Chicago Mayor Looks To Delay "Cub Fund" Payment To Help Team

Chicago Mayor Lori Lightfoot introduced an ordinance that "would amend" the '14 agreement with the Cubs to "delay the team's annual $250,000 payment to the Cub Fund until 2024 'due, in part, to the COVID-19 pandemic,'" according to Fran Spielman of the CHICAGO SUN-TIMES. Chicago Alderman Tom Tunney said that the Cub Fund was created in '14 to "bankroll neighborhood infrastructure improvements including street resurfacing and lighting projects normally funded by $1.32 million-a-year in aldermanic menu money." The 10-year agreement, originally expected to expire in '23, "called for the Cubs to pay $500,000 in each of the first five years and $250,000 in years six through 10." Tunney said that delaying the '20 payment is a "'small gesture' in response to the heavy losses the Ricketts family has suffered during the pandemic." Cubs VP/Communications & Community Affairs Julian Green said the Ricketts family "appreciates the city being a partner" (CHICAGO SUN-TIMES, 11/25).