This morning on WSCR 670 The Score, the idea of Tom Ricketts and the Chicago Cubs buying the rooftops was suggested to representatives of both the Cubs and the rooftop owners. Strangely enough, the idea was not shot down by either side which leads to the possibility that this may be the end game both sides are hoping for. This would be the best outcome for everyone, and make both sides a lot of money.
In what has become a very tiring story, the Cubs want to expand, renovate and restore Wrigley Field to modernize the place and to maximize the potential revenue the team can generate each year. At the present moment, as everyone should know, the rooftops are holding fast to the contract that was signed 10 years ago, which still has 10 years left to go. The rooftops are the only roadblock which is preventing the Cubs from even starting their $500 Million project, and this has led to many stories, interviews and now a lawsuit being filed between the two sides.
If the Cubs do wind up buying out the rooftops and owning the buildings, the potential revenue income would be outstanding. There would be no one standing in the way of anything the Cubs wanted to do, or where they could put signs, videos boards at all. Yes, I said video boards, they could put up one in each field and no one could prevent them from doing so. They would be able to post signage on the rooftops if they wanted, and no one would be able to stop them.
Going another path, the Cubs could turn the rooftops into a giant revenue generating source by turning them into their own sky boxes, charging a premium for a legitimate Cubs themed atmosphere complete with Cubs themed restaurants.
While purchasing the rooftops will not be easy, or come cheap. The rooftop owners will likely want to grab as much money as possible from Ricketts to compensate them for their loss in revenue. A good starting point for the rooftops would be their total income from the first 10 years under this contract as a way to project how much they would have made in the final 10 years of the deal. Each rooftop would then be bought out for that total.
The Cubs would likely negotiate that down a bit to save a few million, but the potential for a deal is very alive and from the sounds of the interviews this morning could be very likely. In the end, this could very well be the best end to this seemingly never ending saga.
In what has been pointed out in several places, the Cubs likely have the advantage in any legal hearing, but the case will be long and dragged out until the rooftops have attacked this case from every possible angel.
If any of the rooftops are reading this, even though the Cubs do not have a slam dunk case, they have a pretty solid one. I do suggest that you save yourself the time and money and sell to the Ricketts family. You will walk away will millions and can start another business project and allow the Cubs to get on with their business plans. If you were Cub fans (as you claim to be) this is win win for you.