According to a report from the Tribune, City Hall is pressing the Cubs and the rooftop club owners to reach an agreement on a sign deal by the end of the week. Ald. Tom Tunney said the two sides are trying to put something together but “it’s hard to corral all of the interested parties.”
The Cubs and rooftop club owners met on Monday then separately with officials from City Hall on Tuesday. Mayor Rahm Emanuel “has urged the Cubs and the owners of the 16 rooftop clubs to come to an agreement so a much bigger rehab deal can get done.” According to the Tribune, the reason for the urgency is due to a council meeting on Wednesday to discuss an ordinance to increase the number of night games and concerts.
The rooftop club owners have proposed a deal that would allow the Cubs to place digital signs on their rooftops and the team and city would split the estimated $10-$20 million annual revenue generated by the signage. The rooftop club owners would like to see the city use the money to add parking and a greater police presence in the neighborhood. In exchange for allowing the signs to be installed on their buildings, the rooftop club owners are looking for a nine-year extension on their current contract with the team. The current agreement between the two sides was reached in 2004 and runs through 2023.
Full Report from Chicago Tribune