So exactly what deal do the Cubs and their owning Ricketts family want from Mayor Rahm Emanuel in the recent talks about how to rebuild Wrigley Field?
Someone who would know has given me the details. Though things are still moving around, the public is being asked to put in both less and more than you might suspect.
On the table is a $500 million or so plan — $300 million to reconstruct the nearly century-old Wrigley and $200 million for the “Triangle” parking, entertainment and multiuse structure off the west wall of the ballpark.
The family and/or team would pay for the Triangle building. That means $300 million is needed for the ballpark proper.
Half would come from the team, presumably in increased revenue from more signage inside Wrigley and retail and other entertainment in what amounts to a game-day carnival on Waveland Avenue on Wrigley’s north side and Sheffield Avenue to the east.
And half would come from $150 million or so in bonds to be retired with increased revenue from the existing city and Cook County amusement taxes on ticket sales. Specifically, debt service would get the first 6 percent in growth above a base level of around $15 million a year now.