Inside these posts: Tom Ricketts

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Confusion reigns over Ricketts’ Wrigley request

(E. Jason Wambsgans/Chicago Tribune)

The day started with the Chicago Cubs touting the support of Chicago area labor officials for its Wrigley Field renovation plan, but by afternoon key lawmakers in Springfield seemed to be splashing mud on the deal amid contradictory statements.

House Speaker Michael Madigan (D-Chicago) told reporters in Springfield Tuesday afternoon that the team’s owners, the Ricketts family, withdrew its proposal to finance a $200 million stadium renovation with a state bond sale that would be repaid with the anticipated growth in the 12 percent amusement tax levied on tickets sold at Wrigley. Get the full story »

Ricketts: No Plan B if state won’t back Wrigley bonds

A proposed rendering of the renovations at Wrigley. (Handout)

By Alejandra Cancino and Kathy Bergen | Chicago Cubs owner Tom Ricketts on Monday told the Tribune’s editorial board he doesn’t have a Plan B to come up with $200 million if the state rejects hisĀ  proposal to borrow that money in a bond offering.

The money will be used to make extensive renovations at Wrigley Field, including repairs of the dilapidated concourses beneath the field, better amenities for players and more bathrooms, he said.

The Cubs’ proposal calls for the Illinois Sports Facilities Authority, which owns U.S. Cellular Field, to float $200 million to $300 million in bonds. The bonds would be paid back over 35 years through amusement taxes that Wrigley Field patrons pay. Get the full story »

Ricketts seeks $200M in state aid for Wrigley

(Tribune file)

The owner of the Chicago Cubs is asking the state to help finance more than $200 million in renovations at Wrigley Field that will ensure the team stays at the historic ballpark for the next 35 years.

The Ricketts family, which purchased the team last year from Tribune Co. in a deal valued at $845 million, has pledged that the project will not be financed by new taxes or an increase in existing taxes, but it would redirect some future revenue to the stadium. Get the full story »

Cubs warn rooftop operators about game-day sales

ct-biz-rooftops-web-two.jpgFans root for the Cubs from atop the rooftop venue “Wrigley Done Right” on Sheffield. (E. Jason Wambsgans/Chicago Tribune)

By Ameet Sachdev | The Chicago Cubs are crying foul over alleged game day ticket sales to rooftop bars
across the street from Wrigley Field.

Cubs President Crane Kenney sent a letter last week to rooftop operators reminding them that game day sales violate a City of Chicago
ordinance governing the rooftop businesses. The letter was obtained by
the Chicago Tribune.

Get the full story »