The Chicago Bears made big news last week when they announced they’d placed a bid to purchase the 326-acre property of Arlington Racecourse International. This was the first confirmation of rumors that had persisted for some time. Rumors that suggested the organization is seriously considering a move out of Soldier Field and into their own stadium in the suburbs. Something they’ve flirted with since all the way back in 1975.
It isn’t clear yet who delivered the winning bid on the property. Even so, warning signs are increasing that the Bears aren’t doing this as a publicity stunt. This is real. The latest evidence comes in their most recent press release. One where they announced a new multi-year partnership with BetRivers and Rivers Casino. This deal makes both the official sportsbook and casino partners of the organization. What makes this so interesting? Rivers Casino is owned by Churchill Downs Incorporated.
The same people who own Arlington Racecourse International.
Could it be a coincidence? Sure. At the same time, it’s hard not to read between the lines. By getting into a partnership like this with Churchill Downs Inc., the Bears could be laying the groundwork for what’s to come. Getting on the good side of the people who own the property they desire is never a bad idea in the business world. This casino deal would make selling Arlington Park to the team a much easier decision from their perspective.
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It wouldn’t be just a new stadium the Bears would end up building there. Expectations are restaurants, hotels, and even a casino would likely surround it. Huge moneymaking opportunities. It could be a separate thing, but it’s hard not to feel like this is the beginning of something much bigger in the works.
Chicago Bears don’t seem to be messing around this time
During their previous two attempts to move in 1975 and 1990, the organization didn’t have the finances or the leverage to pull them off. That has changed in the past 30 years. They’re now one of the most valuable sports franchises in the country. It is possible they feel they should no longer be one of the few remaining teams that don’t have their own stadium. Remember Soldier Field is owned by the Chicago Park District.
The Chicago Bears only lease it. By building a new one in Arlington Park, they’d have full ownership. That would increase the overall value of the franchise significantly. Not to mention a chance to get more fans into the building than the NFL-low 61,500 they can manage at Soldier Field. Better parking. The potential benefits go on and on. The biggest challenge is money. It is going to be expensive.
To say nothing of the battles looming with the city.
Chicago mayor Lori Lightfoot already made it clear she will do everything in her power to ensure the Bears stay put. She even threatened the NFL would step in if the Bears tried to force their way out. Whether that is true is up for debate. Either way, the McCaskey family best be prepared for several challenges if and when they do win that bid for the property.