Rooftop Seat + Night Games = Lovable Winners?
Using three new revenue streams, the Chicago Cubs were able to sign free-agent pitcher Greg Maddux, giving them what is arguably the best pitching rotation in baseball and making them one of the favorites to win the World Series this year. The additional revenue sources were all city related. First, the owners of buildings within viewing distane of Wrigley Field agreed to give 17% of their rooftop-seat revenue to the Cubs. Second, the city authorized more night games, which the team make more money off of. Finally, the city made an agreement that would allow the Cubs to make some cosmetic changes in exchange for giving Wrigley Field landmark status. The cosmetic changes include 200 premium seats to be sold to the public at $200-250 per ticket. The sum of these three new revenue streams almost exactly match the annual rate of Maddux's contract.
Thanks to Peter Christensen