Come to Think of It: Assessing the Impact of Tom Ricketts or Marc Utay for Cubs

Updated on July 7, at 3pm CT

Just when we thought we had a new owner, now comes word that the ongoing saga of "Let's make a Cubs deal" has a new angle.

According to Crain's Chicago Business, the Tribune has reached a tentative deal with a second buyer for the Cubs.

The second bidders are a group led by private equity investor Marc Utay. The report says that the Tribune Company will present both this, as well as the Ricketts family proposal to the bankruptcy court.

"We have not reached an agreement on terms with either party," Tribune spokesman Gary Weitman said.

Utay apparently has less cash upfront but his total offer is larger than the Ricketts proposal.

This stinks of a shakedown of the Ricketts family by Tribune owner and resident sleazebag Sam Zell.

Prior to this updated news, it had been reported that the Tribune Co. reached a deal to sell the Chicago Cubs and Wrigley Field to the Ricketts family, according to ESPN Chicago.

It had been previously reported that the two sides had reached a sale agreement over the weekend and had forwarded the contract to Major League Baseball, according to the report.

Now, it appears the Tribune will forward both offers to the court, with one recommendation.

The deal must be approved by other baseball owners. With Tribune Co. operating under Chapter 11 bankruptcy, the sale also will need court approval.

Well, once the Ricketts or Utay era starts for our Cubbies, what will this mean for the ballclub?

Well, in the short term, probably nothing.

While both are businessmen, one would think that this is simply an unemotional investment for Utay, while Ricketts seems to have some genuine love for the Cubs.

Whether that love translates into anything better for the team is up for debate, however. Either way, this may take some time to finalize.

When the Tribune first purchased the Cubs in 1981, it took two and a half months to finish the deal. While ownership approval will likely be a formality, the whole bankruptcy thing could slow things down just a bit.

And, after dropping about $900 million in a bad economy on the team, don’t expect either group to be major buyers at the trade deadline even in the unlikely event that the sale is completed by then.

The Cubs have been a major success both on and off the field in recent years. Well, except for the playoffs.

But with the team drawing huge crowds every day, and the Cubs saddled with a $140 million payroll, it is very unlikely that either group will give Jim Hendry a blank check to operate with.

So the real questions start with the upcoming offseason. Once the ownership is settled, the first issue will be whether the Hendry/Piniella team will continue its run.

On the one hand, Hendry’s teams have won two division titles (and hopefully three by then). On the other hand, he has left the team handcuffed with long-term salaries that allow for little flexibility.

If the court chooses Ricketts, he is a long-time fan who apparently got engaged at Wrigley Field. So, the romance of Ryne Sandberg as manager must be compelling theatre to him.

As for what either group will spend, remember that even Mark Cuban, who many Cubs fans strongly desired to be the team’s next owner, said in his blog that he wouldn’t spend outrageously if he owned the Cubbies.

Look, Tom Ricketts may be a Cubs fan, but he is a businessman, first and foremost. And he didn’t get to where he is by making foolish business decisions.

Sure, we’d all love to have this sale completed immediately, leaving Hendry with unlimited funds to correct the mistakes of a regrettable offseason.

But really, how many more major moves do the Cubs need to entrust Hendry with at this point? If a top-three payroll isn’t enough to win the division, why believe that adding to that payroll would put us over the top?

The truth is, regardless of who generally manages this team, it will largely be the same next year, unless the Cubs find a taker for the likes of Soriano and/or Bradley, similar to how Hendry was able to unload Todd Hundley years ago.

But that may not be so bad after all.

True, there are a lot of “ifs” in the following statement, but if Randy Wells is the real deal, and if they can find someone (anyone) to fill in capably at the leadoff spot instead of Soriano, and if Harden (or his replacement) becomes a pitching stud, and if the bullpen gets fixed, and if…

Hey, we’re getting ahead of ourselves here. More to come. Meanwhile, it is good to know that we have an owner now.

The impact of the new ownership is a book whose first chapter has yet to be written. Meanwhile, let’s hope the Cubs return to “owning” the division, come to think of it.