Cubs Planning $300 Million Wrigley Field Renovation

The Ricketts family announced on Saturday they are will to pay for the renovations, if the city eases up on landmark restrictions

Sunday, Jan 20, 2013  |  Updated 11:17 AM CDT
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The Cubs unveiled a $300 million renovation plan during the annual Cubs convention. Michelle Relerford reports for NBC News at 10 p.m. on Saturday, Jan. 19, 2013.

The Cubs unveiled a $300 million renovation plan during the annual Cubs convention. Michelle Relerford reports for NBC News at 10 p.m. on Saturday, Jan. 19, 2013.

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Ricketts Unveil Renovation Plans for Wrigley Field

The Ricketts family revealed their renovation plans for Wrigley Field during the Cubs Convention. Sharon Wright reports for NBC News at 5 p.m. on Saturday, Jan. 19, 2013.

Ricketts Unveil Renovation Plans for Wrigley Field

The Ricketts family revealed their renovation plans for Wrigley Field during the Cubs Convention. Sharon Wright reports for NBC News at 5 p.m. on Saturday, Jan. 19, 2013.
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The Chicago Cubs proposed a five-year, $300 million plan to renovate Wrigley Field during the annual Cubs Convention on Saturday.

Cubs chairman Tom Ricketts said the Cubs are willing to pay for their own renovations at Wrigley Field, but they still need the city's help.

“Right now we’re looking at other alternatives,” said Ricketts after a morning ownership-family session with fans at the Cubs Convention. “We’re not looking at amusement taxes. We’re just trying to think of other things that might help us finance the renovations and move forward.

One of those "other things" includes shifting their efforts towards persuading the city to ease up on restrictions surrounding the field. Ricketts believes the move would allow more sponsorship revenue to finance the much needed renovations at Wrigley.

“One of the ways we look at it is: treat us as a private institution," Ricketts said. "Let us go about doing our business and then we’ll take care of ourselves.’’

Ricketts twice didn’t directly answer questions asking if the long-sought desire for tax money was off the table.

Last May, the Cubs believed they were within days of getting approval for a plan that would have relaxed the landmark status of the field, paving the way for up to $150 million in new sponsorship and advertising.

However, the plan was shelved when Ricketts patriarch Joe Ricketts was linked to a potential Super PAC campaign to smear Mayor Rahm Emanuel’s pal President Barack Obama. Emanuel was reportedly livid about the Super PAC plan.

Ricketts said Saturday he still has not talked personally to Emanuel but said team officials have continued to work with City Hall on a plan.

Specifically, the Cubs seek easing some restrictions related to Wrigley’s landmark status, but Ricketts said the limitations they want lifted go beyond that – and include being able to use an already shut-down Sheffield Avenue for activities on game days, similar to what the Boston Red Sox do on Yawkey Way alongside Fenway Park.

“We think it’s a good idea, that it really adds to the fan experience,’’ Ricketts said. “We’ve been to Yawkey Way and we think we could do something comparable. That street’s already closed. Why can’t we just put something on it that’s nice for families or for fans coming to games?

“We’d just like to have more freedom to operate in general.’’

Ricketts seemed optimistic that approval could come soon, and the team scheduled a specific session during Saturday’s Cubs Convention events to unveil renderings of the renovation plans.

“I hope [it’s close],’’ he said. “I think everyone has incentive. We lost a year this year. We want to get the project rolling. It’s a big economic development for the city. It’s a lot of jobs. It’s something that everybody should have an incentive to want to get done.

“The fact is that if you look at all the limitations that we have, whether that’s signage in the outfield that we’re not allowed to do or whether that’s what kind of stuff we do in the park or around the park, I think that we’d just like a little more flexibility to have some more options on that stuff.

“We have an opportunity cost there that’s tremendous. Just give us some relief on some of these restrictions and then we’ll take care of Wrigley Field.’’

Of course, none of the restrictions are new since the Ricketts family bought the team in 2009.

“When we bought the team, we kind of understood some of the restrictions,’’ Ricketts said. “What I didn’t understand was that we’re the only team in baseball to have these restrictions.’’

Earlier this week, the Ricketts family announced plans to build a boutique hotel across from Wrigley Field on Clark Street.

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