(670 The Score) The Cubs have reached a multi-year partnership with DraftKings, paving the way for a sportsbook at Wrigley Field.
An exact location for the sportsbook hasn't been determined, but it will be "on campus," Cubs president of business operations Crane Kenney said on the Dan Bernstein Show. Kenney mentioned the Cubs have space inside Wrigley Field as well as retail space on the first and second levels of their office building that's on the northwest side of the stadium.
There's no specific timeline for its installation as the city still needs to give its approval and DraftKings will need to acquire a license for the new location from the Illinois Gaming Board.
"An increasing number of sports fans want to integrate sports betting into their game experience, and we're excited to be one of the first to engage in developing a retail sportsbook at a professional sports venue," Kenney said in a statement.
The Cubs envision the sportsbook being a big attraction outside of confines of their own games.
"We're thinking it will be the most compelling -- if you think about it in (the sense of) the sports bar opportunities -- we're going to build a world-class sportsbook where year-round, not just for Cubs games, but for every other event that draws a big group -- the Kentucky Derby, the Masters, March Madness, etc., it's going to be a great place to come watch games," Kenney said.
The sportsbook will also serve as an event space, Kenney said, mentioning it as a possible draw for bachelor parties and such.
The Cubs' deal with DraftKings is worth around $100 million for about a decade worth of rights, the Action Network reported. Sports gambling was legalized in Illinois in early March.
"Think of this one as a sponsorship, no different than I mentioned from some of our other sponsors," Kenney said in speaking generally of the Cubs' partnership with DraftKings. "It's kind of two parts. It's a sponsorship with DraftKings and an important one for us. So that's going to benefit the club. And then it's a lease, where they're going to be a tenant, no different from the hotel or some of our restaurant partners. And as we identify a location and then build it out, which will be somewhat costly, the return on that real estate investment will be determined by the rent payments that we collect over time."
