Chicago Cubs chairman Tom Ricketts said Monday that the framework for a deal to renovate Wrigley Field, which was agreed to by the City of Chicago, will bring a World Series to a fan base that hasn't seen a championship since 1908.

"This massive investment will help us generate the resources we need for our baseball operations to develop championship-caliber players," Ricketts said at a news conference at Wrigley. "If this plan is approved, we will win the World Series for our fans and our city.

"We need this project in order to bring our fans a winner."

The framework of the deal includes a $500 million face-lift for the second-oldest park in the majors, including an electronic video screen that is nearly three times as large as the hand-operated scoreboard currently atop the center-field bleachers of the 99-year-old ballpark.

Under terms of the agreement, the Cubs would also be able to increase the number of night games at Wrigley Field from 30 to 40 -- or nearly half the games played there each season.

Mayor Rahm Emanuel hailed the "framework" agreement in a joint statement issued Sunday night, noting that it includes no taxpayer funding. That had been one of the original requests of the Ricketts family in a long-running renovation dispute that at times involved everything from cranky ballpark neighbors to ward politics and even the re-election campaign of President Barack Obama.

The Wrigleyville Rooftop Association issued a statement after Ricketts' news conference, stating that it reserves the right to enforce the 20-year contract agreed to with the previous Cubs owner. That contract, which is in its ninth year, allows the rooftop owners across from the park to charge people to watch games from their buildings and pay 17 percent of revenue to the Cubs.

"As an organizational partner, we echo the sentiment of all parties involved for our desire that the Cubs play baseball in a modernized Wrigley Field as soon as possible," the statement read. "The players and fans deserve the modern amenities that numerous other Major League Baseball teams have had for years and we are pleased that process will begin. The Wrigleyville Rooftops Association will play an active role in the community process to approve the planned development or any changes to the Landmark Ordinance.

"We are pleased the Chicago Cubs will participate in a community process to flesh out these details more in-depth. However, no community process, city ordinance, or agreement without our consent can or should dismiss contractual rights granted to us by the Chicago Cubs in 2004. Rooftop owners reserve the right to use any and all means necessary to enforce the remaining 11 years of our 20-year contract. We, as well as every interested party in the Lakeview neighborhood, will study the plans submitted to the City of Chicago and play a constructive role in moving forward."

The Cubs said the video screen they are proposing to build is 6,000 square feet, and would be built with "minimal impact on rooftops with whom (the) Cubs have an agreement." The current center-field scoreboard is slightly more than 2,000 square feet; the Cubs also have plans to add a left field sign of 1,000 square feet.