More on Sale... and Will Cubs Make a Move?

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Bruce Levine had this on his blog at ESPNCHICAGO.com:

"Major League Baseball sources confirm that the sale would actually be only $850 million in cash, since Tribune owner Sam Zell will keep 5-7 percent ownership in the team in order to avoid a huge tax bite because of capital gains taxes. Zell will put most of the money that he realizes in the sale toward his debt of $8.1 billion that he paid for the Tribune Company, now in Chapter 11 receivership."

"The Ricketts family borrowed $450 million from three major banks: JP Morgan, Bank of America and Citicorp. The rate of the financing will be between 5 and 6 percent annually; that means that the Cubs' new owners must come up with $25-30 million per year just to pay financing on the loan. An impeccable major league source told me that the Cubs netted $45 million in 2008. New revenue sources, including personal seat licensing (PSLs) will be a part of the aggressive way the new owners will look for more cash."

Other Notes:

Pinella said that Reed Johnson will lead off against left handed pitchers.

Sources: Jim Hendry only has about 3 million dollars to make a move before the deadline. He had this to say:

"I like the team that we have, i don't really see us doing much."

Sorry but your wrong, you need a second baseman because Fontenot is averaging 0-1 hit a game and a 1-2 strikeouts a game. Also you need a relief pitchers that can throw strikes and get a out.

You can find a 2B on the trade deadline for 3 million or a little over. You can also match the salaries of the players to make it even.

Lets see what happens in the next 2-3 weeks.