AP-IL-Thompson: New Proposal on Ball Park Ready
AP-IL-Thompson: New Proposal on Ball Park Ready Save Email Print
Posted: 8:02 AM Apr 30, 2008
Last Updated: 8:02 AM Apr 30, 2008

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Thompson, who is chairman of the agency, says the plan would allow the ISFA to acquire and fully restore Wrigley Field, as well as add parking and neighborhood improvements. He says the bid will be handed to Tribune Company shortly. Cubs chairman and Tribune senior vice president Crane Kenney says media giant is still interested in doing a deal with the ISFA. Thompson says financing would be obtained in the private sector, with no issuance of bonds by the state. He says team lease payments and the sale of partial naming rights would cover the cost of purchasing the park. Thompson, who declined to disclose what revenue stream would pay for the renovation, estimated the cost at about $400 million.

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