Billionaire blogger Mark Cuban is more serious about buying a major league baseball team than he's been letting on. The tech entrepreneur and Dallas Mavericks owner is set to offer $625 million to buy the Chicago Cubs from Tribune Co., according to a source familiar with the matter. "Mark is desperate to buy the Cubs," says the source. "He wants this so bad."
Cuban hasn't responded to a message from Radar, but when asked about the Cubs in the past, he has admitted to being a potential buyer. "I'm always interested in iconic teams or teams from my hometown, but it's a 'nice to do,' not a 'have to do,'" he told TheStreet.com on February 9.
Despite their reputation as perennial disappointments, the Cubs are one of the most valuable franchises in baseball; last year, Forbes estimated the team's worth at $448 million. (The Yankees topped the ranking at more than $1 billion.) Cuban's offer represents a sizable premium over that valuation.