Truth & Rumors > MLB

Cubs to sink $200 million into Wrigley reno?

Views
29400
Comments
97

08:19 AM ET 11.12 | Wrigley may be in line for a facelift. The owner of the Chicago Cubs will ask the state to borrow up to $300 million in a bond offering to make extensive renovations at Wrigley Field that would ensure the team can play at the historic ballpark for another 50 years. ... Wrigley needs more than $200 million in renovations because the steel, concrete and electrical systems have to be upgraded, [Tom] Ricketts said. No increase in the stadium's 41,000 capacity is planned. Cubs fans would see greater amenities, while players would receive better facilities. Above all, the renovations would preserve the historic character of the stadium, Ricketts said.

Chicago Tribune

Wrigley Field , Getty Images Wrigley Field , Getty Images
November 12, 2010  08:24 AM ET

They tried sinking that kind of money into players' salaries and we know how that turned out. Maybe renovating Wrigley will make them winners!!! :-)

November 12, 2010  08:32 AM ET

Pay for it yourself unless you plan to give the taxpayers every penny of your profits. Owners are cheap theives feeding at the public trough while overpaying steroid enhanced jerks and charging outrageous prices.

November 12, 2010  09:06 AM ET

What will it cost to sand blast the petrified vomit off the bleachers?

Comment #5 has been removed
November 12, 2010  09:25 AM ET

Sink is the correct word to use. The renovation won't materialize to anymore W's than prior year.

November 12, 2010  10:03 AM ET

What a crock. Illinois is the state with the second worst financial situation (behind California), and they are be asked to take out a $300 million loan to benefit the Cubbies and the fan boy owners who bought the team as an expensive play toy? The Ricketts knew that Wrigley needed extensive repairs when they bought the team. They should have planned to pay for those repairs themselves. Nice touch waiting until after the election to make this request. Had they made it before, it would have prevented Quinn, that tax and spend liberal, from being elected by the slimmest of margins.

November 12, 2010  10:08 AM ET
QUOTE:

turd polishing 101

First, grab the turd firmly between the thumb and forefinger...

November 12, 2010  10:26 AM ET

It's a BOND offer. That means they pay it back, Slapshot.

November 12, 2010  10:29 AM ET
QUOTE(#3):

Pay for it yourself unless you plan to give the taxpayers every penny of your profits. Owners are cheap theives feeding at the public trough while overpaying steroid enhanced jerks and charging outrageous prices.

Bam!!!

November 12, 2010  10:29 AM ET

It's a shame people here are only attacking an attempt to, instead of create another fiscal monstrosity, they're actually trying to keep something that is a landmark. Something everyone knows to be one of the most famous ballparks in the nation.

It's not like the Yankees, who buy everything, including championships.

November 12, 2010  10:37 AM ET
QUOTE(#11):

It's a BOND offer. That means they pay it back, Slapshot.

The state is still on the hook to pay it off if the revenues are less than expected. Plus every bond floated by the state counts against the financial rating of the state IE the more bonds issued, the higher interest rates must be paid on any bonds issued by the state.

November 12, 2010  10:37 AM ET

Tear it down and build an exact but more modern replica of the park in the same place! If they can tear down Yankee Stadium, they can tear down Wrigley.

November 12, 2010  10:42 AM ET
QUOTE(#14):

The state is still on the hook to pay it off if the revenues are less than expected. Plus every bond floated by the state counts against the financial rating of the state IE the more bonds issued, the higher interest rates must be paid on any bonds issued by the state.

Bond ratings? Whatever. float the bonds...the team is still the one paying.

November 12, 2010  11:01 AM ET
QUOTE(#16):

Bond ratings? Whatever. float the bonds...the team is still the one paying.

Tell me why the State of Illinois, already in financial difficulty, should issue the bonds? Why can't the Cubbies issue corporate bonds? They are in better financial shape and the project is for their own benefit.

November 12, 2010  11:06 AM ET
QUOTE(#17):

Tell me why the State of Illinois, already in financial difficulty, should issue the bonds? Why can't the Cubbies issue corporate bonds? They are in better financial shape and the project is for their own benefit.

Because the team will take in more revenue in the first year of the new stadium, at a minimum. and it doesn't cost them anything.

November 12, 2010  11:14 AM ET
QUOTE(#18):

Because the team will take in more revenue in the first year of the new stadium, at a minimum. and it doesn't cost them anything.

You made my point that the Cubbies should float the bond themselves.

November 12, 2010  11:23 AM ET
QUOTE(#19):

You made my point that the Cubbies should float the bond themselves.

If you say so...

It will cost the Cubs more to float the bond and cost the city/state nothing.

November 12, 2010  11:27 AM ET

For that kind of money, tear it down, go look at PNC Park in Pittsburgh and replicate that park in Chicago.

November 12, 2010  11:50 AM ET

The should just build a new park. Even if they get the bond money which they shouldn't there is only so much they can do in renovations because of the age of othe stadium and its landmark status. Cubs fans complain about ticket prices and how that money doesn't always go back into the payroll but none of them stopped to think about the money pit wrigley has become. If they move it to a close suburb the cubs could easily create "new wrigleyville". You can have a bigger stadium, luxury suites, ENOUGH PARKING, plus any housing, stores or restaurants could be owned in part or whole by the team giving them way more revenue streams than just staying and renovating wrigley.

 
November 12, 2010  12:08 PM ET
QUOTE:

oh go eat crap...the cubs have paid a lot of money to free agents over the years and they've made some terrible deals. blow it out your ****

Well I never!

Comment

Remember to keep your posts clean. Profanity will get filtered, and offensive comments will be removed.


Truth & Rumors

MOST POPULAR

  1. 1
    'Melo wants to be wooed (like, Howard wooed)
    Views
    1520
    Comments
    1288
  2. 2
    Woodson's next job
    Views
    5538
    Comments
    1102
  3. 3
    Lee on the Yankees' radar (Burnett, too)
    Views
    12454
    Comments
    533
  4. 4
    Farrell defends Fenway's 'sleep room'
    Views
    1511
    Comments
    480
  5. 5
    Youthful Red Wings are rattled
    Views
    1541
    Comments
    288

SI.com

SI Photos