Tuesday, May 13, 2008
Chicago Cubs Baseball
This makes me happy. Yes, that Sam Zell will not let former Illinois Governor Jim Thompson and his Illinois Sports Facilities Authority turn Wrigley Field into another U.S. Cellular Field (a disaster of a park if I ever saw one) and sell equity seat rights, which requires a person to sign a long-term contract to buy a specific seat for a price that is either fixed or rises in an agreed-upon way, much like a fixed or adjustable-rate mortgage.
I can imagine it now - selling sub-prime seats to a baseball game. No money down. And a balloon mortgage at that. What happens if the buyer defaults? Does the bank forclose on the seat? "Sorry, jerk. Give up that popcorn and hot dog. You're outa here."
Maybe there will be some kind of insurance clause to go with it - like to purchase seats, you have to get pre-authorization from your insurance company. And if you are lucky enough to get a generic seat, it will cost only $10; but if you have to have something that's non-formulary, well, it will cost you your first-born. But you can see the game, right?
Maybe the seats will only be available to people who have never thought about recycling their plastic, and drive Hummers (don't they still get subsidized gasoline?)
I digress. I love the Cubs. I'm glad that Thompson won't get the park. I like this bit of history. But frankly, I think that the greed that's involved ruins the game.