Wrigley Field, the home of America's most lovable losers, the Chicago Cubs, is nearing a $500 million makeover according to sources close to the negotiations.
According to the sources, the renovation deal calls for $300 million of work on Wrigley Field, including a video scoreboard and a new sign in right field. The size of the scoreboard is being ironed out in the discussions, and building owners that boast rooftop views of Cubs games have threatened legal action if any of the new additions obstruct sight lines.
The other $200 million will be put toward a brand new 300-space parking lot and a nearby hotel. The Cubs organization is expected pick up the entire tab, and the deal will likely be done by Monday, when the Cubs play in their home opener. The parking lot will be built on a gravel lot at a nearby cemetery, and figures to alleviate parking woes that Wrigley patrons have long bemoaned.
Wrigley Field has been in use for 99 years, and the Ricketts family, who purchased the Cubs in 2009 have made updating the stadium a priority since taking over. The Ricketts claim they spend $15 million a year to keep up with the necessary repairs on the second-oldest stadium in baseball.
The process of reaching a renovation deal has been long and contentious, according to an ESPN.com report. The Ricketts failed to reach a deal while former mayor Richard Daley was in office, so they turned to Rahm Emmanuel in 2011, who said talks were "in the final stages," and could include some public financing.
The Ricketts then enraged Emmanuel when they threatened to run a $10 million campaign against president Barack Obama, which would be highlighting his association with the incendiary Reverend Jeremiah Wright. Emmanuel had previously served as Obama's chief of staff and refused to take calls from the Ricketts.
Those issues seem to have been settled for now, however, and Cubs fans can look forward to an updated Wrigley Field. All that's left is for the Cubs to update their roster and improve on last season's 61-101 fifth-place finish in the National League Central.
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