Boilermaker Rick wrote:
Elmhurst Steve wrote:
Yes. The team saves hundreds of millions by allowing the city/ state to own and maintain their ballpark. The team still gets all the broadcast revenue (which is far greater than ticket revenue) as well as sharing the ticket revenue and parking and concessions. The Cubs had the burden of having to spend hundreds on millions, while the city and state sit back and collect millions in taxes from the ball club as well as surrounding businesses. All while providing absolutely no financial assistance. So as I said, were I in the shoes of Tom Ricketts, I would re-pay the city NOTHING towards the costs they incurred. They already have poured millions into neighborhood improvements, as well as the development and improvements of local parks.
What are you talking about? The Cubs easily could have sold Wrigley Field to the city for $1. They make significantly more money owning their stadium.
Of course he isn't going to pay for anything he doesn't have to. He'll stick the city with the bill.
Yes, they will make a lot more money because they own the ballpark outright. But the initial cost of hundreds of millions is still their burden to bear. The old saying "You have to have money to make money" applies here. They have the capital to pay for the ballpark's improvements, build a hotel, a plaza and buy up buildings around the park. That is a lot of expense to lay out. But once all the construction is complete and they have a new broadcasting deal (if not their own broadcast station), they will be raking the money in, with minimal costs. But the initial cost for all the improvements in the park and surrounding structures are costs most teams never have to pay for. The fucking White Sox will probably pay nothing to the state this season for the use of their ballpark (that the state built and maintains) because the attendance is likely to fall well below the threshold established in negotiations that require the team to pay out for the use of the facility. Ridiculous. Should have let that steaming pile go off to Florida.
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