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View Full Version : Illinois Authority to review Reinsdorf's lease on US Cell


thegooch
10-25-2011, 08:36 AM
Seems unfair to review a lease when you don't like the terms later. Unless, something illegal occurred.

http://www.chicagobusiness.com/article/20111025/BLOGS03/111029885/illinois-authority-plans-to-examine-reinsdorfs-u-s-cellular-field

mrfourni
10-25-2011, 09:14 AM
If this ever goes anywhere, I'll put my money on the billionare real estate attorney and CPA with a long term lease agreeement over Emil Jones.

gobears1987
10-25-2011, 09:28 AM
The state must be desperate.

SI1020
10-25-2011, 11:46 AM
The state must be desperate. It is and because of the rules here I can't go any further.

soxfanreggie
10-25-2011, 11:50 AM
He is right; he can review it. He probably has a nice copy in his office to read over and over again. Good luck actually changing it though!

A topic ripe for discussion over at PI though.

Irishsox1
10-25-2011, 03:15 PM
Examine the terms of the lease all you want Pat Quinn, nothing is going to change at all. The lease has been in effect for 20 years and now it's a problem?

Mod edit: political statement removed.

No politics. Tax policy discussions are purely political.

bigdommer
10-25-2011, 03:44 PM
Similar thing happened in Indianapolis. Colts were in an outdated arena with annual operating losses, and a lease running out in 2013. The city was desperate to keep them in town (Irsay has a family history of moving around), so they built a new stadium with a friendly lease. The city/state went way over budget, and wanted to renegoiate, and the Colts legally stood their ground.

As "the gooch" mentioned, unless something illegal was in the agreement, a deal is a deal and nothing will change.

sachin
10-26-2011, 09:55 AM
Little confused here: Isn't a lease good for a finite period of time, such as 1 year, 5 year, 20 year, etc.? And then the owner of the property gets to re-evaluate and possibly re-adjust? (Edit: According to TFA, which I originally did not read, the lease is good until 2029).

Also, this is kind of silly because what if the White Sox say "no"? What would they do ... kick them out? Have an empty baseball stadium? C'monnnnnn....:rolleyes:

eriqjaffe
10-26-2011, 10:06 AM
Little confused here: Isn't a lease good for a finite period of time, such as 1 year, 5 year, 20 year, etc.? And then the owner of the property gets to re-evaluate and possibly re-adjust? (Edit: According to TFA, which I originally did not read, the lease is good until 2029).

Also, this is kind of silly because what if the White Sox say "no"? What would they do ... kick them out? Have an empty baseball stadium? C'monnnnnn....:rolleyes:Maybe they'll take Dunn or Rios in lieu of payment.

doublem23
10-26-2011, 10:08 AM
Maybe they'll take Dunn or Rios in lieu of payment.

You could probably just have Adam take BP in the atrium of the Thompson Center and create enough of a breeze to replace all the A/C units in the building. That's green technology.