What we heard from Tom Ricketts, including whether the Chicago Cubs would go over the luxury tax and the latest on direct-to-consumer streaming

MESA, Ariz. — Chicago Cubs Chairman Tom Ricketts let his front office mold the direction the organization took in the offseason.

While he engaged in near daily conversation with president of baseball operations Jed Hoyer, roster decisions were left to Hoyer’s discretion. After speaking to the team Monday before the Cubs’ first full-squad workout, Ricketts commended Hoyer for a great offseason with the talent he brought in, proclaiming, “I mean, just look at everything (manager David Ross) has to work with this year compared to last year in Year 4.”

“This is a team that should compete for the division,” Ricketts continued. “I think we have the right manager. We have the right guys and I think Jed did a great job putting it together.”

The Cubs’ competitive balance tax (CBT) payroll sits around $225 million with camp underway — ninth-highest in the majors — hovering just below the $233 million threshold for 2023. Since 2012, the Cubs have ranked in the top five in CBT spending four times (2016, 2018, 2019 and 2020) and outside the top 10 five times (2012, 2013, 2014, 2021 and 2022).

The team’s first-half performance will dictate whether the Cubs utilize their current CBT wiggle room.

“We always have the ability to add resources at the deadline,” Ricketts said. “We’ll make that decision as it gets closer. … You want to be thoughtful about it and you want to be alert and manage around it if you can. If we’re midseason and we need a player, we’ll do what we have to do.

“We’ll manage (the CBT) year to year. I’m not going to promise top five or anything like that, but we will definitely put the resources we have on the field.”

Ricketts addressed other topics during Monday’s media session.

[ [Don’t miss] How Nick Lovullo, son of the Arizona Diamondbacks manager, is forging his own coaching path in the Chicago Cubs system ]

Any Cubs fans hoping direct-to-consumer streaming will be available through Marquee Sports Network by the start of the season will likely still be waiting when March 30 arrives.

The Cubs are exploring that avenue, Ricketts said, but he added that the most important part of a DTC option is “we want to do it right the first time.” Ricketts acknowledged a streaming component might not be 100% ready by opening day.

“We want to make sure that when we do have it out there it’s a good value to fans,” Ricketts said. “We realize that the way people consume the game is changing. We want to make sure we accommodate that. But it’s kind of like a measure-twice, cut-once thing for us. We want to make sure we do it right.”

While the Cubs work out the logistics for a DTC streaming choice, at least they don’t face the uncertainty 14 MLB teams face with their regional sports networks. Bally Sports is owned by Diamond Sports Group, which activated a 30-day grace period Feb. 15 for a $140 million debt payment. The Cincinnati Reds, Milwaukee Brewers and St. Louis Cardinals are among the teams with a Bally RSN.

Commissioner Rob Manfred told reporters in Florida that if Bally’s parent company files for bankruptcy, MLB would distribute the affected teams’ games and look for a new model.

“There’s a lot of teams that are having some financial challenges with their RSNs, and we’re not one of them,” Ricketts said. “Financially, (Marquee) is pretty solid, so it doesn’t affect us directly. But obviously we’re concerned in the big picture because you want every team to have a healthy RSN.

“Hopefully, over the next few months, we’ll be able to figure out a model that will be more sustainable.”

The DraftKings sportsbook at Wrigley Field is also not expected to be ready for the start of the season. There’s no hard date, but Ricketts estimates it will open sometime in late spring or early summer. He views the revenue the Cubs will generate from the sportsbook as a separate entity, “but that should help us in the long run.”

“All the sponsorship revenue goes back through to the team to the baseball guys,” he said.

[ [Don’t miss] Column: Cubs and White Sox are adapting to new MLB rules, including the pitch clock. What else might Theo Epstein have in store? ]

The 2023 season represents the first time MLB will permit teams to put a brand on their jerseys.

Each franchise is allowed a 4-by-4-inch advertisement patch on the left or right sleeve. The Cubs have had conversations with companies about being their jersey sponsor but don’t sound like they’re in a rush to get a deal done before the season.

“We’ll have to wait for the right one at the right moment,” Ricketts said. “Because it’s on your jersey, you want to make sure you get the right partner. … You can’t control the timing.”