Great post from an NSBB poster.
The Cub plan doesn't/didn't ask for the City to give the Cubs any currently generated Chicago money. Cub FANS pay apx $16 million per season as an "entertainment tax" (way more than any other Chicago team) when they purchase their tickets. Generally, these types of taxes exist to offset the cost that a municipality pays in supporting the entertainment (this usually includes the municipality having a financial stake in the stadium but Wrigley is 100% owned by the Cubs). In addition to the $16 M that Cub fans pay, the Cubs pay millions more for extra security (police) and cleanup before, during and after games and events (again, a part of what the "entertainment tax" is SUPPOSED to be for).
What the original Cub plan proposed was, in part, for the "entertainment tax" to be capped at 2009's level (the $16M) for a given period (IIRC, 15 years) and any further generated revenue (generated ONLY because of further investments in Wrigley) be used as security for a bond (the expected means of paying off said bond would actually be the 2% sales tax on hotels that also pays off the Bears and Sox bonds).
Again, that is WAY fair because:
A) Cub FANS pay way more in the "entertainment tax" than Bear fans, Bull fans or Sox fans (nearly double the Bears and quadruple the Sox).
The Cubs receive BY FAR the smallest benefit from the City.
C) The City claims that future Cub "entertainment tax" growth belongs to the City YET the City proposes to do NOTHING to grow it.
D) Cub FANS are taxed more than the other teams by the 2% sales tax on hotels because a much higher percentage and number of Cub fans come from outside the area (and, thus, use area hotels--roughly 1/3 of the 3M Wrigley attendees are from outside of the area).
E) The Cubs are hamstrung when it comes to improving income sources at Wrigley because of it's monument status (i.e can't generate 20-30 million per year via a JumboTron). The only way to get sufficient revenue increases from crumbling Wrigley is to get substantial structural improvements that allow for greater amenities.
All of the above shows that the City/County/State has NO SKIN IN THE GAME! They get taxes ("entertainment tax," 2% hotel tax, 10% sales taxes on Cub fans spending $, income taxes on Cub and area employees), the team pays millions for services, etc. all to the tune of millions and millions of dollars and the City does what in return? They limit when the Cubs can play and what they can do to their own freaking stadium--the Cubs have more restrictions placed on them than any other major sports team in the U.S.
Look, it isn't just the Cubs but, ultimately, Cub fans
that are getting screwed. The "entertainment" and hotel taxes are paid directly by Cub fans. The millions extra for security and clean up comes from monies generated by Cub fans.
To your point of a financial crisis... Neither the Cubs nor Cub fans caused the City's (or county's or state's) crisis and they shouldn't be expected to pay more than they are now to bail them out of their self-made sinking ships. The Cubs are, and will continue to be, a cash cow
for the City, etc. (easily
over $300 M per year in local revenues NOT including the Cubs take). If the City wants to see that in
crease then the City needs some skin in the game.