Live Nation Entertainment "has struck a deal to help build and operate as many as five entertainment venues within Sterling Bay’s massive Lincoln Yards development on Chicago’s North Side," adding "another heavy hitter to the planned sports and entertainment complex," according to Ryan Ori of the CHICAGO TRIBUNE. Cubs Chair Tom Ricketts recently "announced a joint venture with Sterling Bay to bring" a USL expansion team to a "planned 20,000-seat stadium along the Chicago River." Live Nation and Sterling Bay "plan to build three to five venues." Sterling Bay Principal & General Counsel Dean Marks said that "aside from the large sports stadium, which could have a retractable roof, the venues could potentially range from a 100-seat amphitheater to a 6,000- to 8,000-seat venue." That would "allow Live Nation to schedule a mix of musicians, comedians and other entertainers ranging from up-and-coming acts to world-famous performers." Marks "declined to say how much Live Nation is investing in the partnership." But he did say that the smaller venues "could cost" about $50M combined, with the big stadium "costing in the range" of $200M. Marks added that the Ricketts family "will be involved in scheduling sporting events besides the soccer team’s games." Marks: “This is all part of making this a live-work-play recreation district" (CHICAGO TRIBUNE, 5/18).
LIVE NATION'S LINCOLN YARDS DEVELOPMENT
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