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State Talks To Buy Wrigley Field Hit Tax Snag

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Jun 9, 2008 9:27 pm US/Central

State Talks To Buy Wrigley Field Hit Tax Snag

CHICAGO (AP) ― Negotiations between Tribune and a state agency that wants to buy Wrigley Field have broken down over how to finance the deal.

That's according to former Illinois Governor Jim Thompson who's also the executive director of the Illinois Sports Facilities Authority.

The cash-crunched media conglomerate has told the ISFA the sale requires new taxes. The sale may also require the transfer of future sales and amusement tax revenue from transactions at Wrigley Field for the next 30 years, or moving money the ISFA has already promised for projects at U.S. Cellular Field.

Thompson says the ISFA wants a transaction that wouldn't involve taxpayer money and thus could gain approval from city and state officials.

The ISFA already owns the Chicago White Sox's U.S. Cellular Field.

(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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