Wrigley Expansion - Wrigley Field, Chicago Cubs

Rooftop owners help pave way
New revenue streams key Cubs' pursuit of Maddux

By Paul Sullivan
Tribune staff reporter

February 19, 2004

MESA, Ariz. -- If Greg Maddux helps pitch the Cubs into the World Series, an unlikely alliance of Mayor Richard M. Daley, 50 aldermen and 10 rooftop owners can pat themselves on the back.

According to Cubs management, the Maddux deal would not have been possible without the added revenue from having 200 new premium seats behind home plate, the four additional night games in '04 and 17 percent of the revenues from the game-day rooftop parties on 10 buildings on Waveland and Sheffield Avenues.

All told, the Cubs figure to bring in an estimated $7 million in added revenue in '04 because of those three new revenue streams, or just below the average annual value of Maddux's new $24 million deal. After making their revenue sharing payments, the Cubs still should bring in around $3 million for the added night games, $2.7 million from the premium seats and $1.2 million from the 10 rooftop owners who agreed to the 17 percent solution last month to end legal action from Tribune Co. for copyright infringement.

With a total payroll of around $92 million, the Cubs could surpass Los Angeles for the highest payroll in the National League, trailing only the New York Yankees, Boston and Anaheim in the majors. General manager Jim Hendry said Wednesday the new revenue streams helped him persuade his bosses to increase his budget enough to sign Maddux.

"I really felt like when we signed Todd Walker (on Dec. 23) we were finished," Hendry said. "I even told Greg that when we started [discussions]. I'm not holding back anything. Obviously without the additional income we'll have from the rooftops and behind-the-plate seating, I doubt if we would have been able to [sign Maddux]."

Hendry said club President Andy MacPhail and Executive Vice President Mark McGuire "did a tremendous job working with the city and the neighborhood. I think this shows the people of Chicago and the Cub fans that when we can produce more revenues like that, we'll put it right back into the ballclub, which is what they want. Obviously today would be a pretty good example of that."

In addition to granting the Cubs additional night games, the city council conferred landmark status on Wrigley Field last week in a compromise that allows the Cubs to make some cosmetic changes, including the addition of the 200 premium seats. Those seats are under construction and scheduled to be ready for the home opener April 12 against Pittsburgh.

Unlike most of the box seats between first and third base, the premium seats will be made available to the general public, albeit at a cost of between $200 and $250 per seat. The Cubs haven't announced when the seats will go on sale, but they definitely won't be available Feb. 27 when the rest of the individual game tickets go on sale.

The Cubs also will be permitted 22 night games in '04, 26 in '2005 and 30 beginning in '06. Mayor Daley endorsed the 12-year deal after years of haggling, and the city council unanimously approved it. The additional revenue should help the club make long-term commitments to upcoming free agents Kerry Wood and Derrek Lee, whose contracts are likely to be back-loaded. The Cubs could have even more revenue streams in the future through their proposed bleacher expansion, which is currently on hold.

Though the Cubs are usually in the upper quarter of teams in payroll, they have had to fight off the label of being cheapskates since letting Maddux go as a free agent after the '92 season. Times change, and Hendry said the Cubs made a statement to their fans with the Maddux signing and the highest payroll in club history.