January 20, 2008
Sell Stadium, Then Team
The Tribune Company wants to sell Wrigley Field before they sell the Cubs:
Crane Kenney told attendees of the team's annual fan convention that new Tribune owner Sam Zell wants 94-year-old Wrigley in the hands of the Illinois Sports Facilities Authority -- the same state agency that funded stadiums for the Bears and White Sox -- before he accepts bids for the Cubs.
Kenney said such a move is designed to "bind" the team's next owner to keeping the Cubs playing at Wrigley -- which also would receive maintenance and improvement funds.
If I were buying the Cubs, I'd want Wrigley, too. I wonder if Zell is going to lose money by separating the entities?
Posted by David Pinto at
07:49 PM
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He might lose money, but I'll bet he's thinking it will be easier to unload Wrigley right now, and that gives him money now and gets him out from under any needed improvements.
If I were the Illinois Sports Authority, I'd conduct a very detailed inspection before buying the property. Not that Wrigley is unsafe, but I'll bet it violates lots of health/safety/building codes just by virtue of its age.
Remember though that Wrigley is a protected landmark, and that any changes to certain parts of the park require approval from the city... So it's not like you would have full control.