Chicago Mayor Richard Daley is not throwing his support behind a proposal to renovate Wrigley Field with taxpayer money. The owners of the Chicago Cubs, the Ricketts family, approached the mayor with a plan. They want to borrow about $250 million from the state for renovations and repay the money over time in taxes on ticket prices. Daley said the proposal has serious problems.
“I understand the concept, but like anything else I think we have to really talk about how you finance this without jeopardizing whether it’s $5 million, $7 million, $8 million of future growth to the City of Chicago,” Daley said.
Daley said he has an alternative idea, but he wouldn’t address it publicly. The Ricketts’ plan would need approval from state legislators.
