Business Services Industry

Sosa eatery pitched: Silverbergs whiff with investors, try selling new project's naming rights.

Crain's Chicago Business, March, 2000 by BAEB, EDDIE

After failing to raise enough money to open a Sammy Sosa restaurant, longtime Chicago businessmen Gene and Joe Silverberg are now in talks to sell the rights to the project to a group of local investors. Joseph N. Gomez, a former banker and well-known Democratic fund-raiser, says he has agreed in principle to buy the licensing rights to a Sosa restaurant from the Silverbergs.

Mr. Gomez also says he and two managing partners he wouldn't name have agreed on a price with the owner of the building at 500 N. LaSalle St., which houses the now-defunct Michael Jordan's Restaurant. Mr. Gomez says he plans to convert the building into Sammy Sosa's Restaurant and open by July. But there's no deal yet for the name or the building, and Mr. Gomez wouldn't say how much...

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