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SBD/April 26, 2012/Facilities
Teams Say New Wrigley Field LED Board Making It Difficult To Warm Up Bullpen
Published April 26, 2012
DOUBLE YOUR PLEASURE: In Chicago, Greg Hinz noted that while things are "still moving around" in talks about how to rebuild/renovate Wrigley Field, the public is "being asked to put in both less and more than you might suspect." On the table is a $500M or so plan, which includes $300M to "reconstruct the nearly century-old Wrigley and $200 million for the 'Triangle' parking, entertainment and multiuse structure off the west wall of the ballpark." Cubs Owner the Ricketts family "and/or the team would pay for the Triangle building." That means $300M "is needed for the ballpark proper." Half of that "would come from the team, presumably in increased revenue from more signage inside Wrigley and retail and other entertainment." The other half "would come from $150 million or so in bonds to be retired with increased revenue from the existing city and Cook County amusement taxes on ticket sales." The team also wants a 50% "cut of any increase in amusement tax revenue growth" above 6%. And unlike the bonds, which "would be retired in 30 or 35 years, that would be forever" (CHICAGOBUSINESS.com, 4/25).