CHICAGO (CN) – The Chicago Cubs’ new owners want cash-strapped Illinois to help renovate Wrigley Field. The Ricketts Family, which bought the Cubs in 2009 for $845 million, wants up to $300 million in Illinois state bonds to finance the renovations. The bonds would be paid off from the amusement tax already in place at the park.
Cubs Chairman Tom Ricketts told The Associated Press that the plan is to try to save the 96-year-old stadium, not to add seats to it.
The Illinois General Assembly must approve the plan.
But the Assembly faces a budget deficit of $11.5 billion. The deficit was a major point of contention in the governor’s race this month. Gov.-elect Pat Quinn, a Democrat, will get to wrestle with the problem, after defeating Republican Bill Brady by 19,413 votes of 3.5 million cast.