Like us on Facebook


Follow us on Twitter





Page 1 of 4 123 ... LastLast
Results 1 to 15 of 54
  1. #1
    Join Date
    Jan 2006
    Location
    North Suburbs Of Chicago
    Posts
    9,001
    vCash
    1500

    Cubs Officially Opt out of WGN contract after 2014

    The Chicago Cubs have exercised an option to get out of their broadcast contract with WGN-TV after the 2014 season, sources close to the situation said Wednesday.

    On Tuesday, the team notified the Tribune Co.-owned station it had 30 days to meet a higher assessed fair market value for the broadcast rights, or they would be opened up for negotiation with other media. A third-party consultant hired by the Cubs and WGN-TV determined the increased valuation, according to sources.

    After 30 days, the team would be free to explore other broadcast options for about 70 games televised each season by WGN, opening the door to a potentially more lucrative contract or perhaps its own cable sports network.

    The Cubs and WGN-TV have a broadcast partnership that dates to 1948. With baseball rights fees soaring, there is much at stake for both. In January, the Los Angeles Dodgers launched their own cable sports network, striking a deal with Time Warner Cable that will pay the team a reported $7 billion to broadcast its games over 25 years.

    Currently, Cubs games are split between Comcast SportsNet Chicago and WGN-TV, netting the club about $60 million in annual broadcast rights fees combined, according to sources. The CSN deal runs through 2019 and includes the White Sox, Bulls and Blackhawks as partners. Comcast owns about 30 percent of the network.

    The Cubs get about $20 million to air 70 games each year on WGN. If the team didn’t give notice to opt out at this point in the contract, the deal would run through 2022 at the current rate, and the Cubs would lose any leverage for renegotiating the broadcast rights, according to sources.

    The Ricketts family inherited the broadcast agreements as part of their 2009 purchase of the Cubs from Tribune Co., owner of the Chicago Tribune and WGN-TV. The $845 million deal — then the highest in Major League Baseball history — included Wrigley Field and a 25 percent stake in Comcast SportsNet Chicago.

















    http://www.chicagotribune.com/busine...,2270840.story
    Last edited by ABE32; 11-06-2013 at 12:41 PM. Reason: Link
    BUTTERFLIES AND RAINBOWS!!!!! JP611 Just called me an ecstasy user!!!! WTF!!!

    Welcome Tyler Kolek or Brady Aiken or Carlos Rodon if not one of them say hello To Alex Jackson.

  2. #2
    Join Date
    Jan 2005
    Posts
    2,977
    vCash
    1500
    Would love to know what this "higher assessed fair market value" that WGN has the option on is.

  3. #3
    Join Date
    Nov 2005
    Location
    Milwaukee
    Posts
    6,116
    vCash
    1500
    Awesome. This was expected but still great to see the organization taking an actual step forward on the horrendous television contracts. Make it rain.

  4. #4
    Join Date
    Jan 2005
    Posts
    2,977
    vCash
    1500
    Jeebus. Just did the math on that Dodgers deal. Average of $280MM a year.

  5. #5
    Join Date
    Nov 2005
    Location
    Milwaukee
    Posts
    6,116
    vCash
    1500
    Wondering if fair market valuation takes into consideration teams with their own networks. Also wondering if WGN agrees to whatever this valuation is, how long are the Cubs obligated to stay locked in this contract? The Cubs need their own network. Period.

  6. #6
    Join Date
    Jun 2007
    Location
    AZ
    Posts
    7,376
    vCash
    1500
    The 12 year old version of myself would be upset.

    This is good. More money.

    For comic relief:
    https://twitter.com/NotTomRicketts
    Last edited by NORTH10; 11-06-2013 at 01:20 PM.

  7. #7
    Join Date
    May 2006
    Posts
    5,105
    vCash
    1400
    Smart move. Puts the ball in WGN's court, probably won't get what they could on open market, but still more than the fishy deal the Trib company drew up before selling the team. The real big money will come when that Comcast deal ends.

  8. #8
    Join Date
    May 2012
    Posts
    17,441
    vCash
    1500
    Suddenly Sosa lol

  9. #9
    Join Date
    Jun 2007
    Location
    AZ
    Posts
    7,376
    vCash
    1500
    Quote Originally Posted by SenorGato View Post
    Suddenly Sosa lol
    "Lost."

    So, so good.

  10. #10
    Join Date
    Dec 2008
    Location
    Kansas City, MO
    Posts
    1,982
    vCash
    1500
    "The Amazing Race to a Protected Draft Pick" hahaha
    The Future...
    Is Bright!!

  11. #11
    Join Date
    Dec 2009
    Location
    Detroit
    Posts
    3,721
    vCash
    1500
    WGN was good for the Cubs when it was giving their games a level of national exposure few teams got, but at this point in time just show me the gotdayum money.

  12. #12
    Join Date
    Dec 2008
    Location
    Kansas City, MO
    Posts
    1,982
    vCash
    1500
    #CubsNetworkShows is now trending on Twitter hahahaha
    The Future...
    Is Bright!!

  13. #13
    Join Date
    Dec 2008
    Location
    Kansas City, MO
    Posts
    1,982
    vCash
    1500
    The only decent one I could come up with was "Hee-seop Choi Meets World" my favorite so far is "Unimpressive Development"
    The Future...
    Is Bright!!

  14. #14
    Join Date
    Nov 2006
    Posts
    14,401
    vCash
    1500

    Cubs Officially Opt out of WGN contract after 2014

    The Cubs have an agreement with Comcast Sportsnet until '19 at least right?

  15. #15
    Join Date
    Jun 2007
    Posts
    1,818
    vCash
    1500
    Quote Originally Posted by sager729 View Post
    The Cubs have an agreement with Comcast Sportsnet until '19 at least right?
    Yeah. I'm hoping we have the ability to opt-out or buy out that contract before 2019. But I'm not optimistic. I don't want this TV bubble to burst (if there is a bubble) before we can get a huge deal. And waiting another five years is scary. The 70 some odd games right now should help.

Page 1 of 4 123 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •