Zell says he won't hesitate to sell Wrigley Field naming rights
TRIB CEO | Fires back at critics of plan to peddle ballpark to state agency
February 27, 2008
BY FRAN SPIELMAN City Hall Reporter/fspielman@suntimes.com
Tribune Co. CEO Sam Zell said Tuesday he won't hesitate to sell the naming rights to Wrigley Field -- even if baseball purists don't like the idea.
"Wrigley is an obvious world-wide icon and Wrigley Field is world-wide known. But, in the world of economics, when I bought the Tribune, I didn't get a discount because I wasn't going to use the naming rights that field represents," Zell said in an interview on the CNBC program "Squawk Box."
"Perhaps the Wrigley Co. will decide that, after getting it for free for so long, that it's time to pay for it."
Zell said he plans to sell the Cubs and Wrigley separately and "on our own time frame." He also disclosed that Major League Baseball had already approved "four or six" potential ownership groups and that "any one of those groups, as far as I know, would be fine."
The sale of the team has been delayed by Zell's plan to sell the team and the stadium separately -- and to have a state agency acquire and renovate Wrigley.
That complex arrangement has prompted behind-the-scenes grumbling from some potential ownership groups. But Zell said he couldn't care less.
"Excuse me for being sarcastic, but the idea of a debate occurring over what I should do with my asset leaves me somewhat questioning the integrity of the debate. . . . There's a lot of people who would like to buy the Cubs and would like to buy the Cubs under their terms and conditions and, unfortunately, have to deal with me," Zell told a CNBC interviewer.
TRIB CEO | Fires back at critics of plan to peddle ballpark to state agency
February 27, 2008
BY FRAN SPIELMAN City Hall Reporter/fspielman@suntimes.com
Tribune Co. CEO Sam Zell said Tuesday he won't hesitate to sell the naming rights to Wrigley Field -- even if baseball purists don't like the idea.
"Wrigley is an obvious world-wide icon and Wrigley Field is world-wide known. But, in the world of economics, when I bought the Tribune, I didn't get a discount because I wasn't going to use the naming rights that field represents," Zell said in an interview on the CNBC program "Squawk Box."
"Perhaps the Wrigley Co. will decide that, after getting it for free for so long, that it's time to pay for it."
Zell said he plans to sell the Cubs and Wrigley separately and "on our own time frame." He also disclosed that Major League Baseball had already approved "four or six" potential ownership groups and that "any one of those groups, as far as I know, would be fine."
The sale of the team has been delayed by Zell's plan to sell the team and the stadium separately -- and to have a state agency acquire and renovate Wrigley.
That complex arrangement has prompted behind-the-scenes grumbling from some potential ownership groups. But Zell said he couldn't care less.
"Excuse me for being sarcastic, but the idea of a debate occurring over what I should do with my asset leaves me somewhat questioning the integrity of the debate. . . . There's a lot of people who would like to buy the Cubs and would like to buy the Cubs under their terms and conditions and, unfortunately, have to deal with me," Zell told a CNBC interviewer.
