If the Cubs want to continue their long relationship with WGN-AM 720, dating back to 1925, they likely will have to do it at a reduced price, according to Ed Sherman at The Chicago Tribune.
Strapped with an expensive rights deal and sharply declining ratings because of the Cubs' struggles on the field, WGN is exercising an option to re-open their contract with the team.
Broadcast sources say WGN is losing significant money on the Cubs broadcasts, with listeners and advertisers tuning out a team that has lost 197 games in the last two years.
Cubs games still will air on the station in 2014, but beyond that, the two sides will have to agree on a new deal.
WGN-AM President Jimmy de Castro declined to discuss any of the specifics of the situation. However, he stressed several times that he hopes the Cubs continue to be on WGN.
"Like any contract, there are periods where you do a business analysis," de Castro said. "Both the Cubs and WGN are looking at it. We love our partnership and we hope it continues forever. The contract calls for us to take a look at it and we're going to do that."
In other words: Forever will end abruptly if the money isn't right for WGN.
Broadcast insiders say the current contract calls for WGN to pay as much as $10 million per year to Cubs ("Maybe more," said one source), making it one of the most expensive in Major League Baseball.
The Yankees recently signed a deal with WFAN in New York , calling for an annual payout estimated in the $15-20 million range.
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