The Wrigley Field Financial Times
The hot topic in Wrigleyville of late has been money. The Ricketts family have made updating Wrigley Field outdated facilities a initiative, but that doesn’t mean the they are willing to pay for it. Presenting a plan where the renovations would be made through public financing, Tom Ricketts has been under fire this week. The outgoing Mayor Daley opposed Ricketts’ plans for using public funds stating that giving the Cubs said funds would make it difficult for the city’s next mayor to balance the budget. The Ricketts have said they will match the public funds allocated to make the renovations, but the Cubs owners’ have plenty of skeptics. J. Joseph Ricketts (Tom Ricketts’ father) is worth around $1 billion in 2009. Ricketts become one of the wealthiest people in America after founding the world’s largest online discount brokerage, TD Ameritrade. You can’t really blame the Ricketts’ attempting to get some public financing with the rest of the city’s sport teams benefiting from similar government funding. With the current state of the economy, it’s certainly is not going to be easy to convince people to support the spending tax money going towards a stadium of any kind.