Rooting for Canning

The Chicago Cubs are for sale, with more than 10 bidders reported to have already submitted bids (another dozen or so are bidding on Wrigley Field alone). Lots of big names involved, but the inside track is said to belong to John Canning, chairman and co-founder of buyout firm Madison Dearborn Capital Partners. We here at peHUB are hoping that he wins.

Please understand that our preference is self-serving, since a Canning win would mean that we can justifiably discuss baseball under the guise of business. If you don’t believe me, just look at how many times the Boston Celtics have shown up in this space.

In fact, our corollary hope is that Canning follows in the footsteps of Celtics co-owners Steve Pagliucia (Bain Capital) and Wyc Grousbeck (Highland Capital Partners), by putting together a broad limited partnership full of fellow private equity pros. I’ve put out a few feelers to see if that’s the case, since it’s unlikely that Canning plans to foot the $1 billion bill alone. Will let you know if I hear anything substantive…