Monday, March 30, 2009

Come To Think of It: Cubs Need Creative Revenue To Maintain Competitive Balance

by Bob Warja


Chicago Sun-Times columnist Carol Slezak wrote an article in Sunday's newspaper titled Bad-neighbor Policy at Work. Her main premise is that the Chicago Cubs "disregard responsibility to the community (by hosting) concerts (and wanting) more night games."

Well I say tough baseballs, Ms. Slezak. If you want the benefits of living around Wrigley Field, you have to accept the good with the bad.

Property values and rooftop revenues are the financial benefits of living near the Cubs ballpark. Yes, the night games and concerts come with increased traffic and the occasional drunk pissing on your lawn. But let's face it, the ballpark was probably there before you were. And you can't have your cake and eat it too—reaping the benefits while whining about the inconveniences.

Of course, Slezak used to live in the Lake View neighborhood, so she has a biased opinion. Plus she's a White Sox fan. But Wrigley is old and lacks many of the revenue-generating amenities that the newer ballparks boast. So they must make money where they can.

And if that means being creative and squeezing out every dollar that the area will produce, then so be it. That's what may be necessary to keep up with players salaries and remain competitive.

New owner Tom Ricketts will certainly want to move forward with plans to increase parking and build restaurants and bars inside Wrigley Field's "inner circle," to bring in some of the fans that have historically spent their money at other establishments surrounding the park.

Patterned after the Fenway Park model in Boston, Ricketts and Co. will look to maximize their revenue. After all, he is a businessman. Yes, he's a fan, but I'm sure he doesn't want to lose money. And I'm equally certain that part of the lure of owning the Cubs is all that untapped potential income.

Sure, if you're Murphy's Bleachers, for example, and you've been there through the lean times when the park was relatively empty, you may feel like this plan isn't fair. But what the Cubs need to do is to tell the bar owners "Look, you can either go out of business or you can pay us a percentage of your profits, and if you can't beat us, join us."

The Cubs own land around the ballpark, so why should they let the neighborhood businesses make a profit off the Cubs success without the team taking its proper share?

It may seem harsh, but it's business in a difficult economy, folks. You can't scream for the Cubs to buy free agents and then oppose their attempts to make additional money.

It's a choice, really. You can fight it to your detriment or you can accept the inevitable. No more Mr. Nice Guy. No more Friendly Confines, come to think of it.

Source: bleacherreport.com

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