The Chicago Sun-Times reports that at a meeting today at the City Club, Cubs Chairman Tom Ricketts indicated that the Cubs need the millions in revenue that Wrigley Field renovations would generate or the team will have to consider moving.
On Tuesday, the Cubs showed off their $300,000,000 plan to renovate Wrigley and Ricketts insisted the team needs every square inch of new signage, city sidewalks and streets, and every one of the night games and 3:05 p.m. starts, to make it work without a public subsidy.
The Sun-Times reports:
To bankroll the plan, Ricketts says he needs the millions that would be generated by a 6,000-square-foot video scoreboard in left field, a 1,000-square-foot sign in right field and 35,000 square feet of advertising on a 91-foot high hotel and open-air plaza he plans to build outside the stadium.
Ricketts has further demanded: 10 additional night games; six 3:05 p.m. starts; a Class L property tax break and “no compensation” to Chicago taxpayers — either for air rights over Clark Street to accommodate a pedestrian bridge or for taking out a lane of parking on Waveland and a sidewalk on Sheffield to extend the right- and left-field walls outward to minimize the impact of outfield signs on rooftop views.
This is the artist rendering of the renovated ballfield.
“There’s no threats,” Ricketts said.
“We are committed to working this out,” he said. “We’ve always said we want to win in Wrigley Field.”
In his presentation, Ricketts said “All we really need is to run a business like a business and not a museum.”