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Where are the Cubs' profits going?

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07:36 AM ET 02.20 | Cubs chairman Tom Ricketts bristled at the notion that the Cubs' family ownership is taking profits at the expense of spending on the baseball operation. "What you're seeing is dollars that are being taken in the organization and spent in ways that are just not obvious to everybody on the payroll side," Ricketts said of the spending. ... He wouldn't give details, at one point citing a non-disclosure agreement that was part of the terms. But according to sources, debt service costs the Cubs close to $35 million a year, and bank covenants add another layer of spending restrictions. ... Meanwhile, evenly distributed league revenues have increased significantly in recent years, while the Cubs' payroll has gone down by $60 million since the Rickettses' first season.

Chicago Sun-Times

Theo Epstein, Icon Sports Theo Epstein, Icon Sports
February 20, 2014  07:49 AM ET

Maybe they're building up the minor league system. We all know they're not spending it on major league talent.

February 20, 2014  08:14 AM ET

....the cubs should move to san antone so they can play in a shiny new stadium....change the new to the cachorros....keep the same goofy hat though...

Comment #3 has been removed
February 20, 2014  09:00 AM ET

Hey , who ya gonna believe? Me or your lying eyes?

February 20, 2014  10:04 AM ET

Hey, it takes a lot of money to research mascots and their effectiveness in making people forget that their team is not cutting it.

February 20, 2014  10:12 AM ET
QUOTE(#5):

Hey, it takes a lot of money to research mascots and their effectiveness in making people forget that their team is not cutting it.

I was howling when I saw that a Chicago news station showed a photoshopped version of the mascot with his junk hanging out (since he's like Donald Duck and wears no pants)...the anchor even cracked up a bit.

February 20, 2014  10:12 AM ET
QUOTE(#3):

Why is this organization so stupid? They should be raking in the cash

Yeah, and Ricketts is pocketing a big chunk of it...

February 20, 2014  10:17 AM ET
QUOTE(#5):

Hey, it takes a lot of money to research mascots and their effectiveness in making people forget that their team is not cutting it.

Yes, I assume that Clark the Cub has a big chunk of the 2014 spending budget.

Comment #9 has been removed
February 20, 2014  10:28 AM ET
QUOTE(#9):

So many different directions

You talking about where Clark's junk is pointing?
I'd say right towards Ryne Sandberg's first wife...

February 20, 2014  10:29 AM ET
QUOTE(#5):

Hey, it takes a lot of money to research mascots and their effectiveness in making people forget that their team is not cutting it.

The Cubs' scientists have found that Budweiser is the best tool for that.

February 20, 2014  10:39 AM ET
QUOTE(#8):

Yes, I assume that Clark the Cub has a big chunk of the 2014 spending budget.

The Deadspin photo shop contest with Clark a while back was great.

February 20, 2014  10:43 AM ET
QUOTE(#6):

I was howling when I saw that a Chicago news station showed a photoshopped version of the mascot with his junk hanging out (since he's like Donald Duck and wears no pants)...the anchor even cracked up a bit.

Theo looks like he just came from a funeral in that picture.

Comment #14 has been removed
February 20, 2014  11:03 AM ET
QUOTE(#14):

These greedy fools are milking the organization for profits.They have absolutely no interest whatsoever in fielding and paying quality players.The Cubs will never contend.Cubs fans are idiots.

Hey! Some of my best friends are idiots and some of their best friends are idiots and Hey! wait a minute....

Comment #16 has been removed
February 20, 2014  11:07 AM ET
QUOTE(#16):

My guess is that Epstein has been focused on developing the farm system, which is now ranked among the best in the majors. I'd expect that, as the youngsters develop, they will begin to plug holes with free agents, but at this time, it wouldn't really make any sense to dump money into the free agent market until there's a base to build on.

Yeah, not much point in putting expensive lipstick on a pig at this point.
Just cut the Bud prices by 50 cents and the fans will cheer like they won the WS!

February 20, 2014  11:08 AM ET

that's the main reason WHY Epstein was hired,,,to lower the payrroll in the cubs organization!!

Comment #19 has been removed
 
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