UPDATE: No Renovation Deal as Second Deadline Passes
Rumors that Wrigley renovation talks could come to an end Monday may now be more rumor than truth, sources said.
Despite the push for officials to announce an agreement for before Monday’s opening day, a snag has developed with rooftop owners that could put a halt to an agreement on renovations.
Sources close to the negotiations said contrary to the widely held belief that all sides were close to a deal last week, the rooftop owners are now demanding to extend their revenue sharing agreement with the Cubs beyond its current expiration of 2024.
Rooftop owners have threatened to sue if views were disrupted by the renovation’s planned billboard additions and reportedly believe they are being misled about the size of the billboard the team wants to install in right field, sources told NBC Chicago.
It appears the Cubs want something three times larger than the current Toyota sign and that could drive several of the 16 rooftop owners out of business.
Previous talks on the renovation said new signage would affect one or two rooftops and that rooftop owners would not get an extension on the agreement on their revenue-sharing contract with the team. Rooftop owners currently share 17 percent of their profits with the Cubs.
Chicago Baseball
With only one day left before the Cubs home opener, that critical snag could delay if not strike out the Mayor’s hope of announcing 2000 new construction jobs and $500 million in construction spending in Wrigleyville before the new season gets underway.
Cubs baseball President Theo Epstein said last week, the renovation and the income it would bring are inextricably tied to the team’s future ability to succeed.
"If we don't get a Wrigley renovation done in a timely manner, and done the right way, then we can't accomplish our business objectives and that will certainly get in the way of us ultimately accomplishing our baseball objectives,"he said. "It's very important."
