Selig On Cubs’ Finances: ‘I Have No Concerns’
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CHICAGO (CBS) Despite reportedly being one of nine teams in violation of Major League Baseball’s debt rules, Commissioner Bud Selig is not worried about the Cubs’ financial situation.
“I have no concerns (about the Cubs), nor does anybody in baseball and all the financial people (we deal with),” Selig told the Chicago Tribune’s Phil Rogers. “Nor, for that matter, am I concerned with the overall health of the industry. It is in very good shape. You can’t judge anything looking at this snapshot in time.”
Selig did not deny that major league staffers told the Cubs, Mets, Orioles, Tigers, Marlins, Phillies, Rangers, Nationals and Dodgers that they were in violation of the league’s debt service rules, according to the report, but he remains confident in the Ricketts’ ownership group.
The Tribune report also said Cubs spokesman Peter Chase told reporters Friday: “The Cubs are on solid financial footing and enjoy a strong credit rating. Major League Baseball is fully aware of (the) unique aspects (of the complicated purchase) and the Cubs are in compliance with MLB.”