Since purchasing the Chicago Cubs baseball team and Wrigley Field in 2009, the Ricketts family have been pursuing an extensive renovation of the stadium and the surrounding venue. At its outset, the 1060 Project (so called after Wrigley Field's Addison Street address) was projected to cost $575 million and was to be completed in four phases during consecutive off-seasons. Funding was generated from advertising revenue and increased corporate sponsorship in the form of additional signage placed in and around the stadium.