Post by Carl LaFong on Apr 25, 2024 11:59:37 GMT
www.theguardian.com/sport/2024/apr/25/chicago-bears-new-stadium-public-funding-soldier-field
The Chicago Bears unveiled a nearly $5bn proposal Wednesday for an enclosed stadium next door to their current home at Soldier Field as part of a major project that would transform the city’s lakefront, and they are asking for public funding to help make it happen.
The plan calls for $3.2bn for the new stadium plus an additional $1.5bn in infrastructure. The team and the city said the project would add green and open space while improving access to the city’s Museum Campus and could also include a publicly owned hotel.
“This is not an easy project, but Chicago doesn’t like it easy,” Bears president Kevin Warren said.
The announcement at Soldier Field comes during a busy week for the Bears. They are expected to take 2022 Heisman Trophy winner Caleb Williams with the No 1 pick in the draft on Thursday night and bank on the USC quarterback to solidify a position that has long been a sore spot for the founding NFL franchise.
The team said last month it was prepared to provide more than $2bn in funding toward a publicly owned stadium in the city.
The proposal calls for $2.025bn from the Bears, $300m from an NFL loan and $900m in bonds from the Illinois Sports Facilities Authority. The funding from the ISFA would involve extending bonds of the existing 2% hotel tax.
The Chicago Bears unveiled a nearly $5bn proposal Wednesday for an enclosed stadium next door to their current home at Soldier Field as part of a major project that would transform the city’s lakefront, and they are asking for public funding to help make it happen.
The plan calls for $3.2bn for the new stadium plus an additional $1.5bn in infrastructure. The team and the city said the project would add green and open space while improving access to the city’s Museum Campus and could also include a publicly owned hotel.
“This is not an easy project, but Chicago doesn’t like it easy,” Bears president Kevin Warren said.
The announcement at Soldier Field comes during a busy week for the Bears. They are expected to take 2022 Heisman Trophy winner Caleb Williams with the No 1 pick in the draft on Thursday night and bank on the USC quarterback to solidify a position that has long been a sore spot for the founding NFL franchise.
The team said last month it was prepared to provide more than $2bn in funding toward a publicly owned stadium in the city.
The proposal calls for $2.025bn from the Bears, $300m from an NFL loan and $900m in bonds from the Illinois Sports Facilities Authority. The funding from the ISFA would involve extending bonds of the existing 2% hotel tax.
