NFL Commissioner Tours Bears Stadium Sites

Why it matters

- The Chicago Bears finalized their purchase of the 326-acre Arlington Park property for $197.2 million in February 2023, signaling a concrete step towards a potential move. - A primary driver for the potential move is the Bears' lack of ownership over Soldier Field, which is the NFL's smallest stadium with a capacity of 61,500 and is owned by the Chicago Park District, limiting the team's revenue streams. - The team's current lease at Soldier Field runs through 2033, but the franchise can break the lease for a fee, which would be approximately $84 million if done in 2026. - Taxpayers are still paying off debt from the 2002-2003 renovation of Soldier Field, with reports indicating an outstanding amount of several hundred million dollars. - In Illinois, the Bears are seeking legislative support for House Bill 2789, which would allow them to negotiate a long-term property tax agreement for the Arlington Heights site, providing financial predictability for the multi-billion dollar project. - As negotiations in Illinois have stalled, cities in Northwest Indiana have made competitive offers; Gary has proposed three potential sites, and Portage has unveiled a plan for a $5 billion privately-financed, rent-free stadium complex called "Halas Harbor". - The tour included NFL Commissioner Roger Goodell, Bears Chairman George McCaskey, and President/CEO Kevin Warren, highlighting the seriousness of a potential relocation. - A potential new stadium could be a domed structure, which would allow Chicago to host major events like the Super Bowl and the Final Four, something not possible at the open-air Soldier Field.

Key numbers

• - The Chicago Bears finalized their purchase of the 326-acre Arlington Park property for $197.2 million in February 2023, signaling a concrete step towards a potential move.
• A primary driver for the potential move is the Bears' lack of ownership over Soldier Field, which is the NFL's smallest stadium with a capacity of 61,500 and is owned by the Chicago Park District, limiting the team's revenue streams.
• The team's current lease at Soldier Field runs through 2033, but the franchise can break the lease for a fee, which would be approximately $84 million if done in 2026.
• Taxpayers are still paying off debt from the 2002-2003 renovation of Soldier Field, with reports indicating an outstanding amount of several hundred million dollars.

What happens next

• As negotiations in Illinois have stalled, cities in Northwest Indiana have made competitive offers; Gary has proposed three potential sites, and Portage has unveiled a plan for a $5 billion privately-financed, rent-free stadium complex called "Halas Harbor".
• A potential new stadium could be a domed structure, which would allow Chicago to host major events like the Super Bowl and the Final Four, something not possible at the open-air Soldier Field.
• The tour occurred ahead of a team playoff game and has fueled speculation about the franchise's plans for a new stadium.

Sources

• Goodell toured
• The Chicago Bears finalized
• A primary driver for
• The team's current
• Taxpayers are still
• In Illinois, the Bears
• As negotiations in
• The tour included NFL
• A potential new stadium

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