Cubs Chairman Tom Ricketts Reveals Team Went Way Over Budget on Wrigley Field Renovations
Well, this must be very reassuring for Cubs fans. Team Chairman Tom Ricketts has admitted that the cost of renovations to legendary Wrigley Field has cost him and the team's ownership group a great deal more than anticipated.
Ricketts projected that the budget for the renovations exceeded the intended budget by 100%.
Cubs Chairman Tom Ricketts, on the cost of Wrigley Field renovations: “We probably missed our budget by around 100%.” #SBJDEALMAKERS pic.twitter.com/NmYZ89gPih
— Sports Business Journal (@sbjsbd) December 4, 2019
A mismanagement of the budget on this scale should be a cause for concern from fans, as a blunder on that level (from a guy with his own investing company) can trickle down into the team's personnel decisions.
Seems like Tom isn't giving Theo any leeway in going over budget even a bit even though Ricketts apparently can't budget for shit.
— Scott Stevens (@TheManInCannes) December 4, 2019
It's worth drawing upon this story over the course of this offseason, as we see exactly what impact Ricketts' blown budget has on the Cubs transactions. With key players like Kris Bryant and Willson Contreras reportedly on the trading block, the Cubs appear to be in sell mode. Whether or not that has any correlation to the expensive Wrigley Field renovations, is another story altogether.
As it stands right now, the Cubs should be in a decent position to compete next season. Should they choose to blow things up, that may no longer be the case.