http://www.chicagotribune.com/news/ct-sox-cell-funding-isfa-met-20160521-story.html
Though the ballpark has now been paid for, a variety of taxes continue to underwrite millions of dollars' worth of renovations for a facility economists say has limited economic impact on Chicago.
"The return of investment is really low, maybe negative" for the public, University of Chicago sports economist Allen Sanderson said.
Payments for bonds funding the stadium's construction were completed six years ago. But the Illinois Sports Facilities Authority, the public agency that owns and operates the Cell, has other responsibilities: nearly $430 million in debt related to renovations at the ballpark and a major overhaul of Soldier Field, including $36 million in payments owed this year.
Then-Gov. Jim Thompson worked the floors of the General Assembly to pass a law creating the facilities authority in order to build a new ballpark. (Thompson later served as the authority's board chairman.) The clock on the House floor was turned off in order to meet a midnight deadline.
the deal requires any nonbaseball events to be approved by the Sox, which some have said deprives the authority of the opportunity to book concerts and other lucrative activities.
the authority paid nearly $7 million to build a 10,000-square-foot restaurant outside the stadium, now called the ChiSox Bar & Grill. The team pitched in $1 million, but the authority agreed to forgo any profits at Reinsdorf's request.????????????
Under the deal, the Sox didn't have to pay a fee for use of the stadium until 2008. In 2015, that fee amounted to about $1.6 million.
The Sox also must pay a fee on each ticket sold in excess of 1.93 million in paid attendance. Since 2008, the Sox have paid that fee only in 2010, when games drew 2.2 million fans. However, the Sox were allowed to apply a credit based on the taxes the team paid that year, reducing the ticket fee payment from $455,974 to $95,531.
Despite leading its division this season, the Sox have the second-worst total attendance in baseball.
In 2001, state lawmakers passed legislation so the authority could issue bonds for renovations at Soldier Field — changes that then-Mayor Richard Daley and others said were needed to keep the Bears in Chicago. (AKA The NO DOME DEAL)
And MY FAVORITE PART!!!!!!!!
[b]Sox spokesman Scott Reifert defended the arrangement with the authority and said the Sox turned down a "better" deal to stay in Chicago.[/b]
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