Cubs

Cubs' Ricketts Reaches Out To Local Politicians In Effort To Save Wrigley Deal

Published May 23, 2012

Cubs Chair Tom Ricketts is "reaching out to black politicians and community leaders to try and control the political damage caused by his father’s involvement in a conservative super PAC that considered attacking President Barack Obama," according to Fran Spielman of the CHICAGO SUN-TIMES. Chicago Alderman Will Burns said Ricketts has "more work to do" if he hopes to save a $300M deal with the city to renovate Wrigley Field. Burns said, "I understand the father is separate from the Cubs. But, it’s hard to explain that to the general public at a time when you’re asking for public support." U.S. Rep. Jesse Jackson Jr. (D-Ill.) said, "The son is trying to execute a business plan, deal with local politics and refurbish Wrigley Field. And the son now has to go behind the father and say, ‘That’s not me.’ I know this position very well. I empathize with it. I feel for young Ricketts.” Spielman notes without support from the 19-member Black Caucus, the Cubs "have little chance of convincing the City Council to approve" a $150M million variation of the financing scheme that Chicago Mayor Rahm Emanuel "once called a 'non-starter' -- forfeiting 35 years’ worth of amusement tax growth." The Cubs also need council approval to "relax Wrigley’s landmark status" (CHICAGO SUN-TIMES, 5/23). In Chicago, Steve Rosenbloom wrote Ricketts "seems to have problems dealing with the public in an honest manner." Rosenbloom: "It doesn’t seem to matter whether the issue is small or large. Ricketts either lies because he thinks Cubs fans will buy it as part of a trained behavior or he is flummoxed by the spotlight, unsure of how Cubs fans will deal with the truth and unwilling to risk it. Either way, he can make himself look like a fool in a  hurry." Wrigley is "always going to need fixing." How the family navigates from "dad and his politics to Clark and Addison is the issue." If the Ricketts family "won't play the move card, and they won't, then they have ceded the power of the negotiations to the government, which means they need a friend" (CHICAGOTRIBUNE.com, 5/21).

A FAMILY AFFAIR: In Chicago, Phil Rosenthal notes although Tom Ricketts "led the effort of family members to buy into the baseball franchise and related properties, it also should enable Joe Ricketts -- even with no operational role -- to transfer funds across generations through an asset that stands to grow if properly managed." Joe Ricketts "made it clear to an Omaha audience in 2010 that the purchase of the Cubs from Chicago Tribune parent Tribune Co. involved his money" (CHICAGO TRIBUNE, 5/23).