The Chicago Bears are deadlocked with the state of Illinois over their efforts to build a new stadium. Team president Kevin Warren and the McCaskey family have secured private funding for the construction of the building, but they require public support for the infrastructure. Governor J.B. Pritzker and his state government have been adamant for years that no taxpayer money would go towards any such project. As a result, the Bears declared this week that they are now considered options outside Illinois, including northwest Indiana.
People are left wondering what solutions remain where both sides can somehow save face. The Bears get the stadium control they want while the state doesn’t have to shell out a billion dollars for infrastructure costs. One option does exist, but it hasn’t been put on the table yet.
The Bears should buy Soldier Field.
Right now, the Chicago Park District owns the stadium and the surrounding area. The Bears have leased it since 1971, meaning they have no control over renovation, revenue streams, or naming rights. This is one of the big reasons they’ve been pursuing a new stadium in the first place. So why not stop searching for new locations and purchase the one they’ve called home for 56 years?
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The Chicago Bears buying Soldier Field has plenty of advantages.
For one, it would ultimately be more cost-effective than building a new stadium complex. Currently, projections indicate that such a move could cost upwards of $5 billion. Meanwhile, a proposal from former Mayor Lori Lightfoot suggested a renovation of Soldier Field would cost around $1-2.2 billion. The obvious roadblock is the Chicago Park District, who own the stadium. Convincing them to sell would not be easy, as they view it as a primary revenue generator, not just from the Bears but also from concerts and other events. Estimates say they make around $54-57 million annually from the stadium.
That leaves two issues with the Chicago Bears. There is the revenue loss the CPD would face, as well as the $356 million in debt remaining from the previous Soldier Field renovations. Even so, covering that cost and renovating the stadium would still be cheaper than building a new one elsewhere. Most importantly, it would keep the Bears in the city where they’ve played for over a century. There is no reason to think Governor Pritzker and Mayor Brandon Johnson can’t work something out with the Park District that would convince them to sell. Illinois’ typical annual budget is around $50-55 billion. Diverting a tiny fraction of that to help the CPD would be easy, especially compared to funneling taxpayer money towards a new stadium.
This isn’t unheard of territory.
Sports teams that originally leased a stadium have gone on to buy it. The Bradford Bulls did it in the Rugby Football League. The Gremio soccer club bought its stadium after renting it from a construction company. This would just be on a considerably bigger scale for the Bears.
