The owners contend the signs would block their customers' current clear view of the fabled field and would violate their contract with the Cubs.
"Any construction that interrupts the rooftop views will effectually drive (the rooftop clubs) out of business and be challenged in a court of law," the club owners said in a written statement.
The Cubs and the city have been negotiating a plan to rehabilitate the 99-year-old stadium and are near an agreement, the Chicago Tribune said Saturday. Key components of the plan include new advertising signs and a large video screen on the stadium roof.
The rooftop operators contend Wrigley Field's status as a historical landmark prohibits major alterations such as the proposed billboards and video screen.
The rooftop club owners have not been at the bargaining table with the team and Mayor Rahm Emanuel. They are represented by the local alderman, who the Tribune noted also is handling the interests of other businesses and residents of the Wrigleyville neighborhood.
The rooftop owners had proposed putting the signs on their buildings and sharing the revenue with the Cubs, but the team rejected that idea.