Nov 12, 2010, 10:05 AM EDT
Cubs chairman Tom Ricketts is asking the state of Illinois to help finance more than $200 million in renovations at Wrigley Field.
In a letter to season ticket holders and Wrigleyville residents, Ricketts said the Illinois General Assembly will be considering a bill to preserve Wrigley Field. The plan will allow a portion of future city and county amusement taxes, paid entirely by Cubs fans, to be invested directly in the preservation of the ballpark. A bill is being drawn up that will be considered in the veto session that begins next week .
Ricketts’ letter said “it will not increase taxes paid by Cubs fans or anyone else and will not create any new taxes.”
I guess technically speaking it won’t increase or create taxes. But those amusement taxes that will be used are already being used to fund some other projects, and moving them to fix up Wrigley Field will necessarily drain those other projects of revenue. Projects that, as far as I can tell, aren’t currently designed to enhance the Cubs’ income streams the way a renovated Wrigley would.
Ricketts’ model for the Wrigley renovations — which are needed, I fully admit — are the Fenway Park renovations that have gone down over the past four or five years. Query: were those funded by public monies, or did Fenway Sports Group pay for that? I believe the latter. I’m going to double check that, but if anyone knows off the top of their head, please let me know and I’ll update.
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