CHICAGO (AP) -Chicago Cubs chairman Crane Kenney reiterated Wednesday there is no timetable for the sale of the team and that Tribune Co. continues to explore the possibility of selling Wrigley Field separately or jointly.
The team earlier this month rejected a plan from the Illinois Sports Facilities Authority to purchase Wrigley Field, the second oldest ball park in the majors. The ISFA is headed by former Gov. James Thompson.
“No update on the process. We’re going to keep going forward with our private process. We’ve had proposals back and forth with ISFA,” Kenney said.
“The governor said he wants to send us another one. I said if they want to do that, we’re always willing to look at anything that’s good for the team and good for the Tribune’s employees. Obviously, he protects the state’s interest.”
Kenney said financial books will be sent soon to approved bidders.
“There’s really no timetable. You’ll probably hear that the books go out in the next few weeks and then a process of management interviews. Toward the second half of the season, you may have a new owner that has to get through the MLB process. And it’s probably an end-of-the-year process,” Kenney added.
Kenney said separate books for the ball park, the team and the Tribune Co.’s interest in Comcast SportsNet would be available.
“We’ll have a book for the stadium only if that’s where someone has their interest, and in the team only and in the Comcast SportsNet interest. If somebody wants three assets, they can get all three books,” he said.
He said there is a list of projects for overhauling Wrigley Field and generating more revenue, while making sure the character of the park is not compromised.
“This team and this ballpark, we’ve really just scratched the surface of where it can go. If you look at the Red Sox model and where they are with revenues and payroll, that’s exactly where we’re headed,” Kenney said.
Boston’s Fenway Park, the oldest in the majors, has undergone a renovation that included putting seats on top of the famed Green Monster in left field.
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