Thursday, November 11, 2010

Chicago Cubs owner seeks $200 million state aid for Wrigley renovations

1/11, "The owner of the Chicago Cubs is asking the state to help finance more than $200 million in renovations at Wrigley Field that will ensure the team stays at the historic ballpark for the next 35 years.
  • The Ricketts family, which purchased the team last year from Tribune Co. in a deal valued at $845 million, has pledged that the project will not be financed by new taxes or an increase in existing taxes...
The family’s plan calls for the Illinois Sports Facilities Authority, which owns U.S. Cellular Field, to float up to $300 million in bonds. The bonds will be paid over 35 years through amusement taxes that Wrigley Field customers already pay."...

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