The Rosemont Cubs?

[Bob Cook]

Or, the better solution: The Ricketts should put up some of their own fortune to help make their own Wrigley renovation plan a reality. Privately built stadium like the Giants did in San Francisco? I bet Tunney and Rahm would stand down for that.

Not if it takes money away from all the bars/restaurants/rooftops in the neighborhood. And that's where the rub is with Tunney. There is a whole industry that stands to lose the more revenue that Wrigley can bring in-house. They, and Tunney, also can't conceive the Cubs would ever leave Wrigley, so they speak with no fear they will drive the Cubs out of the North Side. Heck, there are a fair number of those businesses that will continue to thrive even if the Cubs leave (though some wouldn't).

Rosemont would be an interesting location, because it would be far more accessible, to in-towners and out-of-towners. That Chicagoside piece complained how "complicated" the area is, but everybody figures out to get to O'Hare right next door. You're close to 294, 290 and 90. You're along the L. You have a Metra stop. heck, you can jet in for a game and leave that same day, or stay in one of a zillion hotels nearby with plenty of touristy shirt (like a casino). And, yeah, the revenue possibilities for the Cubs are enormous. Advertisers would pay enormous bucks for signage in the park, and facing out from it, given the incredible amount of traffic that comes by. Rosemont will give the Cubs anything they want, because it's basically a family dictatorship, so politics wouldn't be an issue. Really, all those hotels and restaurants there would welcome a new Cubs stadium with the most open of arms.

For all the money the Cubs make, I wouldn't be the first to point that they don't come even close to maximizing their income. Exhibit A: their local TV pays less than the Padres'.

http://www.chicagonow.com/cubs-den/2012/02/reality-tv-cubs-current-deal-is-bad/

 

[YankeeFan]

Bob Cook just handled a lot of what I would have said in response to Buck.

I'm not arguing that it would be a great deal for Rosemont, I'm saying they have the wherewithal to get it done. And, while not necessarily economically prudent, places like Rosemont are competing with places like Schaumburg for corporations, conventions, meetings, etc.

Cities love to be "Major League" and politicians love to leave a "legacy".

Rosemont can provide the Cubs with a very lucrative deal if they want to.

And, if the folks in Chicago don't think the Cubs would ever leave, then they are taking a bug risk.

As for the new stadium's benefits wearing off after five years or so, you have to remember something. Most of the stadiums being replaced are not so nearly antiquated as Wrigley is.

An upgrade from Wrigley, to a new modern stadium, with the luxury boxes, club seats, restaurants, etc. would bring in a fork load more revenue.

And one of the things that usually hurts these suburban stadiums/arenas is the lack of a corporate base to buy the high priced suites and season tickets. They're reduced to marketing to budget conscious families.

This just isn't the case for a Rosemont stadium. The corporate base is huge in the Chicago suburbs. They would snap up tickets.

Wrigley is not a great place to do business. A new stadium would be built with it in mind.

 

[Captain Obvious]

Bob Cook just handled a lot of what I would have said in response to Buck.

I'm not arguing that it would be a great deal for Rosemont, I'm saying they have the wherewithal to get it done. And, while not necessarily economically prudent, places like Rosemont are competing with places like Schaumburg for corporations, conventions, meetings, etc.

Cities love to be "Major League" and politicians love to leave a "legacy".

Rosemont can provide the Cubs with a very lucrative deal if they want to.

And, if the folks in Chicago don't think the Cubs would ever leave, then they are taking a bug risk.

As for the new stadium's benefits wearing off after five years or so, you have to remember something. Most of the stadiums being replaced are not so nearly antiquated as Wrigley is.

An upgrade from Wrigley, to a new modern stadium, with the luxury boxes, club seats, restaurants, etc. would bring in a fork load more revenue.

And one of the things that usually hurts these suburban stadiums/arenas is the lack of a corporate base to buy the high priced suites and season tickets. They're reduced to marketing to budget conscious families.

This just isn't the case for a Rosemont stadium. The corporate base is huge in the Chicago suburbs. They would snap up tickets.

Wrigley is not a great place to do business. A new stadium would be built with it in mind.

And would be corporate welfare.

 

[YankeeFan]

And would be corporate welfare.

Sure.

What does that have to do with the discussion? Chicago used corporate welfare to lure United Airlines to move its headquarters to the city from Elk Grove Township (right next to O'Hare). It happens all the time. Why should anyone be surprised that a municipality is willing to use corporate welfare to lure a trophy like the Chicago Cubs?

 

[LongTimeListener]

In other words, Captain, that's the good kind of useless government spending. YF likes some useless government spending.

 

[YankeeFan]

In other words, Captain, that's the good kind of useless government spending. YF likes some useless government spending.

I'm not in favor of it. It's a fact of life.

I'm happy to join in on a "bash corporate welfare" thread.

I just don't think Chicago should discount the possibility that the Cubs might take up an offer like this. At some point, the leverage will shift from the City, to the Cubs.

Do you want to be the Mayor that lost the Cubs? What's the value of those building with the rooftops if the Cubs move out of Wrigley?

Landlords all over Wrigleyville will not be able to command the rents they are getting now for retail/restaurant/bar space, or for apartments. The owners of Murphy's Bleachers and the Cubby Bear aren't going to be happy.The hotels will not be happy. The developers of the property on the south side of Addison won't be happy.

If they don't deal at all, and Rosemont offers up a stadium on a silver platter, the Cubs could very well take it.

 

[tmr]

The new cable deal isn't coming until 2019.

If they formed a CubsNet with Comcast, they could start it in 2014. But 2019 isn't so far away, considering Ricketts wants to keep team in family. Plus, their whole plan is about avoiding big-money free agents, keeping payroll around $100 million.

 

[RickStain]

Yeah. Their plan is stupid. But that's another story.

 

[buckweaver]

I'm not saying Rosemont couldn't make it happen and I'm not saying the Cubs would never take advantage of it.

What I am saying is a lot of cities bigger than Rosemont have tried to "become major league" and built large stadiums with public funds and stars in their eyes. And it doesn't bring in nearly the revenue promised ... except to the team owners.

And in 20 years, when the Ricketts heirs hold Rosemont hostage for their "outdated stadium" and threaten to move back downtown, as so many owners do, what does Rosemont do then? Look at what the Falcons are doing with the Georgia Dome. And on and on.

 

[YankeeFan]

I'm not saying Rosemont couldn't make it happen and I'm not saying the Cubs would never take advantage of it.

What I am saying is a lot of cities bigger than Rosemont have tried to "become major league" and built large stadiums with public funds and stars in their eyes. And it doesn't bring in nearly the revenue promised ... except to the team owners.

And in 20 years, when the Ricketts heirs hold Rosemont hostage for their "outdated stadium" and threaten to move back downtown, as so many owners do, what does Rosemont do then? Look at what the Falcons are doing with the Georgia Dome. And on and on.

No disagreement on any of these points.

 

[RickStain]

http://www.bleedcubbieblue.com/2013/3/26/4148562/cubs-opening-day-tickets-not-selling

Possibly thousands of unsold tickets, Cubs looking at first non-sellout on home opener since 1997. Combination of absurd prices, terrible weather, worse team.

 

[Bob Cook]

I'm not saying Rosemont couldn't make it happen and I'm not saying the Cubs would never take advantage of it.

What I am saying is a lot of cities bigger than Rosemont have tried to "become major league" and built large stadiums with public funds and stars in their eyes. And it doesn't bring in nearly the revenue promised ... except to the team owners.

And in 20 years, when the Ricketts heirs hold Rosemont hostage for their "outdated stadium" and threaten to move back downtown, as so many owners do, what does Rosemont do then? Look at what the Falcons are doing with the Georgia Dome. And on and on.

Knowing the family dynasty of Rosemont, they are more than happy to milk it for what it's worth for 20-25 years to see what happens. After all, it's still 25 acres by O'Hare, and someone will jump in if a ball team moves out, or never moves there in the first place.

Rosemont is not like most towns -- only 4,000 people, but 13.5 million square feet of office space, multiple large corporate headquarters, an 850,000-square-foot convention center, 5,600 hotel rooms, a 17,000-seat arena and transportation options out the wazoo. O'Hare ain't going anywhere, either. I presume the baseball park is a carrot to get even more tourist and corporate business.