Tom Ricketts (WBEZ/Tony Arnold)

The owners of the Chicago Cubs are trying to gain public support for their plan to get government-issued bonds to renovate Wrigley Field.

Cubs’ Chairman Tom Ricketts addressed the media Tuesday morning in a room full of business and labor leaders.

Ricketts thanked a number of them that showed up at the media conference, including Teamsters Local, Chicago and Cook County Building Trade, Chicago Bricklayers Local 21, Plumber Local 130.

Ricketts wants to take $200 million in bonds from the state and repay the money over time with taxes on Cubs tickets.

He has so far failed to get support for his plan from Chicago Mayor Richard Daley or Illinois Governor Pat Quinn.

“This public-private partnership would, in the long-run, create a significantly larger economic base in Wrigleyville and higher tax revenue for all levels of government,” Ricketts said.

Ricketts says he’s not certain what would happen structurally to the 96-year-old Wrigley Field if legislators don’t approve his bond plan. The framework has been patched over for years. Ricketts said one thing that’s not an option is moving the Cubs out of Wrigley Field.

Tuesday afternoon in Springfield, Illinois House Speaker Michael Madigan told reporters the Chicago Cubs were pulling their financial plan. A Ricketts’ family spokesman responded by saying their plan stands and nothing has changed.

“As we discussed in our press conference this morning with the state’s labor leaders, creating jobs and economic development is a top priority and we are working with elected officials to draft legislation and determine the best way to move forward as expeditiously as possible,” Dennis Culloton, a spokesperson for the Ricketts family, said in a written statement. “Nothing has changed and we are hard at work.”

Originally reported by Chicago Public Radio. Read the original article here.

Madigan says Cubs deal off, but Cubs say it’s still on | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

The elder Ricketts, founder of TD Ameritrade, recently started the nonprofit Taxpayers Against Earmarks (TAE), with the self-described mission of “educating and engaging American taxpayers about wasteful government spending and the misguided practice of earmarks.” As The Huffington Post previously reported, Ricketts also has an affiliated political group called the Ending Spending Fund, which spent a large amount of money in the Nevada Senate race against Majority Leader Harry Reid (D).

As Windy City Watch notes, in September, Ricketts recorded and posted a YouTube video of himself talking about wasteful spending, specifically mentioning loans that future generations will have to pay for:

I think it’s a crime for our elected officials to borrow money today, to spend money today and push the repayment of that loan out into the future on people who are not even born yet.

WATCH:

The Ricketts family owns the Chicago Cubs, and Tom — Joe’s son — is the chairman of the franchise. Tom is asking the state of Illinois to put up $300 million in bonds to help renovate Wrigley Field, but so far both Mayor Richard Daley (D) and Gov. Pat Quinn (D) are resisting — for the very reason that the elder Ricketts cites in his video.

“That would deny the next mayor — if I sign the agreement and say, ‘Go ahead’ — of the revenue they need to balance the budget,” Daley said. “And government needs money in order to balance budgets.”

“These are private owners of a baseball team,” added Quinn. “They spent almost $1 billion buying it. They knew what they were buying. To be coming to the people of Illinois for assistance now after an election isn’t a top priority. … If they wanted this to happen, they should have talked about it before the election — not after.”

TAE President Brian Baker said in a statement that federal and state spending are two completely different issues.

“Taxpayers Against Earmarks is concerned with the issue of waste, fraud and abuse in federal spending decisions — and advocates for changes in the broken Congressional budget and appropriations process,” said Baker. “We have advocated for transparency in the federal government and an end to the earmarking process. There are two very different ideas between fighting Congressional earmarks at the federal level and state-level spending decisions. Questions about state and local level spending decisions are best left to state and local officials and the voters.”

A spokesperson for the Ricketts family did not return an inquiry from The Huffington Post about whether Joe agrees with his son’s request for taxpayer money.

Originally reported by Huffington Post Chicago. Read the original story here.

Chicago Cubs Owners Rail Against Gov’t Spending While Asking Taxpayers For $300 Million To Renovate Wrigley Field | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

CHICAGO — Illinois Gov. Pat Quinn and Chicago Mayor Richard Daley are expressing skepticism about a plan by owners of the Chicago Cubs that seeks state help with the renovation of Wrigley Field.

Daley said Monday he likes the idea of keeping the Cubs at Wrigley Field for at least 35 years.

But he says he will not saddle his successor with a plan that hobbles amusement-tax growth.

The Ricketts family wants Illinois to float up to $300 million in bonds to finance renovations at the 96-year-old ball park.

The bonds would be paid off with the amusement tax currently paid by fans attending Cubs games.

Quinn says he is “very skeptical of the whole thing.”

Cubs owner Tom Ricketts tells the Chicago Tribune he doesn’t have a Plan B if the state rejects his proposal.

Originally reported by Yahoo. Read the original story here.

Quinn, Daley nix Ricketts’ plan for Wrigley Field | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

CHICAGO – The Chicago Cubs picked Mike Quade as their new manager Tuesday, choosing to go with the guy who ran the team well for the last six weeks of last season rather than a higher-profile name.

The 53-year-old Quade, the team’s third base coach the past four years, was given a two-year contract and there’s a club option for 2013. He served as interim manager after Lou Piniella abruptly stepped down in late August, leading the team to a 24-13 record.

The job will be his first as a major league manager.

The hire is the first under new owner Tom Ricketts, who watched the Cubs finish out of the playoffs yet again. Chicago’s infamous World Series championship drought now stands at 102 years.

The Cubs finished the season at 75-87, in next-to-last place in the NL Central and a far cry from what a team with a payroll of about $145 million to start the season had expected.

Saying he needed to be with his ailing mother back in Florida, Piniella stepped down Aug. 22 after the Cubs went into a 5-20 skid that left them at 51-74. He was in the final year of his deal and had put together three straight winning seasons, but could not get the Cubs out of their funk.

There was speculation that general manager Jim Hendry might hire Cubs Hall of Famer Ryne Sandberg, currently coaching at Triple A Iowa, or maybe bench coach Alan Trammel or a former major league manager like Eric Wedge or Bob Melvin.

Instead, Chicago went with Quade, who managed more than 2,300 minor league games in the Montreal, Philadelphia, Oakland and Cubs farm systems before arriving in Chicago.

The Chicago-area native was originally selected by the Pirates in the 22nd round of the 1979 Draft out of the University of New Orleans and spent four seasons as an outfielder in Pittsburgh’s minor league system before entering the coaching ranks.

He received his first managerial position in 1985, with Single-A Macon. He was promoted to Piniella’s staff after a running the Iowa Cubs from 2003-06, a stint that included two first-place finishes in his four seasons.

Cubs pick Quade as new manager (AP) | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

Some 66 years after he first visited Wrigley Field, Bud Selig returned Friday and toured the grounds with Tom Ricketts.

In some ways, the commissioner saw a younger version of himself in the Cubs chairman.

Ricketts will walk the concourse and buy food from the concession stands, like Selig once did at Milwaukee County Stadium when he ran the Brewers.

Selig called the Cubs one of those institutional teams, and at once they are a private business viewed as a public trust.

Year 1 is almost over for Ricketts and his family. New ownership took that time to learn about the business and baseball sides of the operation, though the years it took to complete the purchase from Tribune Co. gave them a head start.

The listening tour took them through the ancient ballpark and a Wrigleyville neighborhood that can be both welcoming and hostile. They visited the minor-league affiliates and met with reporters trying to figure out their angle.

For all their due diligence, the Ricketts family still faces major decisions on several different fronts. Cubs fans are still waiting to see what type of investments will be made with the major-league roster, where they should book flights for future spring-training vacations and who they will be second-guessing next season.

The Cubs started with an Opening Day payroll around $145 million, knowing that some contracts, like those with Derrek Lee and Ted Lilly, would fall off the books. Their financial commitments for 2011 will begin near an estimated $120 million.

Its unclear how much flexibility general manager Jim Hendry will be given, but it could mean the difference between acquiring a front-line starter or a first baseman or looking at solutions from within.

We havent made any decisions on where payroll will go next year, but I think it will be slightly lower than this year, Ricketts said Sunday, sitting in the dugout before the seasons final home game at Wrigley Field.

Within the past 11 months, Ricketts has brought in executives to oversee marketing (Wally Hayward) and corporate development (Alex Sugarman), as well as a manager of statistical analysis (Ari Kaplan). In the immediate future, Ricketts said he doesnt foresee another high-level hire joining the front office to help with baseball operations.

Ricketts will continue to travel between Chicago and Mesa, Ariz., as the Cubs try to secure their spring-training home for decades to come. That will hinge upon Proposition 420 outlined on the citys November ballot. Developers representing Naples, Fla., will be curious to see how voters respond.

Right now theres no Plan B, Ricketts said. Were just focusing on Mesa. If it doesnt work out, well just review our options at that point.

Around that time, the Cubs should have a new manager in place or they will have already reintroduced Mike Quade at a formal press conference announcing his hire.

Ricketts doesnt view the World Series as a hard deadline the Cubs may or may not be waiting for Joe Girardis season to end in New York and he doesnt want to rush into a decision.

We have a process in place where Jim is going to keep talking to folks and bring a few at the end of the season, Ricketts said. That will narrow it down and I will talk to them then. Im just looking forward to getting that process behind us.

Ricketts has already indicated that he doesnt need a manager to sell tickets Ryne Sandberg will be evaluated on his own merits but attendance has become an issue.

Wrigley Field has seen some of its smallest crowds in years, though the Cubs reached three million fans on Saturday for the seventh season in a row. Only four other franchises the Yankees, Angels, Cardinals and Dodgers are on similar runs. Ricketts said his staff hasnt made any final decisions on ticket prices for next year.

As for the Wrigley Field experience, there are no concrete plans yet for the proposed triangle building on Clark Street.

Ricketts implied that the facility will need significant capital improvements before the Cubs can host an All-Star Game, something theyve lobbied the commissioners office for to recognize Wrigley Fields 100-year anniversary in 2014.

By then Starlin Castro, Tyler Colvin and Andrew Cashner three players Ricketts mentioned by name should be established major-league veterans, if not All-Stars.

The chairman also cited the minor-league systems .542 winning percentage, which was second-best among all major-league organizations this season. Reinforcements are needed the Cubs havent spent a single moment above .500 this year.

Were very disappointed with the record, Ricketts said. But behind that I think there are some really encouraging things going on. (Were) really building a great foundation for the future.

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Building toward ’11, Ricketts expects drop in payroll | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

Building on the success of the 2009 NHL Winter Classic, which featured the Chicago Blackhawks and Detroit Red Wings at Wrigley Field, the new Cubs owners have arranged a full-size skating rink on the Cubs parking lot at the corner of Clark and Addison.

Named “The Rink at Wrigley,” the endeavor is sponsored by the Ricketts family, Ald. Tunney, the Chicago Park District, Westrec Marinas, the City of Chicago, the Chicago Blackhawks, McDonald’s and the Central Lakeview Merchants Association, among others.

“The Rink at Wrigley is a great way to bring winter fun to our community and to highlight our commitment to our neighbors and the City of Chicago,” said Cubs Chairman Tom Ricketts.

“We are excited to offer a family-friendly activity for our fans and neighbors at the ballpark during the off-season.”

Admission to The Rink at Wrigley is $10 per adult, $6 per child and may be purchased on site for the morning, afternoon or evening sessions.

Proceeds help offset the cost of the rink. Skate rentals will be available for an additional fee.

“The Rink at Wrigley will showcase our community and our city throughout the winter months,” said Ald. Tom Tunney.

“It is an exciting way to bring families and skaters to Lake View from throughout the city and suburbs and we greatly appreciate the generosity of the Cubs, the City of Chicago, all the sponsors and the Chicago Park District for making this possible.”

The Rink at Wrigley will be available to the public beginning December 15, 2009, through February 2010.

Hours of operation are Sunday through Thursday until 10 p.m. and Friday and Saturday until 11 p.m. Levy Restaurants will offer refreshments.

A Grand Opening celebration is planned for Saturday, Dec. 19, 2009, at 11 a.m.

For more information, visit rinkatwrigley.com.

“Rink at Wrigley” Set to Welcome Skaters in Shadow of Friendly Confines | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

Hayward will report to Cubs President Crane Kenney.

“Wally Hayward is widely respected throughout the industry as a dynamic leader and innovator,” said Kenney.

“He is a Chicagoan, he understands the fabric of our wonderful city and he has a keen appreciation for the passion and devotion of our fans given he is a lifelong Cubs fan himself.

“We have a talented sales and marketing staff in place and know Wally will lead this group to continued success as we look to redefine sports marketing for our business partners.”

“As a lifelong Cubs fan, I’m proud to be a part of the Chicago Cubs family under the new ownership of the Ricketts family,” said Hayward.

“I’m looking forward to partnering with Tom and Crane to change the game for the Chicago Cubs on and off the field. By offering innovative ideas, we will create an exceptional experience for Cubs fans and our corporate partners.”

A veteran of more than 20 years in the sports marketing industry, Hayward joins the Cubs after most recently serving as a senior advisor to Chicago 2016.

He helped develop the organization’s corporate sponsorship model and was the strategic advisor and liaison between Chicago 2016 and the United States Olympic Committee’s Sales and Marketing Team.

Prior to Chicago 2016, Hayward, 41, was the Chairman and CEO of Relay Worldwide, an experiential marketing and sponsorship consulting agency that counts many of the industry’s top corporations as its clients.

Founded by Hayward in 2001, Relay Worldwide began as a 12-person operation based in Chicago and in only four years grew revenues 650 percent and expanded to a staff of 130 people at nine offices in the United States, the United Kingdom and China. In 2005, Hayward merged London-based Sponsorship Intelligence into Relay Worldwide.

In recognition of Relay Worldwide’s tremendous business growth since its inception in 2001, Hayward was inducted into the SportsBusiness Journal’s Forty Under 40 Hall of Fame in 2008 after being honored for three consecutive years (2006-08) as one of the leading sports marketing executives below the age of 40 in the United States.

Hayward spent 13 years within Bcom3, Starcom MediaVest Group and Leo Burnett, building an internal sports and event marketing arm for the company’s top clients, before founding Relay Worldwide.

Hayward began his career at Lazin Sports Group working directly with the NFL Players Association.

A 1990 graduate of Northwestern University, Hayward, his wife Jenny and daughters Riley and Hope reside in Chicago.

Chicago Cubs Name Wally Hayward Executive VP, Chief Marketing Officer | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

Marking a return to family ownership, the Ricketts family today was formally introduced as the eighth ownership group in the 133-year history of the Chicago Cubs at a morning press conference at Wrigley Field.

On Tuesday, the family completed a financial closing to acquire a 95 percent controlling interest in the Chicago Cubs, Wrigley Field and 25 percent of Comcast Sportsnet Chicago.

Family members Pete, Tom, Laura and Todd Ricketts form the team’s board of directors. Tribune Company will retain a five percent interest in the enterprise and will also have a seat on the board.

Tom Ricketts, 44, will serve as board chairman and issued the following statement:

“My family and I are thrilled this day has finally come. We share the passion of Cubs fans for the team and Wrigley Field and are eager to go to work building the championship tradition all Cubs fans so richly deserve.

Building a consistent winning tradition on the field, while at the same time improving our 96-year-old ballpark, will not be easy and will not happen overnight.

From the beginning, we will promote excellence and accountability within the organization at every level. Our family will reinvest all of the club’s profits into the team and the ballpark for the foreseeable future.”

The closing of the deal, valued at $845 million, completes a more than two-year effort that started when Tribune Company put the team, stadium and broadcast interest up for bid.

On August, 21, 2009, the Ricketts family signed a definitive agreement with Tribune Company to acquire the assets. On October 6, Major League Baseball owners unanimously approved the transaction by a vote of 29-0.

The Ricketts family represents only the third Chicago Cubs ownership group in the last 90 years, 62 years of which were marked by family ownership. In 1919, the Wrigley Family, led by William Wrigley, Jr., purchased the Chicago Cubs from Charles Weeghman.

The Wrigley Family retained ownership of the franchise until 1981, when the family sold the club to Tribune Company.

Ricketts Family Assumes Control of Chicago Cubs | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

The Ricketts family has signed a definitive agreement with Tribune Company to acquire a 95 percent interest in the Chicago Cubs National League Baseball Club, Wrigley Field and Tribune’s approximately 25 percent interest in Comcast SportsNet (CSN) in a transaction valued at $845 million.

The Ricketts family will have management control of the joint venture as its 95 percent owner. Tribune will retain a five-percent ownership interest.

“Our family is thrilled to have reached an agreement to acquire a controlling interest in the Chicago Cubs, one of the most storied franchises in sports,” said Joe Ricketts.”

The Cubs have the greatest fans in the world, and we count our family among them. We look forward to closing the transaction so that we can begin leading the Cubs to a World Series title.”

The Ricketts family reached the agreement with Tribune after a thorough bid process that began more than two years ago. Tribune intends to proceed to a final transaction close without soliciting further bids from other parties.

“This joint venture will provide dedicated, local family ownership and management for the team,” commented Tribune Chairman Sam Zell.

“The Ricketts family will be a great steward of the franchise. They have a strong respect for the team, for the fans and for what the Cubs mean to the City of Chicago.”

Final closing of the agreement is dependent upon approval by Major League Baseball owners and bankruptcy court approvals.

As part of the court’s approval process, the entity holding most of the assets of the Cubs franchise will voluntarily file for Chapter 11 protection so that the franchise can emerge free and clear of Tribune Company’s financial obligations.

All obligations specific to the Cubs franchise – player contracts and agreements with sponsors, broadcasters, advertisers, suppliers and ticket holders – are not expected to be impacted by the court approval process, and there should be no interruption of team operations.

The court is expected to rule on approval of the transaction early in the fourth quarter of 2009.

About Tribune Company

TRIBUNE is America’s largest employee-owned media company, operating businesses in publishing, interactive and broadcasting.

In publishing, Tribune’s leading daily newspapers include the Los Angeles Times, Chicago Tribune, The Baltimore Sun, Sun Sentinel (South Florida), Orlando Sentinel, Hartford Courant, Morning Call and Daily Press.

The company’s broadcasting group operates 23 television stations, WGN America on national cable, Chicago’s WGN-AM and the Chicago Cubs baseball team.

Popular news and information websites complement Tribune’s print and broadcast properties and extend the company’s nationwide audience.

At Tribune we take what we do seriously and with a great deal of pride. We also value the creative spirit and nurture a corporate culture that doesn’t take itself too seriously.

Ricketts to Acquire 95% Stake in Cubs Franchise in $845 Million Transaction | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

The filing in Wilmington, Del., was anticipated and is expected to lead to a brief stay in Chapter 11 for the Cubs.

It comes as part of the Tribune Co.’s plans to sell the team, Wrigley Field and related properties to the family of billionaire Joe Ricketts, the founder of TD Ameritrade.

Tribune, which also owns the Chicago Tribune and the Los Angeles Times, filed for bankruptcy protection in December, but the Cubs were not included in the filing. The team’s run through Chapter 11 is expected to protect its new owners from potential claims by Tribune creditors.

Tribune bought the Cubs in 1981 for $20.5 million from candy maker Wm. Wrigley Jr. Co. It announced plans to sell the franchise in 2007, but got tripped up by the recession and the collapse of the credit markets.

It has agreed to sell the Ricketts family a 95 percent stake in a deal that tops the record $660 million paid for the Boston Red Sox and its related properties in 2002. Tribune Co. is keeping the remaining 5 percent.

Chicago Cubs File for Chapter 11 Bankruptcy Protection to Ease Transition to New Owners | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.