The Cubs "want to control more of the local economy that feeds off the baseball team," and Chair Tom Ricketts' purchase of three rooftop businesses last month is "the latest sign that he is gaining control not just of the future of Wrigley but portions of Wrigleyville itself," according to Hopkins & Sachdev of the CHICAGO TRIBUNE. From "winning approval to close portions of streets during game days to hosting concerts, the team has begun to transform the rhythm and character of the Lakeview neighborhood." Ricketts' plans include "an open-air plaza, a nearby hotel and street fairs." The operators of rooftops "have no doubt that he wants, ultimately, to own their businesses -- and will employ all the team's leverage to reach that goal." MLB owners are trying to "capture revenue from their holdings and their brands year-round in ways that don't require them to share the money." The corner of Clark and Addison "can be seen as the home to a Ricketts-controlled retail, sports and entertainment district designed to draw growing levels of disposable income from baseball fans and nonfans alike." Cardinals Chair & CEO Bill DeWitt Jr. said that rooftop seating in Chicago "can be seen as an extension of Wrigley's seating." DeWitt: "They really act as the all-inclusive premium seating for the Cubs. Wrigley just doesn't have that capacity." Hopkins & Sachdev noted it is "almost guaranteed" that any rooftop businesses purchased by Ricketts will "remain as Ricketts family assets, and thus won't be subject to baseball's revenue-sharing rules." Ricketts has "said little about his plans for the rooftops buildings he acquired other than he plans to continue operating them" (CHICAGO TRIBUNE, 2/14).
