The Chicago Cubs are planning to spend $300 million and five seasons to do a complete renovation of Wrigley Field, the team announced officially on Saturday.

Expected to start this fall, Cubs President of Business Operations Crane Kenney presented the latest renderings during the 2013 Cubs Convention. The new ballpark will feature everything from added concessions and bathrooms to a completely new clubhouse for players. "We listened to you, and your love for this ballpark came through loud and clear," Kenney said. "Your input was put into this ballpark, and what you see is the direction we're heading."

Want the Full Story? And because construction will on happen on the off-season, the Cubs will continue to play at the iconic field while the renovation is under way. This also comes after the Rickets family announced they plan to build a boutique Sheraton Hotel where the current McDonalds sits on the corner of Addison and Clark Streets. It may come as no surprise that this year's Cubs Convention was held at the Sheraton Hotel & Towers in downtown Chicago.

Kenney also commented on the controversial topic of funding the renovation, saying if they are going to be restricted by the public, they need help footing the bill. "In most ballparks, if you're a publically funded facility like our friends on the South Side, there's an amusement tax, Kenney said. "...If this is such an asset (to the community) and we're being restricted, we need some help. If they want to treat us like the other 29 (privately owned) clubs, where we can play games whenever, have advertisements, the Rickets will be prepared to write the check."

The park is slated to include features like: