New Owners Should Sell Naming Rights of Wrigley Field

It won't be the most popular move, but it be will the smart move.  Once the Ricketts family officially takes over as Cubs owner, they will likely sell the naming rights of Wrigley Field. 

Last March, Cubs chairman Crane Kenney confirmed that the Cubs were approached by at least three companies interested in purchasing naming rights of Wrigley Field. Most professional franchises significantly increase revenue with inside advertisement, unfortunately advertisement is limited inside of Wrigley Field due to its landmark status. 

During the past few years the Cubs have been very creative working around the landmark status.  The Cubs have done numerous things to increase revenue.  They've renamed the bleachers, the "Bud Light Bleachers" while adding the "Chicago Board Options Exchange Seats" which are auctioned off. 

Along with finding ways to increase revenue, the Cubs have increased ticket prices.  Much of that money has gone towards the payroll and minor maintenance to the ballpark. 

Unfortunately, Wrigley Field is in a major need of a renovation.  A major renovation is going to cost a lot of money.  Much of that money can be obtained by selling the parks naming rights.  Some will see this move as the Cubs selling out, but others will see it as a very smart business move.

There's no doubt in my mind that this move will anger many Cubs fans.  That said, if the Ricketts family wants to continue to compete and play at Wrigley, they will sell the naming rights of Wrigley Field.

Selling naming rights to corporate companies is nothing knew in professional sports.  The White Sox, Indians, and Giants are just a few of many teams to sell stadium rights.

Regardless of who buys the naming rights of the ball park at 1060 West Addison, it will always be known as Wrigley Field on the inside.  The marquee will not be replaced, but the words of Wrigley Field will be replaced.

More revenue will likely mean an increase in payroll, and many more years in the greatest park in all of sports.