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The Wrigley rooftop business is bad these days

Sep 7, 2010, 10:59 AM EDT

Apparently the down economy and crappy 2010 Cubs team is really taking a bite out of the business of those who operate the rooftop venues outside of Wrigley Field. Many of the businesses are hurting — corporate bookings are way down — and some of the properties have fallen into foreclosure.

The last time I contemplated the rooftop viewing business was back in May when it was reported that the Cubs were going in as partners with one of the operators. At the time I wrote the following:

I wonder if, in this down market, it wouldn’t be a smart play for the
team to try and take over some of those buildings, turning them into
team owned seating.  At the very least, you figure that they could use
these tough times to try and muscle a bigger portion of the take out of
these guys.

It’s all coming together! Indeed, if I was a deranged conspiracy theorist I’d rant about the Cubs tanking the 2010 season in order to effectuate a land grab!

Ha! Just kidding. No baseball owner would doom his team to failure just so he could go after non-baseball economic opportunities. That’s crazy talk!

  1. Kelly - Sep 7, 2010 at 11:37 AM

    $30,000 for a corporate event? If they’re falling into foreclosure, I’d say it’s due to mismanagement of funds from years past. Hot diggity.

  2. Jonny5 - Sep 7, 2010 at 2:09 PM

    I don’t see how new ownership could take on other debt. I mean, they aren’t the McCourts ,whom after reading about I’ve found they apparently think money grows on trees and have no worries about sinking themselves in so much debt it’s impossible to get of. Because money grows on trees and all….

  3. RichardInBigD - Sep 7, 2010 at 2:46 PM

    See? That’s what happened to Tom Hicks! This being Texas and all, there aren’t that many trees, what with all the prairies and deserts and mountains and stuff…

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