The Chicago Cubs and the the owners of nearby rooftop clubs met separately with administration officials at City Hall on Wednesday with an aim to to reach an agreement on a sign deal by week’s end.

 

Such a deal between the Cubs and rooftop owners could be a key component in a proposed $300 million renovation of the aging, historic Wrigley Field.

 

Mayor Rahm Emanuel has urged the Cubs, owned by the Ricketts family, and the owners of 16 rooftop clubs to come to an agreement so a much bigger rehab deal can get done. The pressure comes amid talk that an ordinance to increase the number of night games and concerts could be introduced at the next council meeting on Wednesday.

 

The rooftop owners have proposed allowing the Cubs to place signs on their buildings that they say would generate hundreds of millions of dollars for the Cubs in the next two decades.

 

In exchange, the rooftop owners are asking for a nine-year extension on their contract with the ballclub. Under that contract, now set to expire at the end of 2023, the rooftops share 17 percent of their revenue with the team.