Friday, December 21, 2007

Taxpayer's Shouldn't be on the Hook for Wrigley Deal

Not long after Mayor Daley soundly rejected the publicly-financed purchase of Wrigley Field, someone over at Zell Corp. is floating a new trial balloon.

They are putting naming rights on the table, which the city could then turn around and sell and us the proceeds to pay off the bond. Presumably, the city will be left with a little extra annual cash windfall from the deal. Member initiative money for the members of the City Council to fulfill their annual wishlist.

If such a deal is struck, the city and its taxpayers should not be left on the hook for needed capital repairs of the stadium.

Read the Crain's Chicago Business story here. Nice work by Mike Colias and Ann Saphir.


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