During last weekend's Cubs Convention, team executives announced a $300 million project plan to restore Wrigley Field. Party decks, executive lounges, a jumbotron and restaurants are some of the new attractions included in the blueprint, but the costly plans will require some additional revenue.
The Wrigleyville Rooftop Association announced a "win-win" plan on Friday to help raise the necessary funds for the renovations and the City of Chicago. The advertising deal they're putting in place includes the installation of digital signs on each rooftop. Combined, those advertisements are expected to generate between $10-20 million in annual revenue. One-hundred percent of that money will go straight to the ballpark's construction plans.
"We believe this common sense plan is a win-win for the community, rooftops, City Hall and the Cubs," said Murphy's Bleachers and Rooftops owner and Wrigleyville Rooftops Association member Beth Murphy.
"My late husband and I fought hard for the landmark compromise years ago and the community leaders I've spoken with universally believe our plan makes more sense since it puts the Wrigleyville community first, not just one business."
But this idea isn't a "win-win" for everyone. According to the 2004 landmark ordinance Murphy says her family fought for, "memorable views of the surrounding buildings" cannot be blocked, but current rooftop owners still see a risk in this new deal.
"It will be a sad day if the thousands of baseball fans who come to Wrigleyville to see a game from a rooftop have their view blocked," said Cubby Bear and rooftop owner George Loukas.
Over the span of the 20-year advertising contract, the Cubs are expected to earn $70 million in royalties while the City of Chicago earns nearly $60 million in taxes. $7 million is expected to be raised for charitable donations as well.