$75 million in Wrigley rehab tax credits at stake

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A large financial piece of the Chicago Cubs’ $375 million renovation of Wrigley Field remains unsettled after the team made significant revisions to its plans this year, including more outfield advertising.

At stake is up to $75 million in federal tax credits the Cubs are counting on to upgrade the 100-year-old ballpark.

But the National Park Service, which manages the tax program with the IRS, has not approved key elements of the project, including the controversial five additional outfield signs the team has proposed.

In a memo to the Cubs obtained by the Tribune, the agency expressed concern about advertising overkill at Wrigley, which is known for its ivy-covered outfield walls, hand-turned scoreboard and intimate dimensions as opposed to typical corporate billboards at every other baseball stadium.

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