| « Short Hops: Ricketts Seeks State Funding? WTF? | Big Ten Football Monday: The Weekend That Was » |
Cubs Thu Nov 11 2010
Cubs Owners Seek State Funds to Renovate Wrigley
Chicago Cubs owner Tom Ricketts announced a proposal to the Illinois Sports Facility Association that would help aid in the renovation of Wrigley Field. The proposed deal would provide up to $300 million in bonds from amusement taxes, which are taken from ticket sales. If this deal is approved it would aid in the much needed upgrade of the 96-year-old ballpark.
The idea on paper looks good, but what looks good on paper doesn't always translate into success. See 2004 Chicago Cubs. While improving Wrigley Field would be in the best interest of the State of Illinois seeing as how it is Illinois' third largest attraction. It would only make sense on the part of the state that the Cubs continue to stay where they are at and that would mean keeping Wrigley Field in top shape for years to come.
On the flip side of things Illinois is hurting financially and approving a deal such as this might not be in their best interest when the school system is in dire financial need not to mention the roads and public transportation. Ricketts did state in his proposal that the money would not come from tax payers or raising existing taxes. If that is the case this deal might not be so far off.
Considering both sides of this to me it seems like this is something that the state should at least consider. The Cubs are one of the top sources of revenue in Illinois contributing over $600 million to the state's economy. Upgrading and preserving Wrigley Field would only help further that for the future. If they Ricketts are able to move forward with this it would help generate more revenue for the neighborhood, the city of Chicago and the State of Illinois. Also it would ensure that the Cubs don't pick up and move to the suburbs to a state of the art facility. I doubt that would ever happen, but anything is possible. The proposal is out there. Now it is up to the powers that be to essentially decide the future of Wrigley Field.
Marvin8 / November 12, 2010 5:10 AM
I don't know if this deal makes sense for Chicagoans for Illinoisans, but the threat of the Cubs picking up and moving to the suburbs is a complete joke. They would EASILY lose half of their fans. EASILY. The Cubs and Wrigley Field are eternally entwined.