Arlington Heights felt like such a slam dunk a few months ago. However, things change fast in the sports and business worlds. As local schools worked to raise property taxes against the Chicago Bears on that property, new team president Kevin Warren shifted efforts in a different direction. After talking with other suburban townships like Waukegan and Rockford, the franchise began speaking with city Mayor Brandon Johnson about the possibility of keeping the Bears in the downtown area. Soon, a possible location emerged in the south parking lot opposite Soldier Fields.
Some people thought this was a negotiating tactic by Warren, intent on getting the schools and Arlington Heights officials to relax their tax projections. However, according to Justin Laurence of Crain’s Chicago Business, the Bears are more than serious about the venture. So much so that the team brass is preparing a public presentation of what the new stadium complex would look like. It would involve lots of private funding and some long-overdue upgrades to local infrastructure.
They could even team up with the Chicago White Sox in an effort to put things in motion.
As the city’s sports venue dance continues, the Chicago Bears are close to revealing a plan for a new domed lakefront stadium that includes hundreds of millions in private financing and public amenities that team execs hope can stave off a legal challenge from a parks watchdog.
While the team is expected to contribute a significant amount of financing toward the new stadium, the Bears, like the White Sox, are also looking to tap into the Illinois Sports Facilities Authority’s ability to issue new bonds to support the project.
To make the stadium more attractive, the team is also proposing infrastructure improvements that would better connect the entire museum campus to the city’s grid and Northerly Island. While the city has long sought improvements to the campus, the infrastructure would likely add hundreds of millions to the total taxpayer tab to support a new stadium.
To help arrange the complex financial deal, the Bears are working with banking giant Goldman Sachs and have retained attorneys from Sidley Austin, a Chicago-based global law firm with a large sports practice.
Kevin Warren has made his mission clear.
While he hasn’t ruled out the Arlington Heights venture, it has become undeniable that his true goal is to keep the Bears in Chicago. He believes the lakefront and skyline are among the biggest draws for fans across the country. They never wanted to leave the area. It was always about desiring a stadium that was on a level befitting an organization with such a rich history. The Chicago Park District stonewalled them at every turn in their efforts to improve Soldier Fields. Eventually, they felt no other choice but to bid on the Arlington property.
However, a new political regime led by Johnson changed things. Kevin Warren felt there was an opportunity to see if something could be worked out. It appears the new administration is receptive to the idea. As always, it comes down to the money. Chicago politicians have remained emphatic the Bears wouldn’t get a dime of public money for this plan. However, there are ways around such issues. Warren has been down this path before. If he’s delivering this presentation now, it is because he has confidence it will work.
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