Alderman: Frustrated Ricketts ‘made a mistake’
Cubs Chairman Tom Ricketts “made a mistake” born of “frustration” when he threatened to move his team out of Wrigley Field and Chicago if he doesn’t get the outfield signs he needs to bankroll a $300 million stadium renovation, the local alderman said Thursday.
Ald. Tom Tunney (44th) said he doesn’t believe Ricketts is serious, nor will the ultimatum force him or his constituents to give the Cubs carte blanche.
“Sometimes, things get said out of context. . . . He made a mistake. There’s a lot of frustration over the whole process. He hasn’t worked with the city of Chicago before and I know he’s frustrated. We’re all frustrated,” Tunney said.
Tunney scoffed at the notion that Ricketts would actually entertain the notion of leaving 99-year-old Wrigley, the state’s third-largest tourist attraction.
“Chicago is the best market. Our neighborhood is the best neighborhood. Location, location, location,” Tunney said, repeating the real estate agent’s mantra.
“They’ve had a sub-standard team and they’re still filling the stadium. Something’s good about our neighborhood. I think it’s great. And they do, too.”
To bankroll a $300 million stadi- um renovation without a public subsidy, Ricketts says he needs the millions that would be generated by a 6,000-square-foot video scoreboard in left field, a 1,000-square-foot sign in right field and 35,000 square feet of advertising on a 91-foot high hotel and open-air plaza he plans to build outside the stadium. Ricketts has further demanded: 10 more night games and the flexibility to add up to 11 more if the national television contract or playoffs require it; six 3:05 p.m. starts; three concerts; a Class L property tax break and “no compensation” to Chicago taxpayers — either for air rights over Clark Street to accommodate a pedestrian bridge or for taking out a lane of parking on Waveland and a sidewalk on Sheffield to extend the right- and leftfield walls to minimize the impact of outfield signs on rooftop views.
Earlier this week, Ricketts unveiled his architectural renderings to the City Club of Chicago, then played his ultimate trump card when asked what he would do if he doesn’t get the outfield signs he needs to bankroll the project because of a threatened lawsuit by rooftop club owners who share 17 percent of their revenues with the Cubs.
“If it comes to the point that we don’t have the ability to do what we need to do in our outfield, then we’re going to have to consider moving. It’s as simple as that,” he said.