Report: Cubs, city of Chicago close to $500 million Wrigley Field deal

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Wrigley Field will be taking on a different look. (Getty Images)

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According to the Chicago Sun-Times, the Cubs and the city of Chicago will soon finalize a deal to undertake $500 million in renovations to Wrigley Field. The deal is expected to be in place by Monday's home opener. 

Among the likely changes to the ballpark that dates back to 1915 are a video scoreboad, additional advertising signage within the park and a parking garage. As well, rooftop proprietors are expected to continue their revenue-sharing arrangement with the team, although that agreement won't be extended beyond the agreement that was already in place. The Sun-Times also cites a source who says the Cubs will also be permitted to host more night games per season.

In addition to $300 million in ballpark renovations, the plan includes construction of a $200 million hotel across the street from Wrigley. Provided zoning restrictions are lifted and or eased, Cubs ownership is expected to privately finance the entire project.

RELATED: Drawings of Cubs' plans for Wrigley Field

CBS Sports Writer

Dayn Perry has been a baseball writer for CBS Sports since early 2012. Prior to that, he wrote for FOXSports.com and ESPN.com. A member of the BBWAA, He's the author of three books, the most recent being... Full Bio

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