin injection sites bevispas tablets computers buy quetiapine viagra at discount prices lipitor recall 2012 viagra mississauga amantadine 100mg images viagra vs cialis side effects 24 h pharmacy pharmacie en ligne viagra obat motilium cozaar blood pressure losartan potassium famvir information can i take 2 unisom pills la marathon india drug pharmacy buying amoxicillin trihydrate 500mg where can i buy viagra using paypal garlic butter sauce for musselsgarrigue how to get free inhalers caffeine overdose symptoms headache antabuse alcoholism buylowdrugs canada sotalex 80 where to buy accutane hydroxyzine pamoate 25mg for dogs buy albendazoles 400 mg mex select viagra products etodolac 400 mg for dogs euthyrox 100 pret chemistry surf levitra 20 mg information sildenafil spray cipa approved sildenfil doxycycline dose for chlamydia buspar xanax drug cipa approved pharmacies tamsulosin and viagra advantage car rental coupons discount codes 1drugstore online complaints zovirax cream treatment over the counter isoniazid 300mg side effects buying cialis in kuala lumpur buy tretinoin uk cheapest us pharmacy for viagra reductil reviews dynamogen solution orale jersey forzest 20 tadalafil purple pharmacy viagra new york city fasigyn dosage rapidtabs viagra coupons euroclinix opinie fiskars percocet 5 325 information viagra probe kostenlos zyban information viagra 100mg price order femara revatio 20 mg side effect levitra 10mg minomycin 50mg demerol rogaine side effects does rogaine work dosage of revatio for erectile dysfunction jessicas pharmacy progreso mexico avana avanafil the goodrx appgrafazol overnight online pharmacy colegio fuenllana centrofuracin flagyl forte obat apa carbimazole 5mg side effects diovan hct side effects medication pregnant belly pics tamsulosin side effects women vitamin d deficiency what is betagesic tabletsbetaprofen suprax antibiotic for children vigrande 50 mg viagra generika deutschland actos pioglitazone hcl 15 mg triderm ointment indication domperidone or motilium tretinoin gel no prescription canada estrace cream generic equivalent buy contraception pill online in canada imitrex nasal spray dosage my canadian pharmacy reviews rimadyl rewards program 2012 birth defects with ondanstron antivert vertigo medication buying viagra online doha alli from usa depo provera and pregnancy symptoms remeron canada online supplies viagra femara infertility treatment vendita di viagra online what is feldene medication pfizer connection to care program cyclivex 200mg ibuprofen viagra online greece lantus insulin pen prescriptions without a script norlevo torrinomedica indices clozapine medication administration no rx meds liquid anastrozole bodybuilding neurontin pain relief female viagra without a doctor prescription doxepin hcl and weight gain where to buy cheap frusemide order cefixme coreg fpr cheap with no prescription viagra by mail canada norlevo side effects can i take ibuprofen with buspar biaxin antibiotic dose can i buy antivert over the counter como usar cytotec sleeping pills amazon india can you use cephalexin for sinus infection citalopram side effects weight gain lantus insulin side effects in cats clotrimazole cream for diaper rash propecia generic date 2012 camping noord holland order viagra gold online snorting buspirone to get high levlen ed and antibiotics length of levitra patent ampicilina 500 mg dosis antibiotics for tooth infection for sale magnesium citrate side effects cenveo envelope company pilex tablets hemorrhoids buy atarax no script cialis for daily use free trial buy clomiphene online 100mg cheap albuterol and viagra pharmacy technician letter prometrium 100mg capsules natural viagra recipe estrace cream coupon cheap soft viagra viagra kauf viagra vipps no prescription lexapro and alcohol side effects free forums brand cialis without prescription cockapoo puppies for sale in georgia zithromax versus levaquin for sinus infection oracef 250mg neurontin gabapentin half life antivert side effects elderly fluoxetine 10mg capsules side effects side effects of fertomid 100mg how to make pheromones to attract women what kind of doctor prescribes cialis himcolin cream female cialis prezzi bassi purchase viagra pe drugstore europa xenical over the counter cost uti 3 day antibiotic keppra 500mg for dogs with seizures pentrexyl dosage information where can i get ampicillin quickly tadacip 60mg ciprobay 500 mg side effects seroflo 500 multi haler back order on ritalin mometasone 0.1 topical solution buy lasix mexico levitra preis fucidin antibiotic for acne buy modafinil pakistan maxaman reviews on fifty dermasone betamethasone valerate lotion zoloft dosages minocin for acne reviews prozac uses and side effects in children bactroban unguento is indocin for gout dangerous to take
Home MLB News MLB Club Sales

Like Shoot to Thrill - An AC/DC Tribute on Facebook!

An authentic tribute of AC/DC that covers the best of the Bon Scott era and the best of Brian Johnson's material

Who's Online?

We have 404 guests online

Atom RSS

feed-image Feed Entries
MLB Club Sales
News and information about the sale of all or part of any of the 30 Major League Baseball clubs.

Debt Structure in Cubs Sale Has MLB Worried PDF Print E-mail
User Rating: / 14
PoorBest 
MLB Club Sales
Written by Maury Brown   
Wednesday, 10 September 2008 07:56

 


 

With Sam Zell and the Tribune Co. looking for a tax-avoidance deal with the sale of the Chicago Cubs, MLB is worried that the buyer will have to borrow extensively, thus saddling the club with too much debt.

MLB has a firm debt-prevention policy in place in the 60/40 rule (a club cannot carry debt 40% above the asset value), but a deal for the Cubs may have MLB owners looking even closer at the sale structure given the franchise's iconic stature within the game. A debt-loaded Cubs organization would place constraints on matters such as player payroll.

The problem for Sam Zell and Tribune is that an outright sale would mean paying taxes in excess of $400 million. Tribune purchased the Cubs in 1981 for $20.5 million. With the combined sale of the Cubs, Wrigley Field, and a 25 percent stake in ComcastSports Chicago, the price should easily exceed $1 billion. As reported by the Chicago Tribune, Zell will be looking to get creative with the deal.

Instead, he wants to create what's known as a leveraged partnership between the buyer and Tribune to own the team. The partnership would borrow money to buy the team, and the proceeds from the loans would go to Tribune. The media company would retain a small stake in the partnership, less than 5 percent, giving it some exposure to the loans.

Under the terms of a leveraged partnership, only borrowed money can be distributed tax-free. Consequently, in some of these deals as much as 90 percent of the purchase price is financed with debt to maximize the cash payout, Willens said.

"When you set up a structure like that, it's costly," said a source close to one of the five remaining bidders who asked to remain anonymous. "The more debt you put on it, the more expensive it is. The more leverage, the more scrutiny you get from baseball."

Because of the leveraged partnership arrangement, the deal is not considered a “sale” even if Tribune receives money up-front. In doing so, Tribune would avoid capital gains taxes. Any sale completed this way would, for purposes of taxation, then occur 10 years into the future, or 2018, if the deal is completed this year.

It will be interesting to see how the owners respond to a deal structured this way – a deal that won’t be known until the purchase agreement is completed. With the tax-avoidance structure, the potential for a Sam Zell vs. MLB showdown could be in the offing. Look for the sale to occur sometime shortly after the World Series and possible approval by the 30 owners sometime shortly thereafter.

MORE ON THE SALE OF THE CHICAGO CUBS


Maury Brown

Maury Brown is the Founder and President of the Business of Sports Network, which includes The Biz of Baseball, The Biz of Football, The Biz of Basketball and The Biz of Hockey. He is contributor to Baseball Prospectus, and is available as a freelance writer.

Brown's full bio is here. He looks forward to your comments via email and can be contacted through the Business of Sports Network.

Don't forget to register and log in on The Biz of Baseball site to get updates via your in-box, and see information only logged in members can see.

 

 
Final Bids on Cubs Sale Due Late Sept., Early Oct. PDF Print E-mail
MLB Club Sales
Written by Maury Brown   
Friday, 05 September 2008 13:56
Sale of the Cubs

The final bids for the purchase of the Chicago Cubs, Wrigley Field, and a twenty-five percent stake in ComcastSports Chicago will be due at the end of September, or early October, according to a report from Reuters. Beginning this week, management presentations from the Tribune Co. and the Cubs will be made to the finalists, further outlining the assets values of the three components in the deal.

Those presentations to the five bidding groups will take approximately 2 weeks to make.

The five groups include Thomas Ricketts, chief executive of Chicago investment bank Incapital LLC and son of the founder of TD Ameritrade Holding Corp; Internet billionaire Mark Cuban; Marc Utay, a managing partner with New York-based private equity firm Clarion Capital Partners LLC; and Chicago real estate executive Hersh Klaff.

As reported late last week, the group with former Nationals bidder Fred Malek and MVC Capital Inc Chairman Michael Tokarz is not part of the final five bidders. As reported by Reuters, groups are marrying up trying to solidify their positions:

Sports Properties Acquisition Corp, which had been linked to the Malek group, is now in talks to possibly join the Cuban or Klaff groups, said a fourth source.

Any final announcement, even if arrived at during the early part of October, would most likely not be announced until after the World Series. MLB is notorious for not wishing to upstage their premier event with any announcements that might distract from the postseason.

MORE ON THE SALE OF THE CHICAGO CUBS


Maury Brown

Maury Brown is the Founder and President of the Business of Sports Network, which includes The Biz of Baseball, The Biz of Football, The Biz of Basketball and The Biz of Hockey. He is contributor to Baseball Prospectus, and is available as a freelance writer.

Brown's full bio is here. He looks forward to your comments via email and can be contacted through the Business of Sports Network.

Don't forget to register and log in on The Biz of Baseball site to get updates via your in-box, and see information only logged in members can see.

 
Ricketts Up, Others Down in Bidding for Cubs PDF Print E-mail
User Rating: / 9
PoorBest 
MLB Club Sales
Written by Maury Brown   
Sunday, 31 August 2008 10:28

 

Thomas Ricketts' stock is on the rise, while two other bidders see their chances sinking in the on-going drama that is the sale of the Chicago Cubs, Wrigley Field, and a twenty-five percent stake in Comcast Sports Chicago.

With five approved bidders remaining, a marriage between two of the groups has already resulted in a divorce.

When a group led by Fred Malek, a Washington private equity investor, and Michael Tokarz, a New York businessman who is an Illinois native, was said to be joining the Sports Properties Acquisition Corp. (SPA) group, it was seen as a move to form a group that would have deep pockets and match MLB’s preferred ownership profile. Hall of Famer Henry Aaron and former Senator Jack Kemp are the figureheads of Sports Properties Acquisition. Now, both groups may be out of the running, although SPA looks ready to play the wild card. As reported by the Chicago Tribune:

Andrew Murstein, vice chairman of Sports Properties Acquisition, declined to comment on why the two bidders declined to team up. But with $216 million sitting in the bank, the company could make an attractive partner for another bidder, Murstein said.

"We consider ourselves a free agent and feel whichever group we join, if any, will be in a very good position to win," said Murstein, who runs a New York investment firm. He added that the company has been approached by three other bidders but declined to name them.

Malek, a former bidder for the Washington Nationals, and Tokarz could not be reached for comment.

Meanwhile, Thomas Ricketts' bid appears to be gaining steam. With deep pockets (his father, Joe, is the founder of Ameritrade), and strong family ties, the Ricketts bid fits MLB ownership mold (see the approval of the Lerner family for the Washington Nationals as a recent example).

Others in the mix for the Cubs include Dallas Mavericks owner, Mark Cuban, Chicago real estate executive Hersch Klaff, and a group led by New York private equity investors Marc Utay and Leo Hindery, Jr.

MORE ON THE SALE OF THE CHICAGO CUBS


Maury Brown

Maury Brown is the Founder and President of the Business of Sports Network, which includes The Biz of Baseball, The Biz of Football, The Biz of Basketball and The Biz of Hockey. He is contributor to Baseball Prospectus, and is available as a freelance writer.

Brown's full bio is here. He looks forward to your comments via email and can be contacted through the Business of Sports Network.

Don't forget to register and log in on The Biz of Baseball site to get updates via your in-box, and see information only logged in members can see.

 
«StartPrev111213141516171819NextEnd»

Page 19 of 19
 
Banner

Poll

Should MLB Force Jeffery Loria to Sell the Marlins?