Cubs and Rooftop Association deal appears imminent

Cubs and Rooftop Association deal appears imminent

Tom Ricketts and the Cubs have been pretty adamant in painting the Wrigleyville Rooftop Association as the biggest culprit in the delay of renovating Wrigley Field.

The Cubs have long claimed the looming threat of lawsuits are holding up the start of construction, which in turn holds up revenue streams that can be used for on the field improvements as well.

A resolution appears imminent, according to sources.

This past week, the Rooftop Association, the Cubs, (represented by Crane Kenney and Mike Lufrano) and City Hall all sat down together and made substantial progress.

This marked the first time all 3 parties were represented at the bargaining table at once.

These negotiations have dragged on for quite some time. It now seems just about everyone involved sees a resolution, as long as rooftop owners promise no future threat of litigation, a major sticking point with Ricketts.

All along, it's been the right field facet of the roof toppers that would be more affected by the renovation proposals. Yet, the owners had to stay united. One of the stickier points in the negotiations has involved the owners of the Sheffield Ave. rooftop building the Miller Lite advertisement adorns.

I'm told, as of 2015, that signage will be phased out, per the agreement.

On that note, I'm told the Cubs have entered a ten-year, $140 million, Budweiser signage deal that includes the right field signage, as well as the Jumbotron. The Cubs simply could not have Bud's main competitor having that ad intertwined. A deal had to be reached, and was.

I'm told these negotiations need be resolved by February 1. Tuesday could be the day an agreement will be reached. It could have been sooner, but Kenney was involved in traveling to LA to woo Masahiro Tanaka.

This deal will have some of the similar structure the rooftop owners agreed to ten years ago, and it will run until 2024. At that point, the rooftop owners will no longer have a stake in the game.

The rooftop owners have been mostly quiet throughout this process of late. However, Ricketts and Kenney's negative comments towards them at the Cubs convention this weekend didn't sit too well with some. I spoke with a prominent rooftop owner who has had a major role in these dealings.

"Ricketts is likening our agreement to looking through his windows, and he can't draw his own curtains? That really isn't a fair analogy when rooftop owners collectively paid near $4 million for the 2012 royalty", he says.

Seems everyone involved is ready to draw the curtains on this saga.

Filed under: Uncategorized

Comments

Leave a comment
  • What parts of the renovation do you expect to be done by opening day, if any?

  • In reply to Joshnk24:

    Prob not time for anything.

  • In reply to Tom Loxas:

    Not even the right field sign pictured above?

  • In reply to Joshnk24:

    That could be done tomorrow.

  • In reply to Joshnk24:

    I'm pretty sure this would just clear the way to have the project ready to start after the last 2014 game.

  • fb_avatar

    Crazy to think Budweiser makes more than 14 million a year at Wrigley

  • In reply to Patrick Fahey:

    TV.

  • fb_avatar

    I really hope that they can reach an agreement finally. That would finally give the Cubs an accurate time table for increased revenues.

  • fb_avatar

    Im a Cardinal fan to start with, so what I say may not ring with people here but, why are the Cubs even messing with the rooftop people. The way I look at it, they made a lot and I mean a lot of money off the Cubs for years and never paid a dime. If I was the Cubs I would tell them to shut up or we will move, then what will you do with all those rooftop seats. So Chicago do what you need to do, so people like me, can come and enjoy a game instead of worrying about finding a spot to park or hoping I can get back to the highway to get home. Tear some things down out there and open the damn place up. Then get a place you can take your family to that is a little more modern. Come on, really

  • In reply to Marc McMahon:

    Rooftops had agreement not to block views. Updating of Wrigley would do so, therefore this long negotiated deal.

  • In reply to Tom Loxas:

    Kenney made a point Saturday to say that nothing in the contract prevented the Cubs from putting up outfield signage that would partially block a view from the rooftops. The holdup was always with the Landmark status. This has been removed, thus the leverage the rooftops had is gone. So now they are singing let's make a deal.

  • I'm with you Tom, PLEASE let this be over and soon so all parties can get on with it (the city, the owners, and Cubs Mgmt).

    Although I'm not sure if I knew I had a huge negotiation that was going to impact my financial future for the next 10+ years I would appoint Crane Kenney to head it up, but the Ricketts sure seem to trust him.

  • fb_avatar

    You buried the lead.

    "It could have been sooner, but Kenney was involved in traveling to LA to woo Masahiro Tanaka."

    WTF?! Why was Crane involved in FA negotiations?

Leave a comment

  • ChicagoNow is full of win

    Welcome to ChicagoNow.

    Meet our bloggers,
    post comments, or
    pitch your blog idea.

  • Advertisement:
  • Fresh Chicago News

  • Recent Comments

  • Latest on ChicagoNow

  • Advertisement: