Cubs looking for help with Wrigley renovation

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Cubs looking for help with Wrigley renovation

Thursday, Nov. 11, 2010
8:10 PM
By Patrick MooneyCSNChicago.com

It's not surprising to see a limo pull up outside Wrigley Field and a bride and groom emerge to have their picture taken in front of the marquee. Such is the pull of the second-oldest ballpark in the majors as it approaches its 100th anniversary.

To preserve what ownership calls the state's third-largest tourist attraction, the Cubs will request that a portion of the amusement taxes added to each ticket be directly invested in a stadium renovation, chairman Tom Ricketts wrote Thursday in a letter to season-ticket holders.

The Chicago Tribune first reported that the plan would have the Illinois Sports Facilities Authority float nearly 300 million in bonds. Within a 35-year window, the bonds would be paid by the 12 percent ticket surcharge assessed by the city and Cook County.

Ricketts estimated that the Cubs and Wrigley Field are annually responsible for a 600 million impact on the local economy, 7,000 jobs and 60 million in tax collections.

If approved, Ricketts wrote, the Cubs will undertake more than 200 million in renovations during the next five years. His family -- after purchasing the team, stadium and a stake in Comcast SportsNet for roughly 845 million almost 13 months ago -- would also make a significant investment in neighborhood development.

The ISFA owns U.S. Cellular Field, but the chairman indicated that the team would continue to play at Wrigley Field during construction. The Cubs will be motivated to stay there because they have drawn at least three-million fans for seven consecutive seasons.

Decisions will be made at a time when the unemployment rate is hovering around 10 percent and the state could be facing a 15 billion deficit. In the past several months, Cubs executives have shown their political skill in lobbying Mesa, Ariz., and convincing the city to spend close to 100 million for a new spring-training facility.

Now they will turn their attention toward Wrigley Field, which is being converted for next weekend's Northwestern-Illinois football game, another advertisement for the Cubs brand.

The ancient stadium will need significant upgrades if the Cubs are to host an All-Star Game this decade, and there are still visions of developing the multi-purpose "triangle building" on Clark Street.

"The plan is fair, simple and focused. Most importantly, it will not increase taxes you currently pay and will not create any new taxes," Ricketts wrote. "This plan will preserve the historic character and tradition of the Friendly Confines for the next generation and will enhance the Lakeview community."

Patrick Mooney is CSNChicago.com's Cubs beat writer. Follow Patrick on Twitter @CSNMooney for up-to-the-minute Cubs news and views.

Preview: Cubs open series vs. Red Sox tonight on CSN Plus

Preview: Cubs open series vs. Red Sox tonight on CSN Plus

The Cubs take on the Boston Red Sox tonight, and you can catch all the action on CSN and live streaming on CSNChicago.com and the NBC Sports App.

Coverage begins with Cubs Pregame Live at 6 p.m. Then catch first pitch with Len Kasper and Jim Deshaies. Be sure to stick around after the final out to get analysis and player reaction on Cubs Postgame Live.

Today’s starting pitching matchup: Jake Arrieta (3-0, 3.65 ERA) vs. Drew Pomeranz (1-1, 4.60 ERA)

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CubsTalk Podcast: Top prospect update

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USA TODAY

CubsTalk Podcast: Top prospect update

Mick Gillispie — the broadcaster for the Double-A Tennessee Smokies as well as the Cubs' spring training broadcaster — joins Tony Andracki to break down some of the organization's top prospects, analyzing the beginning of the 2017 season for guys Ian Happ, Duane Underwood, Eloy Jimenez, Chesny Young, Victor Caratini and Trevor Clifton.

Mick also explains the wackiest game in Smokies history, how a winning culture has disseminated throughout the Cubs minor-league teams and what the World Series ring ceremony was like in Tennessee.

Check out the latest edition of the CubsTalk Podcast: