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$500M Rehab Deal Brokered For The Friendly Confines

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Stadium concourse [Handout]
Stadium concourse [Handout]

City Hall and the Cubs are now allied in a quest for an approved five-year, $500M Wrigley Field rehab ($200M of which is earmarked for a 175-room hotel). Weeks of back-room negotiations have culminated in a deal that has owner Tom Ricketts scoring nearly everything he asked for: 10 more night games; new ad signage and video board; the hotel; and a full sweep of interior renovations and player facilities expansion (see slides above and previous post). What has yet to emerge from Saturday's grand compromise is whether there will be sightline interference for Wrigley Rooftop owners, and whether they'll sue. An agreement with Wrigley valid through 2023 protects rooftop views in exchange for profit sharing. In sum, not every detail is out in the open and the standard approval process hasn't begun. Further tweaking may come about but the unified front of mayor, alderman, and owner will be difficult to topple.
·City, Cubs announce Wrigley rehab framework [Trib]
·Proposed Wrigley Field Renovations Hit the Scene [Curbed Chicago]